- COMPANY RESULTS
Gentoo Media has reported that for the period ending 30 September, it achieved its 15th consecutive record quarter with revenue 35% up from Q3 last year.
The company, formerly known as GiG Media, posted revenue for the quarter of €30.4 million (£25.4 million / $32.3 million) as well as an EBITDA of €14 million, similarly up 36% year-on-year.
Publishing revenue also grew by 44% between July and September, while paid revenue was up by 8% from the same period in 2023.
Gentoo also sustained its focus on higher-value markets in the quarters and reduced its intake of low-value players. It brought in 112,000 players in the three months, down 2% from 2023’s 113,800. The combined publishing business, which includes brands such as KaFe Rocks and AskGamblers, grew Gentoo’s player intake by 10% from Q3 2023.
Deposit value for its player base was however up by 36% year-on-year, with the majority of these players coming on revenue share deals with Gentoo’s operator partners. These revenue share deals amounted to €6.6 million of its total revenue for the quarter.
Remaining resilient
“Despite market volatility, our disciplined approach has proven resilient, driving steady success and positioning us with a competitive edge in anincreasingly dynamic marketplace,” said Gentoo CEO Jonas Warrer.
He went on to add that Q4 is historically strong for Gentoo with a favourable casino and sports season. “Gentoo Media is well-positioned to seize the opportunities this exciting period presents. In Q3, several new initiatives were launched to drive further revenue growth in Q4, and the team eagerly anticipates seeing the full impact of these efforts.”
The split of GiG also fell at the end of the quarter, with Gentoo continuing its publishing arm and GiG Software now separately providing proprietary platform and sportsbook technology to the igaming sector. This split was the result of a strategic review launched in January 2023 to form two independent companies to enable both arms to grow faster.
Google Update turnaround
Another key consideration for the affiliate was the mixed impact of the Google Core update rolled out in March this year. While Gentoo admitted that sites such as AskGamblers benefited from the update others in its portfolio had a negative impact. In Q3 however, Gentoo was able to successfully turn around the traffic of all the negatively impacted sites, with one effort still underway to reclaim its ranking for Casinotopsonline.com.
Gentoo also reported that it has already begun the integration of SEO and content service provider Titan back in June for €3.2 million. It expects the full integration to bring in significant cost savings and benefit its EBITDA margin.
The company confirmed there’s been work conducted in Q3 on Casinomeister.com which Gentoo also purchased in June for €3 million. It hopes to re-establish the site as a leading authority in casino affiliation.
Targets for the full-year 2024 results remain for Gentoo with revenues expected between €125-135 million and an EBITA margin between 45 - 50%.