Gentoo Media Inc. (formerly Gaming Innovation Group) is in the process of laying off approximately 100 employees, CasinoBeats understands. At the time of publication, the company has not responded to a request for comment.
The move comes shortly after the Malta-headquartered gambling affiliate announced the departure of its Chief Sales Officer and Chief Technology Officer in late April as part of a “broader strategic reorganisation.”
Gentoo Executive Departures Precede Wider Cuts to Employees
The company stated that the C-Suite reshuffle was “intended to position the company for its next phase of growth, reflecting its commitment to long-term growth objectives and evolving operational needs.”
Sources close to Gentoo have told CasinoBeats that the contract relating to the acquisition of KaFe Rocks (KFR) expired at the beginning of May, influencing the retention of KFR employees.
However, it’s understood that the layoffs are not limited to people working on the KFR product.
CasinoBeats has been informed that the poor performance of two key Gentoo properties, Time2Play and CasinoTopsOnline, is a significant factor in the company’s restructuring.
Time2Play was the biggest site from the KFR acquisition, completed on 21 December 2023. At the time of acquisition, it attracted approximately 200,000 daily visitors, which later peaked at 400,000.
Recent statistics show the site has approximately 23,000 daily visitors, representing a 94.25% decrease in traffic from its peak. The site experienced a sharp decline after Google’s August 2024 Core Update and has failed to recover.
CasinoTopsOnline was Gentoo Media’s flagship brand and had 175,000 peak daily visitors. The site now attracts under 5,000 a day and has seen a marked decline since Google’s Fall 2023 Core and Review updates, which largely penalized sites using tactics such as content scraping, auto-generated content, and cloaking to perform well in search.
Stock Declines Undermine Reported Revenue Gains
The company published its annual report and reaffirmed its 2024 full-year financials last month. Its revenue increased 39% year over year to EUR123 million, and EBITDA grew 44% to EUR57 million. 2025 will mark the first full year of trading after the split from Gaming Innovation Group.
Investors have not reflected leadership’s confidence. Gentoo’s share price peaked at $32.80 in the last twelve months and experienced a 44.94% decrease in value to a low of $18.06. The price has rebounded by 4.98% to the most recent close of $18.96.
The post Sources: Gentoo Media Laying Off 100 Employees appeared first on CasinoBeats.
Gentoo Media Inc. (formerly Gaming Innovation Group) is in the process of laying off approximately 100 employees, CasinoBeats understands. At the time of publication, the company has not responded to a request for comment. The move comes shortly after the Malta-headquartered gambling affiliate announced the departure of its Chief Sales Officer and Chief Technology Officer
The post Sources: Gentoo Media Laying Off 100 Employees appeared first on CasinoBeats.