The Juroszek family has become the largest individual investor in Gaming Innovation Group (GiG), increasing its stake to 11.08%.
Yesterday, the Juroszeks acquired another 1.32 million shares of GiG stock on behalf of MJ Investments, Betplay Capital, and Juroszek Holdings.
The enterprise founders of STS Group – Poland’s largest betting group – the Juroszek family stated: “GiG is one of the most attractive and interesting iGaming companies on the public market, especially when the NOK and SEK exchange rates are taken into account. In our opinion, GiG is undervalued and has great potential.”
GiG is currently in the process of reorganising its business by separating its two main units comprising Media Services and Sportsbook Tech. The reshape aims to deliver an anticipated “70% EBITDA growth and 50% revenue growth year over year”.
In Q1, the company announced it would split its Media Services unit, which includes its fast-growing lead generation business and AskGamblers.com, the online player community it acquired for €45 million in 2022.
In addition to iGaming platforms, front-end development, and other managed services, GiG’s platform and sportsbook tech business offers extensive market access, with over 40 licenses secured.
GiG has recently revamped the unit with the acquisition and integration of Sportnco for €52m to expand its sports betting tech offering and to diversify its commercial offerings.
The investment has been led by Betplay Capital, an investment fund owned by Mateusz, Zbigniew, and Tomasz Juroszek, owners of STS Holding and ATAL S.A.
Through the investment funds, the Juroszek family will control approximately 14.2 million shares in GiG. Last month, the Juroszek family agreed on terms for a £750m deal to sell STS Group outright to Entain Plc and EMMA Capital.
On 16 August, GiG will report its interim 2023 results, which will provide an update on the company’s reorganization and its search for a new CEO following Richard Brown’s departure in H1.
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