A major online gaming affiliate marketing company is expected to lay off 100 employees.
Malta-based Gentoo Media, formerly known as Gaming Innovation Group is making the moves after the chief sales officer and chief technology officer left the company last month as part of a “broader strategic reorganization.”
According to a report from CasinoBeats, the company’s contract to acquire KaFe Rocks, another affiliate company, expired this month. However, the layoffs go beyond that acquisition effort.
The company noted that the employment move “reflects the company’s commitment to enhancing operational efficiency, driving innovation, and positioning Gentoo Media for its next phase of growth.”
Stock Delisted On European Exchange
Gentoo operates brands like Time2Play and CasinoTopsOnline, but those have seen declining traffic in recent years.
“Time2Play, the flagship site from the KFR acquisition finalized on December 21, 2023, initially attracted around 200,000 daily visitors and even peaked at 400,000,” CasinoBeats reported. “But recent data shows the site is now pulling in just 23,000 visitors a day, a 94.25% drop from its peak. The site’s traffic took a major hit following Google’s August 2024 Core Update and hasn’t bounced back since.”
Card Player reached out to Gentoo but has yet to receive a response.
The company recently delisted the firm’s stock from the Euronext Oslo Børs exchange, but remains available on the Nasdaq Stockholm. The stock had been listed on both exchanges since 2019. Gentoo’s stock price has lost almost 50% of its value over the last year.
Despite that, the affiliate marketer recently reported solid earnings, with 2024 revenue of €123 million, a 39% increase from 2023. EBITDA (earnings before interest, taxes, depreciation, and amortization) reached €57 million with cash flow from operating activities totaling €33 million.
“Our 2024 results reflect Gentoo Media’s strategic commitment to sustainable growth and operational excellence,” CEO Jonas Warrer said in announcing the annual results. “Across our global operations, we continue to deliver high-quality leads and trusted compliance solutions, empowering our partners to succeed in a dynamic iGaming landscape.”
Photo courtesy of Shutterstock
