Grandstand Accelerates Its Transformation with AI and Diversification Following CEO Change

Grandstand, formerly known as Gambling.com Group, has executed a series of strategic changes in 2026 under the leadership of Kevin McCrystle, who took over as CEO in May and replaced co-founder Charles Gillespie. The organization underwent a restructuring that reduced its team by 25% while intensifying its focus on artificial intelligence, simultaneously diversifying its business with the launch of the Rollcard product. McCrystle asserts that Grandstand's stock is "materially undervalued" despite the recent drop in price and revenue reduction.

Restructuring and Transition to an 'AI-First' Organization

The restructuring was the main measure following McCrystle's arrival as CEO, involving a 25% workforce reduction aimed at progressing towards an organization guided by artificial intelligence. The new CEO asserts that this transformation is not merely superficial: "We are integrating AI into everything we do. We have moved from being a very Claude-centered organization to multi-model solutions. This is constantly evolving because AI is advancing rapidly," he comments. The process has required internal training, support for advanced employees in AI, and new hires, all to adapt the company to a changing industry environment.

The Human Challenge and Focus on Granular Execution

McCrystle highlights that the toughest decision was letting go of high-performing teammates from previous cycles: "We had to lay off some very capable people. The world is changing quickly with AI, and we need to readjust our investment and how we work." The emphasis now is on ensuring timely project delivery and maintaining execution across all areas.

New Name, Expanded Portfolio, and Industry Reception

In July, the company changed its name from Gambling.com Group to Grandstand, justified as a reflection of its diversification beyond affiliate marketing. The portfolio now includes brands such as OddsJam, OpticOdds, Casinos.com, and WhichBingo. McCrystle notes that the reception has been positive within the industry and that the current name aims to be inclusive of its B2C and B2B business lines. "We wanted a new corporate identity that encompasses everything we do today," he explained.

Financial Results and Outlook Amidst Stock Price Plunge

During the second quarter of 2026, Grandstand reported revenue of $37.8 million, which represents a 5% year-over-year decline, and an adjusted EBITDA of $7.7 million, a 44% decrease from the same period last year. Its stock price has fallen nearly 80% over the past twelve months to $1.92. Despite this adverse scenario, McCrystle reaffirms the annual revenue forecast of between $165 and $170 million and adjusted EBITDA of between $45 and $50 million. The CEO attributes the confidence to the rapidly growing segments such as the sale of B2B sports data —which is growing at 50% annually— and the marketing push in North America. He acknowledges that search engine optimization (SEO) has been difficult, but now considers it just a minor part of the company's overall strategy.

"I believe the stock value is materially undervalued... The key will be meeting expectations each quarter," McCrystle states.

Diversification and the Future of SEO in Grandstand's Strategy

The CEO sees uncertainty in the future impact of Google and AI on SEO but believes the current diversification allows the company to be less dependent on this channel. He indicates that neither consumer AI tools (like ChatGPT) nor the integration of AI into Google's algorithms have significantly displaced traditional search, although there is greater volatility. Growth in data and expansion into business services are now the center of the strategy.

Rollcard: A Payment Bet as the Core of Diversification

Grandstand has incorporated Rollcard into its ecosystem, a high-limit debit card aimed at sports betting, casino, and prediction markets. According to McCrystle, "Since PASPA, payments have been the main friction in the U.S. Now is the right time to intervene." The company has projected revenues for Rollcard between $50 and $100 million over the next five years, potentially much higher in the long term. The product will launch initially through self-marketing and will later seek to expand its reach.

Mergers, Acquisitions, and Focus on Cash Flow

Recently, Grandstand acquired Odds Holdings for $160 million and Spotlight.Vegas for up to $30 million. However, McCrystle indicates that "something very interesting" would be necessary for new operations in the short term, given market conditions and the declining stock price. Focusing on cash flow management is an immediate priority.

Importance of the NFL Season and Prediction Markets

The return of the NFL marks a critical moment for growth in North America, a region that is gaining increasing weight in the company's business, especially in sports verticals. Additionally, Grandstand is observing the boom of prediction markets in the U.S., where it provides data to quantitative funds and market makers: "They are a positive player and aren't going away anytime soon," asserts McCrystle.

Current State and Business Outlook

Grandstand has transitioned from an organization primarily based on SEO and marketing to a conglomerate where data drives recurring growth. "The most exciting part is the consistent growth of the data vertical. We will continue to build on Grandstand, Rollcard, and the other pieces that represent us today," concludes the CEO.

The future, according to McCrystle, lies in sustained execution and seizing opportunities within a rapidly redefining market under technological pressure.