Information on the target
GiG Software Plc (GIG_SDB.ST) is a prominent B2B iGaming technology company that specializes in providing innovative solutions for the online gaming industry. Recently, GiG announced a strategic move to acquire an 80 percent stake in 888AFRICA, a rapidly growing B2C operator in the African market, for a total consideration of 16.4 million euros. This acquisition is expected to close by September 30, 2026, marking a significant step in GiG's expansion strategy.
888AFRICA has established a strong presence in Mozambique and holds licenses for operations in Angola and Tanzania. The company is currently generating an annualized net gaming revenue (NGR) run rate of approximately $50 million, showcasing its robust growth trajectory. In the second quarter of 2026, 888AFRICA reported a remarkable 17 percent increase in revenue quarter-on-quarter and a 30 percent increase year-on-year, with an adjusted EBITDA margin of 13 percent.
Industry overview in the target’s specific country
The Casinos & Gaming (NEC) industry in Africa is experiencing a transformative phase, driven by increasing regulatory frameworks and a growing appetite for online gaming solutions. Countries like Mozambique, Angola, and Tanzania are witnessing a surge in demand for gaming services, fueled by a young and tech-savvy population. This demographic shift is creating a fertile ground for B2C operators like 888AFRICA, which are well-positioned to capitalize on the expanding market.
In Mozambique, the government has been proactive in establishing a regulatory environment that encourages investment in the gaming sector. This has led to the emergence of several licensed operators, contributing to a more structured and competitive landscape. Similarly, Angola's recent regulatory reforms have opened doors for international operators, enhancing the overall growth potential of the gaming industry in the region.
Tanzania is also making strides in the gaming sector, with a focus on attracting foreign investment and promoting responsible gaming practices. The combination of regulatory support and a growing consumer base is expected to drive significant growth in the Casinos & Gaming industry across these countries. As a result, operators are increasingly looking to expand their footprint in Africa, making it an attractive destination for investment.
The rationale behind the deal The acquisition of 888AFRICA by GiG Software Plc is strategically aligned with the company's goal of enhancing its scale and geographic diversification. By entering the high-growth African markets through an established operator, GiG aims to leverage …