GiG Completes €16.4 Million Acquisition of 80% Stake in 888AFRICA

Gaming Innovation Group (GiG), through GiG Software Plc, has completed the acquisition of an 80% stake in 888AFRICA for €16.4 million. The deal brings the African betting and gaming operator into the group, with licensed operations in Angola and Tanzania and what GiG describes as a market-leading position in Mozambique.

On 1 October 2026, GiG confirmed completion after meeting all conditions outlined in the share purchase agreement announced on 28 September. The company paid €6.1 million at completion, with the remaining €10.3 million payable in installments over the next 10 months.

For 888AFRICA, the change in ownership comes with plans to grow its existing operations and expand into additional African countries. In a personal LinkedIn post following the deal, Co-Founder and Chief Executive Officer Christopher Coyne shared that the company had a clear direction for that growth.

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“It is a brand new dawn for 888AFRICA, and we have the clearest growth plan forward on African markets where we are live today, and new African markets we will move into,” Coyne wrote.

He said he and GiG Chief Executive Officer Richard Carter were aligned on the company’s direction and ambitions. He also thanked the executives, colleagues, and advisers involved in completing the deal and acknowledged the support of former partners.

GiG’s announcements place the acquisition alongside recent growth at 888AFRICA. In the second quarter of 2026, the operator’s revenue increased by 17% quarter-on-quarter and 30% year-on-year. Its adjusted EBITDA margin reached 13%, while the business generated more than US$1 million in net cash during the quarter.

The company also reported an annualised run rate of approximately US$50 million in net gaming revenue for 888AFRICA. This estimates annual revenue based on the business’s current revenue pace.

 “This acquisition is a major step forward in GiG’s growth journey. 888AFRICA brings proven scale, strong market positions and significant growth momentum in some of Africa’s most attractive regulated markets,” said Carter while commenting on the acquisition. “Together, we have an exciting opportunity to accelerate growth, expand our global reach and create substantial long-term value for the Group.”