Gentoo Media anticipates a revenue of 30.4 million euros (approximately $32.9 million) for the third quarter of 2024, marking a historic high for the 15th consecutive quarter.
The company expects an EBITDA profit margin between 46% and 48%, in line with its sustainable growth performance targets in the iGaming industry.
Gentoo's full-year performance outlook for 2024 remains stable, with projected revenues ranging from 125 to 135 million euros and an EBITDA profit margin between 45-50%.
Gentoo attributes this growth to strategic developments launched throughout the year, which are expected to drive further growth in the last quarter, particularly in the casino sector.
This performance outlook was released shortly after a significant organizational restructuring, with Gentoo Media completing its business spin-off from the former platform and sports betting business under Gaming Innovation Group (GiG) in June 2024.
Renamed as Gentoo Media, the company now operates as an independent media entity, with Citibank Europe as its primary banking partner.
During the restructuring, Gentoo Media signed a €25 million revolving credit agreement with Citibank Europe to support its financial stability and growth strategy.
Gentoo also renewed a one-year partnership with Betsson Group, expanding the scope of the compliance and brand protection tool GiG Comply.
Notably, the full mid-term report for the third quarter of 2024 is scheduled to be released on November 13, 2024.
CEO Jonas Warrer stated, "Our focus on sustainable growth strategies through revenue sharing and a prudent, disciplined approach has been effective. As we adapt to changing market conditions, our commitment to organic growth and diversification has proven resilient."
Chairman Mikael Harstad added, "As we welcome another record-breaking quarter, our long-term strategy of stable, diversified growth has proven successful. Despite market fluctuations, our rigorous revenue sharing model continues to drive sustainable success."
In the third quarter of 2024, Gentoo Media underwent a brand reshaping and completed its business separation from GiG, laying a strategic foundation for enhancing its market position in the iGaming industry.
