About this app
About Fire My Laser
GiG is approaching the completion of its acquisition of an 80% stake in 888Africa, marking a significant new chapter for the group. It is an unexpected return to B2C for GiG, but one that group CFO Phil Richards believes can deliver immediate earnings while providing a stronger foothold in Africa.
Last month, GiG Software plc announced plans to acquire an 80% stake in Evoke’s 888Africa, in a deal valued at up to €16.4 million ($19.1 million).
To fund the acquisition, the company intends to raise €2.5 million through a directed share issue and €6 million through convertible debt. The deal marks its return to B2C after becoming a pure play B2B platform play in 2023.
About Fire My Laser
The press release also warned operators against complying with any payment requests from departments that aren’t legally authorised to do so.
It called for any such acts to be reported immediately to the Ministry of Finance and the Directorate General of Administrative, Judicial, State Property and Equity Revenues (DGRAD).
The DGRAD has been tasked with identifying and securing the cancellation of any irregularly issued payment notices.
How to play Fire My Laser
“Our focus has always been on providing our customers with reliable technology, deep expertise and long-term partnership, said Torrejón and Gábor.
“Joining OpenBet gives us the opportunity to build on that foundation as part of one of the world’s leading sportsbook businesses. For our customers, it brings the additional scale, capabilities and product portfolio of OpenBet, while maintaining the specialist knowledge and continuity they value today.”
Last year, OpenBet completed its management buyout in a $450 million deal that saw CEO Jordan Levin and other senior executives take control over the platform business from Endeavor.
