Juroszek Family Become the Largest Individual Shareholders of GiG
LISTEN TO THIS ARTICLE:The Juroszek family, best known as the owners of the Polish betting operator STS Holdings, has become the largest individual stakeholder of Gaming Innovation Group (GiG) with 11.08% of the company’s shares.
Move Shows Confidence Future of GiG
The family has expressed great confidence in the future of GiG, calling it one of the most attractive and interesting companies in the iGaming industry. The Juroszeks are said to think that GiG is undervalued and has great growth potential.
Recently, GiG has been undergoing a restructuring, splitting its Media Services and Sportsbook Tech units. It is hoped that this will result in a 70% growth in EBITDA and a 50% increase in revenue year-over-year.
GiG’s platform and sportsbook tech business, which includes iGaming platforms, front-end development, and various managed services, was recently boosted when the company acquired Sportnco for €52 million. It gave GiG additional technical solutions for sports betting and diversified its offering.
Juroszek Famiy Controls 14.2m Shares
Betplay Capital has been leading the investment in GiG. It is an investment fund that is owned by Mateusz, Zbigniew, and Tomasz Juroszek, who also own STS Holding and ATAL S.A. Through these funds, the Juroszeks now control roughly 14.2 million GiG shares.
GiG will be publishing its interim 2023 results on August 16, which will contain further details about the company’s reorganization. At present, GiG is seeking a new CEO following the recent departure of Richard Brown.
This year’s Q1 was impressive for GiG, with the company reporting a 49% increase in revenue compared to the same period last year. This was largely driven by new partnership and expansion into new markets. GiG entered the Baltic market with three sports betting brands, was granted a B2B license in Sweden, and launched its Rizk casino in Germany.
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