Juroszek Family Takes Majority Control Of Gentoo Media Following Refinancing

The Juroszek family has secured majority control of Gentoo Media after completing a €100 million refinancing package, increasing its stake in the iGaming affiliate business from 26.8% to 59.3%.

The transaction gives the Polish gambling investors a controlling interest in Gentoo, which has faced mounting financial pressures since separating from Gaming Innovation Group (GiG) in 2024. The refinancing combines a €50 million equity investment with a further €50 million loan, providing funding to address the company's upcoming debt obligations.

The agreement also represents a significant expansion of the Juroszek family's gambling industry investments. The family previously owned Polish bookmaker STS and has steadily increased its involvement in Gentoo through share purchases and participation in the company's financing arrangements.

Refinancing Gives Juroszek Family Controlling Stake

The refinancing involved the issuance of 91,928,663 new Gentoo Media shares, with two family-owned entities providing the €50 million equity investment. The new shares diluted existing shareholders' ownership by approximately 40.6%, allowing the Juroszek family to establish majority control.

Mateusz Juroszek, who serves on Gentoo Media's board, had already been increasing his investment in the company. In October, he purchased an additional 131,715 shares through Nasdaq Stockholm, continuing a series of transactions that strengthened the family's position ahead of the refinancing.

The new ownership structure places the Juroszeks at the centre of Gentoo's financial recovery efforts, with the family becoming both its controlling shareholder and a significant creditor through the accompanying loan agreement.

Gentoo CEO Jonas Warrer confirmed the completion of the transaction, which will allow the business to repay its outstanding bonds when they mature in December.

“Today we have completed the share issue, and with it our refinancing. The issue was offered to our eligible shareholders and has been fully subscribed by our largest shareholders, at a premium to the current share price.

“Together with the loan, it secures the repayment of our bonds in full in December and reduces the amount of debt in the group.”

Gentoo Addresses Legacy Acquisition Debt

The refinancing follows an extended period of financial pressure for Gentoo Media, much of which can be traced to acquisitions completed before its separation from GiG.

The group's debt obligations include financing associated with the acquisitions of AskGamblers in 2022 and KaFe Rocks in 2023, transactions that expanded its affiliate portfolio but contributed to its borrowing requirements.

A €91.5 million bond maturing in December 2026 represented one of the company's most immediate financial challenges. Although Gentoo's leverage ratio of 2.58 times EBITDA was not exceptionally high, its ability to generate sufficient surplus cash to meet upcoming repayments had become a concern.

In August 2025, the company secured temporary relief from certain debt covenants, subject to conditions relating to the renegotiation of its financing arrangements. Its leverage subsequently reached 3.34 times EBITDA in September 2025, adding pressure to secure a longer-term solution.

Gentoo initially planned to refinance its debt in January 2026 but abandoned that process after assessing market conditions and the terms proposed by potential investors.

The Juroszek-backed arrangement, first outlined in October, ultimately provided an alternative route to meeting the company's December repayment obligations.

Affiliate Business Faces Continued Market Challenges

The ownership change comes during a difficult period for Gentoo Media, which has revised its financial guidance downwards twice within three months.

The company has faced challenges affecting the wider iGaming affiliate sector, including changes in operator marketing expenditure, regulatory developments and disruption to the Brazilian gambling market.

Brazil's sudden restrictions on online betting have added further uncertainty for affiliate businesses with exposure to the country, while broader industry pressures have affected revenue expectations.

Gentoo rebranded from GiG Media ahead of its separation from Gaming Innovation Group in 2024, establishing itself as an independent affiliate business under Warrer's leadership. Its portfolio includes established gambling comparison and affiliate brands acquired during its earlier expansion.

The refinancing removes a significant near-term debt repayment concern, although the company must still address the operational challenges affecting its financial performance.

With the Juroszek family now holding 59.3% of the business, Gentoo enters its next phase under a substantially different ownership structure. The investment provides additional financial support while placing greater influence over the company's future direction in the hands of one of Poland's most prominent gambling industry families.