Juroszek family acquires 1M+ shares of GiG, becoming the company's biggest shareholder

MJ Investments, the investment company of Mateusz Juroszek, CEO of STS Holding and Betplay Capital, has acquired 1,324,145 shares of iGaming technology company Gaming Innovation Group. With this acquisition, the Juroszek Family becomes the largest shareholder of GiG, owning a total of 14,285,614 shares, which accounts for 11.08% of the total shares. MJ Investments owns 5,217,606 shares, Betplay Capital holds 4,832,342 shares, and Juroszek Holding possesses 4,235,666 shares.

Mateusz Juroszek stated that 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 a great potential. We as a family want to be a long-term investor. Our goal is to support the business and its growth," said Juroszek. "As a family, we have been involved in the iGaming industry for over 20 years and our aim is to extend out engagement in GiG’s shareholder structure. This is why we have recently finalized a number of such transactions."

Mateusz Juroszek, CEO of STS Holding and Betplay Capital

Juroszek believes that the current valuation of GiG presents an opportunity for increased involvement. Analyst predictions indicate an expected EBITDA growth of up to 70% year-on-year and revenue growth of approximately 50% year-on-year.

In Q1 2023, the Board of Gaming Innovation Group decided to initiate a strategic review to split GiG into two main business segments: Media Services and Platform & Sportsbook.

The Media Services segment includes GiG's lead generation business through online media buys and publishing, while the Platform & Sportsbook segment encompasses iGaming platforms, front-end development, and other managed services.

Regarding GiG's media business, revenues have experienced significant growth from a diversified range of markets. The company has also acquired new entities and secured crucial partnerships, with a focus on expanding into the Americas. The acquisition of Askgamblers has also been viewed positively by the Juroszek family, and the GiG Media team has made notable improvements to that business.

The development of the Platform & Sportsbook segment is also progressing well, with GiG holding over 40 secured licenses. The acquisition of Sportnco allows GiG to extend its presence in sports betting, creating new revenue streams and offering a comprehensive range of services. GiG has already established partnerships with significant international clients following this purchase.

Since May 2023, Tomasz Juroszek, Chief Investment Officer of Betplay Capital, has joined GiG's Board of Directors. Tomasz Juroszek was nominated by Betplay Capital, an investment company owned by Mateusz, Zbigniew, and Tomasz Juroszek, who are also owners of STS Holding and ATAL S.A., among other entities.