Gentoo Media completes business split
Citibank Europe has become the company’s official main bank.
Gentoo Media (formely Gaming Innovation Group) has completed the process of dividing into two independently listed companies.
This process was finalised as of yesterday and following final approval from the Board of Directors, all the necessary legal steps have been completed.
Back in June, GiG Media, a division of Gaming Innovation Group (GiG) rebranded as Gentoo Media, following the announcement of its spinoff from GiG’s platform and sportsbook operations.
The aim of this rebranding was to position Gentoo Media as a standalone business, operating under a new name, logo and visual identity, while maintaining its existing team and brands.
Despite this restructuring process, the platform business will remain an independent B2B company, providing its propriety platform and sportsbook technology to the iGaming industry. Similarly, Gentoo Media will continue as an independent public company and a pure media business.
On top of this, Gentoo Media has entered into a €25m ($27.76m) Revolving Facility Agreement with Citibank Europe, which has also become its official main bank.
Gentoo Media Chairman of the Board Mikael Harstad said: “This marks a new chapter in the ongoing evolution of our media affiliate business. Gentoo Media is now well-positioned to continue its remarkable growth journey as an independent and vertical-focused company within iGaming.”
Gentoo Media CEO Jonas Warrer added: “We are thrilled by the opportunities this split presents, allowing us to strengthen our market leadership while enhancing shareholder value.”
This news comes shortly after Gentoo Media extended its partnership with Betsson Group for a further year, related to the compliance and brand protection tool, GiG Comply.
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