Gentoo Media shut Norwich hub in Q1 as part of operational structure shift
Affiliate’s closure of its only UK office resulted in 41 job losses, as CEO Jonas Warrer says decision supports “our strategic vision to reduce complexity”
Gentoo Media has confirmed its Norwich office was closed down in Q1 2026, resulting in 41 job losses and two senior positions being “terminated”.
The news was announced in the affiliate’s latest financial report, in which management reported revenue of €24m (£20.8m) and a strategic shift toward a “leaner, more focused and more profitable business”.
Due to the costs associated with the closure in March, special items for the quarter amounted to €1.6m, while the move resulted in a non-cash impairment of €2.6m.
The company said the shuttering of what was a “non-core activity” reflects a “continued discipline around portfolio quality and capital allocation”
Gentoo Media, which operates sites including AskGamblers, CasinoTopsOnline and World Sports Network, now has 292 full-time employees across four sites: Copenhagen, Belgrade, Valencia and St Julian’s in Malta.
On the decision, CEO Jonas Warrer said: “While the closure resulted in a non-cash impairment of €2.6m, it removed a non-core activity, thus supporting our strategic vision to reduce complexity.
“This supports the overall health and focus of the group going forward.”
Financially, Q1 revenue of €24m represented a 5% year-on-year decrease, with bosses pointing to softer sports margins in February and “continued prioritisation of higher-value and more profitable revenue streams”.
EBITDA before special items jumped 19% YoY to €10.5m, with a margin of 44% – up from 35% the year prior.
Player deposit volumes stayed above €200m for a second consecutive quarter, as first-time depositors stood at 81,400 – down from 95,100 12 months earlier.
Gentoo’s share price is down some 7% at the time of writing to SEK6.21.
Gentoo Media attributed the decline to “continued discipline in paid media capital allocation, reduced exposure to lower-returning acquisition channels and the portfolio simplification initiatives executed during 2025”.
Revenue share arrangements with operators represented 60% of total revenue, while CPA accounted for 14% and listing fees and other revenue made up the remaining 26%.
In North America, the affiliate said player intake remained “stable” YoY, as the region continued to develop positively on the back of sports-related acquisition activity.
Commenting on the performance, Warrer said: “Overall, Q1 confirms that Gentoo Media has entered 2026 with a more stable and efficient operating model.
“The work completed in 2025 has created a stronger foundation, with lower costs, improved focus and a clearer path towards sustainable profitability and cash generation.
“While short-term volatility remains part of our industry, we are confident in the quality of our assets, the strength of our commercial engine and the opportunities ahead.
“We remain focused on our 2026 priorities: driving higher-quality revenue, strengthening flagship brands and integrating AI-driven capabilities across content, product and acquisition channels.
“Combined with a leaner organisation and improved financial flexibility, this positions Gentoo Media well for long-term value creation.”
Management said the business enters the remainder of 2026 on a “stronger footing”, with a “leaner, more scalable operating model with clear line of sight to sustained profitability and cash generation”.
Gentoo Media fell one spot to fifth in the 2026 EGR Power Affiliates rankings.