Gaming Innovation Group (GiG) has officially completed its planned division into two companies: Gentoo Media and GiG Software. The separation, finalized on September 30, aims to help each focus on its core business.
Gentoo Media, now operating as an independent public company, will focus on its affiliate services in the iGaming sector. It remains listed on both the Oslo Stock Exchange and Nasdaq Stockholm, with the ticker symbols G2MNO and G2M, respectively. In addition, Gentoo Media has secured a EUR 25 million Revolving Facility Agreement with Citibank Europe, providing it with financial flexibility for future moves.
Mikael Harstad, chairman of Gentoo Media, said, “This marks a new chapter in the ongoing evolution of our media affiliate business.” CEO Jonas Warrer echoed this sentiment, expressing enthusiasm about the opportunities that lie ahead.
Meanwhile, GiG Software continues as a separate entity focused on platform services, leveraging its B2B technology. It operates under the Nasdaq First North Premier Growth Market, positioning itself to offer more innovation and enhanced services to its partners. The company works with around 70 brands, serving over 40 partners across multiple markets globally.
The split also provided GiG Software with a significant cash boost, which it used to pay down debt and set up for future growth. Richard Carter, CEO of GiG Software, noted the importance of this move: “By standing alone, we can fully commit to delivering value to our partners and investors.” CFO Phil Richards expressed confidence in their ability to execute their strategy and maximize business value.
Both companies believe this separation will foster growth in their respective areas. Gentoo Media will continue its work in affiliate services, while GiG Software aims to innovate faster in its platform offerings.
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