Gaming Innovation Group (GiG) has begun life as an independent B2B igaming technology company after the strategic spinout from Gentoo Media came into force.
Gentoo Media, formerly GiG Media, was the affiliate arm of GiG, but the two are now separate entities.
GiG is now listed as GiG Software on the Nasdaq First North Premier Growth Market. The company’s offerings include igaming platform CoreX, sportsbook SportX and SweepX, GiG’s social casino sweepstakes platform.
Richard Carter, CEO of GiG, said: “The strategic spinout allows us to unlock the full potential of our proprietary technology and provides GiG with the focus, agility, and innovation needed to excel in the B2B space.
“By standing alone, we can fully commit to delivering value to our partners and investors, all while leveraging the foundations that we have already laid for sustainable long-term growth. This is the start of an exciting new era, with GiG positioned to deliver as a leader in the global B2B igaming industry.”
In a separate statement, Gentoo Media confirmed that “all necessary legal steps” regarding the spinout have been completed.
It said Gentoo will operate as an independent public company and a “pure media business.”
Mikael Haestad, chairman of the board at Gentoo Media, 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.”
Jonas Warrer, CEO of Gentoo Media, stated: “We are thrilled by the opportunities this split presents, allowing us to strengthen our market leadership while enhancing shareholder value”.
