June 26, 2024 2 min read

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Juroszek Family Purchases SkyCity’s Stake in GiG

The influential Polish family has increased its stake in Gaming Innovation Group to just over 25%

The Juroszek family, a group of influential Polish investors, has increased its shareholding in Gaming Innovation Group (GiG), a leading iGaming provider and affiliate. As of Monday, June 24, the family held 25.06% of the business.

The larger part of this increased shareholding was purchased from SkyCity Holdings, which sold its 10% to the Polish investors in a $55 million deal. According to SkyCity, this money would help it repay its outstanding debts.

While SkyCity continues to have a favorable partnership with GiG through the two businesses’ SkyCity Online Casino partnership, the holding decided to divest its shareholding in GiG, deeming it to be non-core to its current operations.

SkyCity emphasized that the sale was “strategically necessary.”

In the meantime, the Juroszek family will firmly cement itself as GiG’s largest shareholder.

The Juroszeks Double Down on GiG

The Polish investor family has been GiG’s largest shareholder for almost a year now. The Juroszeks acquired an 11.08% stake in GiG in July 2023, believing it to be an undervalued business. The Polish family’s interest in GiG followed the sale of its 70% stake in STS to Entain in June 2023.

By doubling down on GiG, the family demonstrates its trust in the business’s future.

The new shares have been split among a number of entities run by Juroszek family members, including, Betplay Capital, Betplay Capital Foundation, Juroszek Holding, MJ Foundation, MJ Investments and ZJ Foundation.

Mateusz Juroszek commented on the matter, calling GiG “one of the most attractive” iGaming businesses on the market right now. He added that his family sees great potential in the company and the online gaming industry as a whole.

As a family we should be the ones to stand up and show our commitment – we want to be the biggest shareholders as we believe in the businesses.

Mateusz Juroszek

The family’s increased investment comes ahead of GiG’s strategic split, which would see its Sportsbook & Platform and Media (now rebranded as Gentoo Media) divisions become separate entities.

The Juroszek family has a presence across both divisions’ boards.

In other news, GiG just completed a €15 million ($16.1 million) bond issue that will help it acquire CasinoMeister and serve its corporate goal. GiG’s recent business moves also saw it move in for Titan in a deal that is expected to help GiG reduce its SEO-related costs.

Journalist

Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at GamblingNews.com is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.

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