GiG Returns to B2C with 888Africa Acquisition

GiG has agreed to acquire an 80% stake in 888Africa, marking its return to B2C six years after selling its casino brands to Betsson.

GiG went from B2C to B2B in 2020 and, after six years, is now stepping back into the world of B2C. Once the deal closes, it will own a B2C operator for the first time since selling its online casinos to Betsson. The company has agreed terms to acquire an 80% stake in 888Africa, which it says will add recurring revenue to its core B2B business.

GiG: From B2B to B2C

GiG has changed shape several times since it launched:

2012: Gaming Innovation Group (GiG) started as an iGaming company founded by Robin Reed and Frode Fagerli. It was built on the back of the Donkr poker community.
2013: The company launched Guts in 2013 and later expanded into the B2B world.
2020: The combined B2B and B2C strategy continued until 2020, after which GiG sold its casino operator portfolio, including Rizk, Guts, Kaboo and Thrills, to the Betsson Group.
2024: GiG split its business in two. The media and affiliate side became Gentoo Media, while the platform and sportsbook business continued as GiG Software, the company behind this deal.

The past 12 months have brought many challenges.

GiG's Q2 2026 revenue fell 5% year-on-year to €8.8 million, which it linked mainly to the insolvency of client Richmond Atlantic.

Management appears to have decided to bet on emerging Africa in hopes of reversing this downward trend. Redeye analyst Hjalmar Ahlberg has also suggested the move may partly reflect headwinds in GiG's B2B business.

A deal in progress

GiG has agreed principal commercial terms to acquire 80% of 888Africa from Evoke subsidiary Virtual Emerging Entertainment Limited for €16.4 million. The deal is still subject to approvals and the signing of a share purchase agreement.

The transaction is expected to be completed by the end of September 2026. The initial payment will be funded via a directed share issue and convertible loans. They aim to raise €8.5 million in total.

The deal is made up of a €6 million initial payment and a deferred consideration of €10.4 million. The remaining 20% will stay with 888Africa's founders, who will also continue to be involved in running the business. For 888Africa's players, this means the same team stays in charge.

It's not the only big deal for Evoke this year. The company has agreed to a £243.1 million takeover by Bally's Intralot.

Introducing 888Africa

888Africa operates in various African markets, which include Tanzania, Angola, and Mozambique. Launched in late 2022, it has grown to around $50 million in annualised net gaming revenue (NGR) in under four years. Its 888bets brand focuses on sports betting, alongside crash games like Aviator, which are becoming increasingly popular across Africa.

According to GiG CEO Richard Carter, the investment would give the company exposure to a region that has great room for gaming growth.

Carter pointed to three factors that support the investment:

Africa's demographic growth
Increased mobile connectivity
The expansion of regulated gambling markets

Carter said GiG will focus on integrating 888Africa into its operations and growing recurring revenue after the takeover, rather than immediately pursuing further acquisitions or expanding into a large number of new markets. He added that this means a more measured pace of standalone top-line growth in the near term and a leaner, more sustainable and cash-generative core business.

GiG is also planning to establish a B2B operation in Africa within the next 12 months.

Reshaping GiG's growth model

The deal will expand GiG beyond its core role as an online casino platform and sportsbook technology supplier. Today, its technology powers online casinos and sportsbooks run by other operators. Through 888Africa, it will gain direct exposure to player revenue, operating margins, and consumer acquisition across three African markets.

This is not a small shift. GiG won't turn into a casino group overnight, but owning 888Africa puts it on both sides of the gambling industry. It supplies the technology and runs the brands.

According to GiG, 888Africa holds a market-leading position in Mozambique while also operating in Angola and Tanzania. GiG describes the business as:

Cash-generative
Profitable
Fast-growing

This makes its earnings profile central to the acquisition rationale.

While there are strong signs of iGaming demand in several African markets, which could benefit GiG, there are also local processes to consider. By owning a B2C operator, GiG is also exposed to local licensing, payments, marketing, and player protection requirements, which differ from country to country across Africa's gambling industry.

All in all, what's coming next is the signing of the share purchase agreement. The deal should be completed by the end of September 2026.

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Last updated: September 18, 2026

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GiG returns to B2C with 888Africa acquisition

GiG: From B2B to B2C

A deal in progress

Introducing 888Africa