Grandstand CEO: Rebrand, AI Drive and Product Expansion Amid Share Price Slide

Grandstand’s leadership views its current share price as materially underpriced, even as it faces a year-on-year revenue dip and pivots to an AI-driven strategy. CEO Kevin McCrystle, recently promoted after Charles Gillespie stepped down, has directed a tight restructure, pushed a broad rebrand, and launched new products like Rollcard, targeting diversification to stabilise the business and improve its market position.

Rebranding to Reflect a Broader Portfolio

The shift from Gambling.com Group to Grandstand was finalised two months after a substantial corporate restructuring in May. According to McCrystle, the previous name no longer captured the business: “Gambling.com just really wasn’t the right description of what we are as a business. It is one of our marketing and affiliate assets and we do a lot more than that right now.” The rebrand, he says, signals the evolution of a group that includes OddsJam, OpticOdds, Casinos.com and WhichBingo, transitioning from a consumer-facing affiliate to a diversified ecosystem with significant partner services. Early reception among industry partners and investors has reportedly been positive, solidifying the new identity ahead of critical product launches.

Grandstand’s AI-First Transformation

Organisational changes implemented in May cut headcount by 25%. The intent was to accelerate Grandstand’s transition to an “AI-first” company. McCrystle emphasises that the goal isn’t to build proprietary frontend AI models, but to operationalise AI at every level: “We really are integrating [AI] into everything we’re doing.” Rollout involves upskilling staff, supporting advanced users, and bringing in specialist hires to maintain momentum. So far, the group has relied heavily on Claude-based tools but is now shifting to multi-model AI solutions as the technology landscape evolves. Buy-in hasn’t been universal, but demonstration of AI’s impact on workflow has won over many skeptics internally.

Financial Performance and Ongoing Challenges

The company’s first quarterly results under McCrystle’s tenure reflect ongoing volatility. Q2 revenue dropped 5% year-on-year to $37.8 million, and adjusted EBITDA slid 44% to $7.7 million—a dip in line with market expectations. Over the past year, Grandstand’s Nasdaq-listed share price has fallen by almost 80%, hovering at $1.92. Despite these numbers, guidance for annual revenue remains set between $165 million and $170 million, with adjusted EBITDA forecasted at $45 million to $50 million. McCrystle insists the core drivers for recovery are robust, specifically referencing 50% year-on-year growth in enterprise B2B sports data sales and a strong North American marketing segment.

“The most important thing right now is to deliver on expectations, which I feel confident we’re going to do. It’s not going to magically shift the share price back to where it was, though it seems materially underpriced.” —Kevin McCrystle

He attributes recent setbacks to missed quarters and lower guidance but contends that the current valuation doesn’t match business fundamentals. The focus, he says, is on steady execution over promises to the public market.

Diversification Beyond SEO and Affiliate Marketing

Grandstand’s reliance on SEO has lessened as algorithm changes and volatility make it a less reliable revenue anchor. SEO now comprises about a third of marketing activities and a much smaller slice of overall business. McCrystle expects the SEO segment to remain relevant but not as a primary growth driver. The group is intentionally widening its business scope, emphasising B2B data sales, sports and casino product innovation, and new market services.

Rollcard Launch and Payments Strategy

In response to persistent US payments friction since PASPA, Grandstand launched Rollcard—a high-limit debit card for use across sports betting, casino, and prediction markets. The initial rollout leverages Grandstand’s existing brands to stimulate adoption, with five-year revenue projections ranging from $50 million to $100 million. Longer-term upside is considered “substantially larger,” although actual impact will depend on market uptake and regulatory acceptance. The move reflects Grandstand’s ambition to deepen its ecosystem and position itself competitively in the evolving payments landscape. More on payments innovation in gaming.

M&A Activities and Capital Allocation

Recent acquisitions, including Odds Holdings for $160 million and Spotlight.Vegas for up to $30 million, have shaped Grandstand’s service portfolio. However, McCrystle acknowledges that the current market doesn’t favour additional M&A: “With where the share price is at as well, it doesn’t help us to do any deals, but we’re open to it.” For now, cash flow management is prioritised, with the expectation that acquisition activity may increase next year if conditions improve.

Regional Performance and NFL Season Impact

North America remains critical, especially with the NFL season about to begin. Grandstand’s business in the region is “very sports heavy,” and the seasonal surge is expected to deliver a strong September. Prediction markets are also gaining ground in the US, with Grandstand supplying data services to ecosystem participants, including market makers and quant funds. For now, McCrystle sees these markets as positive new entrants rather than short-term disruptors.

Market Position and Outlook

McCrystle sums up the company’s current state as fundamentally transformed from the old Gambling.com affiliate model. Data and enterprise services deliver the most consistent month-over-month growth, while marketing’s role in the group has shrunk. The focus is now on multi-pronged execution: integrating AI company-wide, expanding payments, gradually resuming M&A when feasible, and delivering on results to regain market value. Grandstand’s leadership views the coming quarters as critical to proving out its upgraded business model to the public market and regaining investor confidence.