Gambling.com will make its debut on the Russell 3000 index

Gambling.com will make its debut on the Russell 3000 index

On June 27, Gambling.com, the premier provider of player acquisition services for the global online casino and sports betting sector, will be placed on the coveted Russell 3000 index. It signifies the conclusion of the annual reconstitution of the index and the formal opening of the US market.

The famous Russell 3000 Index tracks the performance of about 97% of publicly traded firms in the United States. The benchmark index for the whole stock market is preparing to include Gambling.com Group Limited, which is listed on the Nasdaq. 

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The inclusion will be valid for twelve month

The group’s membership in the Russell indexes will be effective for one year, enabling the provider to continue its astonishingly rapid expansion in the nation sparked by the July 2021 listing of its shares on the Nasdaq stock market. The chief executive officer of the organization, Charles Gillespie, described the inclusion as “a wonderful honor” The group would have more visibility in the U.S. equity capital market, he noted, as a result of its inclusion in the significant index.

Why Is the Russell 3000 Index Valuable?

The Gambling.com Group’s membership in the Russell 3000 Index entails joining hundreds of other well-known firms, such as subscription software provider Zoominfo and dating app Bumble. In addition, the business, which is also the country’s first online gaming affiliate to be publicly listed, will draw more liquidity and investor awareness for the remainder of the inclusion.

At the conclusion of the annual reconstitution of the indexes, the company’s shares will also be included in the growth and value indexes. The reconstitution includes 4,000 of the biggest U.S. equities based on their total market value as of May 6. The group will be included in the large-cap Russell 1000 Index or the small-cap Russell 2000 Index upon joining this respected index.

The Financial Times Stock Exchange (FTSE) Russell determines membership for all Russell indexes based on stylistic characteristics, aims, and the market capitalization rankings of firms. According to the preliminary market capitalisation issued by FTSE Russell on May 6, Gambling.com is anticipated to be included in the Russell 2000, Russell 2500, Russell 3000, Russell 3000E, and Russell Microcap basic indexes, as well as several growth and value style indexes. The London Stock Exchange Group-owned FTSE Russell is responsible for calculating hundreds of indexes in over 70 countries, covering 98 percent of the worldwide investment market.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.