Exclusive: GiG board member lauds AskGamblers as cornerstone for firm’s success
Tomasz Juroszek claims the acquisition of AskGamblers from Catena Media in 2022 was “some of the best money spent” in the history of acquisitions by GiG
Gaming Innovation Group (GiG) board member Tomasz Juroszek believes that the AskGamblers acquisition has been the catalyst for the firm’s recent positive performance.
GiG acquired the brand from Catena Media in December 2022 for €45m, and since then, AskGamblers has gone from strength-to-strength.
According to GiG’s Q4 report, since the completion of the deal, AskGamblers’ EBITDA has more than doubled, while the final three months of the year represented a record quarter for revenue for the site.
Additionally, revenue grew 32% compared to Q3, while player intake jumped 12%, with GiG Media delivering record revenue of €26.5m, a 49% year-on-year leap.
Juroszek was appointed to GiG’s board of directors in May 2023 after being put forward by Betplay Capital, the Malta-based firm’s largest shareholder.
Speaking exclusively to EGR, Juroszek commented on how GiG’s acquisition of the AskGamblers brand from Catena was one of its biggest masterstrokes.
He said: “[AskGamblers’ performance] is amazing because it was a company that nobody believed in anymore because it was a declining asset. I admire what Jonas [Warrer] has done with that asset. It wasn’t easy to convince investors that it was possible.
“I am relieved that we were convinced to invest in that opportunity. I think that it was some of the best money spent probably in the history of acquisitions by GiG.”
The board director believes the AskGamblers brand “still [has] a lot of room for improvement” and can get “even bigger in the future.”
GiG is currently undergoing a strategic review process to split the company into two parts: platform and media.
Juroszek shared an update on its progress: “This should happen in Q2. There will be further details given following the conclusion of Q1, but the process is ongoing, and the auditors are working with the company on that.
Once the split is complete, Juroszek noted: “From the media side, there will be a focus in the near future on further acquisitions and increasing market share in crucial markets.
“For now, I think it is about increasing some assets following previous acquisitions and gaining a presence in South America.
“On the platform side, it will be about getting as many partnerships as possible, getting new clients and improving the technology and profitability. I believe that after the split both components will be able to operate even smoother than now.”
EGR has approached Catena Media for comment as a right of reply to comments made in this article.