The company will be trademarked under Gentoo Media and will operate as Gentoo from now on, while consisting of GiG’s media business, including its affiliate lead generation services.
GiG said the new name was linked to the media arm’s affiliation with performance marketing firm Rebel Penguin, which GiG acquired as part of its media business in 2017 for €13.0m (£10.9m/$13.9m).
The name gentoo stems from an Antarctic penguin species characterised by its capacity to join forces as a unit.
The rebrand marks over a year since GiG announced its strategic review and aim to spin off and separate its media betting platform and Sportsbook businesses to “sharpen the focus” of both firms and optimise growth opportunities.
Progress so far has largely focused on the platform and sportsbook business. Ex-SBTech chief Richard Carter was appointed to lead this arm in August 2023, while former SBTech and DraftKings senior executive Andrew Cochrane was named chief business officer of the division in November.
In April, GiG confirmed that the Platform and Sportsbook business would be divided between shareholders at a point later in the year.
At the time, GiG revealed that its nomination committee had evaluated two different board formations. This, it explained, was to optimise business opportunities for both entities.
Milestone moment
Jonas Warrer, CEO of GiG, said that the rebrand marked a significant step in spinning off the GiG Media business.
“The launch of our new brand is a big milestone for us in the process of separating GiG Media from Gaming Innovation Group,” he said. “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,” Warrer added.
Mikael Harstad, chair of the GiG board, added that the rebrand was crucial for shareholder value.
“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,” he said.
“The launch of Gentoo is a testament to the organisation’s dedication in delivering superior quality and results in every aspect of the business and is setting the company off to a great start.”
GiG bolsters portfolio with two acquisitions
The rebrand comes amid GiG completing two supplier acquisitions in June.
Earlier in the month it acquired casino forum and review platform Casinomeister for €3.0m. The deal agreement said Casinomeister would continue to operate under its current brand but within the GiG Media portfolio.
Yesterday (17 June) GiG announced it would acquire SEO and content services specialist Titan for €3.2m. GiG will pay €1.0m upon closing, another €1.0m after 12 months and a final payment of €1.2m 24 months after the deal is finalised.
Original article: https://igamingbusiness.com/strategy/gig-affiliate-rebrands-to-gentoo-media-as-spin-off-rumbles-on/
