Gentoo Media Issues Financial Restatement: Commitment to Transparent Reporting
Gentoo Media, a prominent player in the iGaming affiliate space managing brands like AskGamblers and CasinoTopsOnline, has unveiled plans to restate its previously issued financial statements. This announcement comes after a thorough review conducted by the company's Audit Committee, in collaboration with external legal advisers and the appointed group auditor. The review aimed to ensure the integrity of the financial reporting and identified a series of errors in earlier financial documents.
The errors included certain misstatements which were previously deemed immaterial during the audit of the 2024 financial statements, alongside newer items that were detected. Upon aggregation and assessment, the Board of Directors determined that the cumulative effect of these inaccuracies warranted a restatement to provide a true and fair view of the company’s financial health.
As a result, Gentoo Media will amend figures in several financial reports:
1. The audited consolidated financial statements for the fiscal year ending December 31, 2024.
2. The unaudited consolidated interim financial statement for Q3 2024 of the fiscal year ending December 31, 2024.
3. The unaudited consolidated interim financial statement for Q4 2024 of the fiscal year ending December 31, 2024.
4. The interim financial statements for the first and second quarters of the fiscal year ending December 31, 2025.
These adjustments will include necessary updates to affected line items and accompanying disclosures, ensuring that stakeholders receive accurate and reliable financial information. The precise financial implications of these corrections will be detailed in Gentoo Media’s Q3 2025 Interim Report, released on November 18, 2025. Overall, the review is expected to reduce the reported revenue and profit for 2024 while increasing revenue and profit figures for the first half of 2025. Importantly, the company affirmed there would be no impact on cash flow due to these adjustments.
This move towards a restatement underscores Gentoo Media's dedication to transparency and robust financial reporting in the wake of its recent independence from GiG's Platform and Sportsbook operations. The company has prioritized bolstering its financial control mechanisms throughout 2025, focusing on enhancing reporting accuracy, governance practices, and operational integrity.
Moving forward, Gentoo Media is committed to maintaining clear communication with investors, analysts, and other stakeholders, ensuring they are well-informed regarding the implications of the adjustments made. Through these efforts, Gentoo intends to preserve trust and confidence among its partners and the broader financial community.
For further inquiries, interested parties can contact key executives at Gentoo Media, including Mikael Harstad, Chairman of the Board, Jonas Warrer, CEO, and Mads Haugegaard Albrechtsen, CFO, to receive additional insights regarding the company’s financial strategies and the forthcoming changes to reporting protocols.
As one of the leading names in the iGaming affiliate sector, Gentoo Media connects operators with valuable players through effective lead generation and compliance solutions. The firm remains committed to innovation and sustainable growth, leveraging its wide array of platforms such as WSN and Casinomeister to deliver excellence to its stakeholders.
The errors included certain misstatements which were previously deemed immaterial during the audit of the 2024 financial statements, alongside newer items that were detected. Upon aggregation and assessment, the Board of Directors determined that the cumulative effect of these inaccuracies warranted a restatement to provide a true and fair view of the company’s financial health.
As a result, Gentoo Media will amend figures in several financial reports:
1. The audited consolidated financial statements for the fiscal year ending December 31, 2024.
2. The unaudited consolidated interim financial statement for Q3 2024 of the fiscal year ending December 31, 2024.
3. The unaudited consolidated interim financial statement for Q4 2024 of the fiscal year ending December 31, 2024.
4. The interim financial statements for the first and second quarters of the fiscal year ending December 31, 2025.
These adjustments will include necessary updates to affected line items and accompanying disclosures, ensuring that stakeholders receive accurate and reliable financial information. The precise financial implications of these corrections will be detailed in Gentoo Media’s Q3 2025 Interim Report, released on November 18, 2025. Overall, the review is expected to reduce the reported revenue and profit for 2024 while increasing revenue and profit figures for the first half of 2025. Importantly, the company affirmed there would be no impact on cash flow due to these adjustments.
This move towards a restatement underscores Gentoo Media's dedication to transparency and robust financial reporting in the wake of its recent independence from GiG's Platform and Sportsbook operations. The company has prioritized bolstering its financial control mechanisms throughout 2025, focusing on enhancing reporting accuracy, governance practices, and operational integrity.
Moving forward, Gentoo Media is committed to maintaining clear communication with investors, analysts, and other stakeholders, ensuring they are well-informed regarding the implications of the adjustments made. Through these efforts, Gentoo intends to preserve trust and confidence among its partners and the broader financial community.
For further inquiries, interested parties can contact key executives at Gentoo Media, including Mikael Harstad, Chairman of the Board, Jonas Warrer, CEO, and Mads Haugegaard Albrechtsen, CFO, to receive additional insights regarding the company’s financial strategies and the forthcoming changes to reporting protocols.
As one of the leading names in the iGaming affiliate sector, Gentoo Media connects operators with valuable players through effective lead generation and compliance solutions. The firm remains committed to innovation and sustainable growth, leveraging its wide array of platforms such as WSN and Casinomeister to deliver excellence to its stakeholders.
Topics Financial Services & Investing）
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