Gentoo Media–formerly Gaming Innovation Group Inc.–has announced the completion of its legal restructuring, officially separating its Media and Platform divisions into two independently listed companies, as of September 30, 2024.
Following approval from the Board of Directors, all legal formalities have been finalised.
The platform business has now been extracted from Gentoo Media Inc. and will operate independently under the name GiG Software PLC.
GiG Software will continue to provide its proprietary platform and sportsbook technology to the global iGaming industry as a dedicated B2B company.
Meanwhile, Gentoo Media will remain an independent public company, focused solely on its media operations, while solidifying its position as a leading Affiliate in the iGaming sector.
Evolution
In addition, Gentoo Media has entered into a €25 million (£20.81m) Revolving Facility Agreement with Citibank Europe plc, ensuring financial flexibility and continued operational excellence.
The company is excited to collaborate with Citi as its primary banking partner moving forward.
Gentoo Media Chair Mikael Harstad (pictured, left) expressed his satisfaction with the corporate separation by affirming:
“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.”
Jonas Warrer, CEO of Gentoo Media, added:
“We are thrilled by the opportunities this split presents, allowing us to strengthen our market leadership while enhancing shareholder value.”
