Gaming Innovation Group (GiG) has announced the spin-off of its media division, which will now operate as a separate entity named “Gentoo Media“.
GiG stated in a message to investors: “This rebrand marks a significant milestone for the company, which will become a standalone business in the second half of 2024. We will continue our history of dominance in the iGaming affiliate market, boasting 13 consecutive quarters of record-high revenue and strong EBITDA margins, reaching 48% in the most recent quarter.”
Gentoo Media will be formed from the legacy assets of GiG Media, complemented by a new portfolio of M&A acquisitions including AskGamblers, Kafe Rocks, Time2Play, and CasinoMeister, creating a rapidly growing media network.
The rebranding to Gentoo reflects GiG Media’s “rebel penguin heritage,” with “Gentoo” being a species of Antarctic penguin known for thriving by banding together.
Jonas Warrer, the former CEO of GiG Media, will lead Gentoo Media.
Warrer commented: “The launch of our new brand is a big milestone for us in the process of separating GiG Media from Gaming Innovation Group.
“Gentoo has been created with all our partners and employees in mind, ensuring to communicate an accurate and genuine view of ourselves, the business and what we stand for and believe in. The launch of Gentoo marks a new era and we couldn’t be more excited for the future prospects of the business.”
Gentoo Media is backed by BetPlay Capital, the private equity fund of the Juroszek family, which is its largest investor.
Following the separation, GiG will continue to focus on developing its technology platform and customized sports betting solutions for partners and customers.
Gentoo Media’s corporate development will be overseen by new chairman Mikael Harstad.
Harstad added: “The rebrand of GiG Media marks a pivotal moment in the separation of Gaming Innovation Group into two independent businesses, and is a vital step in the process of increasing shareholder value.
The launch of Gentoo is a testament to the organisation’s dedication to delivering superior quality and results in every aspect of the business, and is setting the company off to a great start.”
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