Gentoo cuts FY guidance after World Cup disappoints
27 AUG 2026
By
Stephen
Carter
Head of content
Gentoo Media has lowered 2026 revenue and EBITDA targets after an anticipated trading boost from the World Cup failed to materialise.
Revenue fell 9% YoY to €22.9 million as stronger player activity driven by marketing around the World Cup failed to translate into revenue uplift, “partly reflecting softer sports margins and the timing of revenue recognition from newly acquired revenue-share players”, said CEO Jonas Warrer (pictured).
“However, the larger and more active player base provides the potential to generate recurring revenue over future periods”, he added, referencing the record deposit values of €207 million and 25% increase in FTDs to 101,900 vs the prior quarter.
The group also blamed the revenue decline on ongoing impacts from the portfolio simplification started in 2025 and toughening UK market conditions wrought by the recent operator tax hikes.
Despite the revenue performance, EBITDA before special items increased 5% to €8.9 million, with the margin widening by five percentage points to 39%.
The rationalisation of the cost base undertaken throughout 2025 and into 1Q26 was reflected in personnel expenses falling 12% YoY to €7.2 million and operating expenses by €2.6 million to €14 million. Gentoo said it had now achieved the EUR €8–10 million annualised savings target communicated to the market last year.
Gentoo also continued to improve and streamline its operational infrastructure in the second quarter, further developing core assets such as AskGamblers and Casinomeister, preparing its sports products for the World Cup, migrating more sites onto its next-gen WordPress platform and introducing more AI-supported content workflows such as an internal assistant for its publishing teams.
Noting that “AI-driven discovery platforms and changing user behaviour are gradually reshaping how users discover and engage with content online”, Gentoo said it “continues to invest in product, technology and platform development to improve visibility, user engagement and monetisation across both traditional search and emerging AI-driven discovery channels.”
The Nasdaq Stockholm-listed group now expects revenue in the range of €97-100 million and EBITDA of €44–47 million for 2026, compared to the previous guidance of €100-115 million in revenue and €49-51 million in EBITDA.
