SBC News Voice of the Sports Betting Industry
The Juroszek family has become the largest individual investor in Gaming Innovation Group (GiG), increasing its stake to 11.08% in the igaming media services and sportsbook platform provider.
This morning, MJ Investments, Betplay Capital, and Juroszek Holdings informed the public that they had acquired a further 1.32 million shares of GiG stock on behalf of the Juroszeks.
The enterprise founders of STS Group – Poland’s largest betting group – the Juroszek family stated: “GiG is one of the most attractive and interesting igaming companies on the public market, especially when the NOK and SEK exchange rates are taken into account. In our opinion, GiG is undervalued and has great potential.”
GiG is currently in the process of reorganising its business by separating its two main units comprising Media Services and Sportsbook Tech. The reshape aims to deliver an anticipated “70% EBITDA growth and 50% revenue growth year over year”.
As announced in Q1, the company will split its Media Services unit, which includes its fast-growth lead generation business and online player community AskGamblers.com, an asset acquired in 2022 for €45m.
The platform and sportsbook tech business includes technical igaming platforms, front-end development, and other managed services, and provides GiG extensive market access, with over 40 secured licences.
The unit has recently been revamped by GiG’s acquisition and integration of Sportnco for €52m to expand its tech offering for sports betting and to diversify the firm’s commercial pipeline.
The investment has been led by Betplay Capital, an investment fund owned by Mateusz, Zbigniew, and Tomasz Juroszek, owners of STS Holding and ATAL S.A.
Through the investment funds, the Juroszek family will control approximately 14.2 million shares in GiG. Last month, the Juroszek family agreed on terms for a £750m deal to sell STS Group outright to Entain Plc and EMMA Capital.
GiG is scheduled to present its interim 2023 results on 16 August, which will provide an update on the firm’s reorganisation and its search for a new CEO following the departure of Richard Brown announced in H1.
