International company Gambling.com Group, which is engaged in partner marketing, published information about the impact of the pandemic on business. In January and February 2020, the company's revenue was $2.4 million, which shows a 27.4% year-on-year decline. Adjusted profit before taxes, depreciation and amortisation (EBITDA) is €390 thousand , which is 66.7% less than previously.
The most vulnerable vertical of the gambling business, according to the company's representatives, is sports betting. The industry was negatively affected not only by the closure of ground-based PPS, but also by the discontinuation of sports competitions. For the specified period, the income was stated at the rate of 20% of the estimated one. This allows the company's representatives to predict that the situation will get worse in the future.
However, the March revenue is likely to survive, as most events were held in the first half of the month as usual.But in the online casino vertical, the situation looks a little more positive. Last month, revenue from the segment even increased by several points.
The company decided to resort to measures to reduce costs. Thus, it is planned to save about 150 thousand euros In the second quarter, the company plans to reduce costs by another 300 thousand euros.
In February, the company announced revenue growth of 6% year-on-year. The financial figure was €17.3 million.