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Some analysts have questioned whether this deal marks the beginning of an M&A spree for GiG as it looks to re-enter the B2C space.
But that isn’t the case according to Richards: “We are not signalling plans to re-enter B2C elsewhere; Africa is a distinct case: a high-growth, underpenetrated region where owning a local operator makes strategic sense in a way it may not elsewhere.”
There’s also a financial constraint, with Ahlberg noting that GiG has used its available cash and is raising additional capital to fund the 888Africa transaction, meaning he doesn’t expect the company to pursue further B2C acquisitions in the short term.
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He also pointed to the self-exclusion mechanism adopted by the government.
“The debate about prohibition will remain open in the country for the next few years,” he said. “It will be an institutional debate between the Supreme Court, Congress and the executive branch.
Durigan did not indicate that the government would prohibit the activity.
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Spotlight, the group behind the media outlet Racing Post, hired Adam Gill as its new CTO in June amid continued investment in expanding the company’s product offering.
Gill, who joined from the market research company Savanta, is leading Spotlight’s technology and engineering across the group with a focus on engaging new audiences.
“As Racing Post enters its 40th year, there is a real opportunity to use technology to engage new audiences, deepen the value we deliver to operators and make AI a practical capability across the business,” Gill commented.
