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Once the deal is completed, 80% of its EBITDA is expected to come from those two markets.
According to the deal investor deck, the combined group expects online betting and gaming to be its largest vertical, as it accounted for 48% of the group’s combined pro forma adjusted EBITDA in H1.
Distributed gaming followed at 27%, then casinos at 25%.
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“You can try to stop gambling, but then you go onto foreign gambling sites and crypto casinos and they keep appearing,” Madsen says.
He began watching regulators shut down individual gambling sites, only for mirror sites, cloned domains and replacement URLs to emerge in thier place. The problem, he concluded, was not necessarily the individual website. It was the network behind it.
“Why not use the dataset I already have on gambling sites to map the most problematic ones, identify how they are connected and build a deeper picture of the networks behind them?” That thought process eventually gave birth to Trace2Trace.
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