Two family-owned entities bought 91,928,663 newly issued shares for €50 million, lifting the family’s holding from 26.8% and diluting other shareholders by 40.6%. The share issue sits alongside a separate €50 million loan, making the Juroszeks both Gentoo’s biggest shareholder and a major creditor.
The funds will cover Gentoo’s €91.5 million bond due in December 2026, the largest debt pressure on the business, much of which dates back to GiG’s acquisitions of AskGamblers and KaFe Rocks in 2022 and 2023. The affiliate obtained temporary covenant relief in August 2025, saw leverage peak at 3.34x EBITDA the following month, and dropped a planned refinancing in January 2026, citing market conditions and the terms offered by investors.
Jonas Warrer, CEO of Gentoo Media, stated:
“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, which split from GiG in 2024 after rebranding from GiG Media, has cut its guidance twice in three months as the closure of Brazil’s betting market and wider pressure on affiliates weighed on its performance.
