Juroszek Family Takes Control of Gentoo Media in €100M Refinancing Deal

The Juroszek family have taken majority control of Gentoo Media (STO: G2M) following a €100 million ($111 million) refinancing deal.

The family, which previously owned Polish sportsbook STS, has increased its stake in Gentoo through two investment vehicles.

The transaction involved the issuance of 91.9 million new shares, raising €50 million ($58 million) in equity. This is supplemented by a €50 million loan.

The new shares were purchased equally by MJ Foundation Fundacja Rodzinna and Fundacja Zbigniewa Juroszka, two entities connected to the family.

The share issue diluted existing shareholders by approximately 40.6%, leaving the Juroszeks with a controlling interest.

The refinancing provides Gentoo with the funds needed to repay €91.5 million ($101.5 million) in bonds maturing in December 2026.

That debt comes from acquisitions completed under the company’s former identity, Gaming Innovation Group (GiG). 

Gentoo CEO Jonas Warrer said the completed refinancing would strengthen the company’s financial position.

“Today we have completed the share issue, and with it our refinancing,” Warrer said. “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,” he added.

Gentoo Addresses Debt After Difficult Year

Gentoo has struggled with debt obligations since it was spun off from GiG in 2024, as part of a restructuring that saw GiG Software retain the group’s platform and sportsbook technology operations.

Last year, the company was forced to secure temporary relief from the debt. An earlier refinancing attempt was abandoned in January.

Gentoo has also cut its financial guidance twice in three months, following challenges including Brazil’s ban on online gambling.

Former STS Owners Expand Gambling Investments

The Juroszeks have been investors in Gentoo since before its separation from GiG.

In 2023, the family increased its holding in GiG to 11.08%, becoming its largest individual shareholder. It later supported the company’s restructuring.

The family’s wealth grew through STS, one of Poland’s largest sportsbook operators. The family sold its 70% stake in STS to Entain in 2023, with Mateusz Juroszek joining the board of Entain CEE.

However, Entain announced plans earlier this year to exit the venture by selling its interests to investment partner EMMA Capital.