Gentoo Media Completes Business Separation
Date: 2024-10-01 Author: Robert Beloved Categories: EVENTS
Gentoo Media, formerly known as Gaming Innovation Group (GiG), has completed the process of separating into two separate and public companies. The process was completed yesterday after receiving final approval from the Board of Directors, allowing it to successfully complete all necessary legal steps.
In June, GiG Media, a division of Gaming Innovation Group, was renamed Gentoo Media as part of the announcement of its separation from GiG’s platform and sportsbook operations. The purpose of this rebranding was to position Gentoo Media as a standalone business that will operate under a new name, logo, and visual identity, while maintaining its team and brands.
Despite the reorganization, the GiG platform will remain an independent B2B company providing its platform and sportsbook technology to the iGaming industry. Gentoo Media will continue to operate as an independent, publicly traded company and a pure-play media business.
In addition, Gentoo Media has signed a €25 million ($27.76 million) revolving credit facility with Citibank Europe, which has become the company’s official lead bank.
Gentoo Media Chairman Mikael Harastad said: “This marks a new stage in the evolution of our media affiliate business. Gentoo Media is now well positioned to continue its impressive growth path as an independent, vertically focused iGaming company.”
Gentoo Media CEO Jonas Warrer added: “We are excited about the opportunities this separation offers, which will allow us to strengthen our market position and enhance shareholder value.”
The news comes shortly after Gentoo Media extended its partnership with Betsson Group for another year on the GiG Comply compliance and brand protection tool.
