Affiliate group Gentoo Media has reported fourth-quarter revenue of €25.6m ($30.17m) for the three months ended 31 December 2025, marking a 13% increase quarter-on-quarter and the company’s strongest quarterly performance of the year.
EBITDA before special items reached €14.9m in Q4, while cash flow from operations amounted to €11.5m. For the full year, operating cash flow totalled €33m. During the quarter, Gentoo repaid €5.5m of debt.
The affiliate said end-user deposit volumes at partner operators exceeded €200m in Q4, representing a record high.
Management noted that revenue was affected by lower sports margins and a more moderate seasonal uplift in December, though underlying commercial activity remained stable.
For the full year 2025, the affiliate previously reported revenue of €98.6m, down from €124.5m in 2024, reflecting the impact of its separation from Gaming Innovation Group, which was completed in September 2024. Q4 revenue of €25.5m formed part of that annual total, according to a January trading update.
The affiliate reiterated its preliminary 2026 guidance, forecasting revenue between €105m and €115m and EBITDA before special items of €49m to €54m.
Operating cash flow is expected to range from €37m to €41m. Even the lower end of the revenue range would represent growth of approximately 6% compared with 2025.
Gentoo attributed the outlook to a leaner cost base following restructuring initiatives during 2025, which included around €5m in non-recurring operational improvement costs. The group also incurred €38m in expenses linked to its split from GiG.
In late January, Gentoo initiated a refinancing process for its existing bond, with net proceeds intended to repay its current bond and revolving credit facility. The board is assessing whether potential new bond terms offer a more attractive financing structure than alternative options.
Gentoo confirmed record-high deposit volumes in Q4 and announced the refinancing process in a January 2026 trading update.
Gentoo Media formally separated from Gaming Innovation Group in September 2024 as part of a strategic restructuring
