GiG completes purchase of 80% of 888AFRICA for €16.4M

Gaming Innovation Group (GiG), through GiG Software Plc, completed on 12 October 2026 the acquisition of 80% of 888AFRICA for a total consideration of €16.4 million. GiG paid €6.1 million at closing and agreed to settle the remainder, €10.3 million, in several instalments over the following ten months. The transaction closed after satisfaction of the conditions precedent set out in the share purchase agreement signed on 28 September 2026.

Financial details of the transaction

The total purchase price disclosed for the acquisition amounts to €16.4 million, split between an immediate payment of €6.1 million and deferred payments totalling €10.3 million over a ten-month period. No additional guarantees were announced and no specific intermediate instalment dates were disclosed beyond the ten-month horizon.

GiG finalises ownership of the remaining 20%: the company will not acquire the remaining 20% stake in 888AFRICA and therefore will retain third parties as minority shareholders in the acquired entity.

Operational footprint and licences of 888AFRICA

888AFRICA operates across several African markets and holds regulatory licences in Angola and Tanzania, in addition to having a significant market position in Mozambique. GiG cited the transaction value as immediate access to a consumer-facing operation already deployed in those territories, rather than a greenfield market entry.

The acquisition adds to the group a consumer-facing operator, which complements GiG’s profile that has traditionally been positioned as a technology and services provider for online gaming. Integrating 888AFRICA shifts the group’s activity mix toward direct-to-consumer operations in regulated African markets.

888AFRICA operational performance ahead of the sale

In the second quarter of 2026 888AFRICA reported revenue growth of 17% quarter-on-quarter and 30% year-on-year. The company declared an Adjusted EBITDA margin of 13% and net cash inflows in excess of €892,500 (approximately US$1 million). The estimated annualized net gaming revenue was €44.62 million (approximately US$50 million).

These operating metrics formed part of the strategic rationale for the acquisition: GiG buys an entity with recent revenue growth, positive operating profitability and an annualized revenue base approaching €44.62 million.

Management statements

"This is a new dawn for 888AFRICA and we have the clearest growth plan for the African markets where we operate and the new markets we will enter," said Christopher Coyne, CEO and co-founder of 888AFRICA, in a LinkedIn post. Coyne specifically thanked Vaughan Lewis and Daniel Burns for their support of the team and the vision.

GiG also set out the strategic reading of the deal. Richard Carter, CEO of Gaming Innovation Group, said the acquisition increases the group’s scale and expands entry opportunities into regulated African markets. The Malta-headquartered company is listed on Nasdaq First North Premier Growth Market in Stockholm and this transaction represents its first material growth-by-acquisition move in the African region.

"The acquisition provides us with a business-to-consumer platform that complements our technology and services capabilities," said Richard Carter.

Implications for GiG strategy and the African market

The purchase gives GiG direct exposure to local operators in markets where 888AFRICA already holds active licences. The acquisition provides a regulated entry point in Angola and Tanzania and a consolidated position in Mozambique. For technology suppliers and investors, the deal signals GiG’s intention to combine B2B and B2C offerings on the continent.

For operators and suppliers monitoring the group's evolution, integrating 888AFRICA will require work on local regulatory compliance, commercial synergies and product adaptation to the specific conditions of each African market.

Practical advice for counterparties and suppliers

Suppliers serving GiG and 888AFRICA will need to prepare capabilities in local compliance controls, payments, and product adaptation for regulated African markets. The deal suggests demand for integrated services combining technology and operational execution to enable rapid expansion in territories where 888AFRICA already has presence.

For investors, the transaction provides a case study on valuing local operators with quarterly growth of 17% and defined operating margins, helping calibrate expectations for future acquisitions in the region.

Corporate context and continuity

GiG operates from Malta and used GiG Software Plc as the vehicle for the transaction. The company is listed on Nasdaq First North Premier Growth Market in Stockholm. The transaction was recorded following the conditions agreed on 28 September 2026 and was signed and executed on 12 October 2026.

The acquisition of 888AFRICA represents a corporate move with direct impact on GiG’s growth strategy in Africa and adds an established operation to the group’s portfolio.