Gentoo Media has appointed Måns Svalborn as its new chief financial officer, with the experienced finance executive set to begin the role in early October.
Svalborn steps into the position vacated by Mads Haugegaard Albrechtsen, who resigned on 28 May after guiding the business through a significant period of restructuring.
Gentoo confirmed that its strategy, operations and financial outlook remained unchanged following Albrechtsen’s departure, signalling continuity despite the senior leadership change.
Svalborn arrives with more than 20 years of finance experience, including over six years as group CFO at Raketech, a fellow listed gambling affiliate company.
His responsibilities at Raketech extended well beyond traditional finance duties, covering legal work, compliance, investor relations and the practical management of day-to-day business operations.
He also led funding rounds, navigated capital markets, handled governance matters and oversaw cross-border acquisitions during his tenure at the company.
Earlier in his career, Svalborn held senior finance positions at Nordea Bank, and before that completed audit work at Ernst and Young.
CEO Jonas Warrer expressed confidence in the appointment, stating: “[Måns’] combination of listed-company experience, deep financial expertise and proven leadership within listed iGaming affiliate businesses makes him an excellent addition to Gentoo Media.”
Warrer added: “I am confident he will play an important role as we continue executing on our long-term growth strategy.”
Gentoo has operated as an independent business since Gaming Innovation Group completed its corporate split in September 2024, with the media arm becoming Gentoo and the platform and sportsbook division moving into GiG Software.
The company owns a portfolio of well-known affiliate brands including AskGamblers, Time2Play, CasinoTopsOnline, WSN and Casinomeister, with its shares listed in Stockholm under the G2M ticker.
Svalborn’s arrival follows a period of considerable operational change, with Gentoo removing approximately €3m from quarterly spending during the first three months of the year.
Headcount fell sharply from 404 to 292 employees as the company pushed forward with the strategic reset it began in 2025.
Revenue slipped 5% to €24m, with weaker sports margins contributing to the decline, though EBITDA before special items climbed 19% to €10.5m and the margin widened to 44% from 35% a year earlier.
Operating cash flow improved 61% to €7.4m, while the company also replaced its revolving credit facility with an €18m shareholder-backed loan structure after pausing a planned bond refinancing.
Raketech named Victoria Darmanin interim CFO following Svalborn’s announced departure, as the company pursued its platform-first strategy centred on subaffiliation and AffiliationCloud.
Elsewhere in the affiliate sector, Catena Media expanded its MRKTPLAYS subaffiliate platform through MRKTPLAYS+ in January, with first-quarter revenue rising 26% and adjusted EBITDA increasing 191%.
Better Collective continued trimming costs while increasing paid-media spending by 9%, even as staff costs fell 6% across the same period.
The broader affiliate industry continues to trend toward leaner headcounts, larger paid-media budgets and deeper investment in subaffiliate infrastructure heading through 2026.
