GiG buys 80% of 888 Africa for €16.4M as shares slide 18%
What's the deal? GiG SoftwareDealroom has a profile for this one. Try Dealroom → will acquire an 80% stake in 888 Africa for €16.4 million, the Malta-based iGaming platform provider announced on August 26 alongside its Q2 2026 results. It described 888 Africa as a cash-generative operator in high-growth African markets.
Why now? The acquisition anchors what GiG called a strategic transformation built around cost reduction and expansion. Management said it secured additional funding for the deal and expects the acquisition to lift cash flow in the second half.
The numbers: GiG reported quarterly revenue of €8.8 million, down 5.4% year-over-year, and adjusted EBITDA of €0.8 million. Operational cashflow improved by €0.5 million quarter-over-quarter, though headline figures declined from the prior year.
What could go wrong? The market reaction was negative. Shares fell 17.68% to $1.42 after the presentation and were trading near $1.46 — close to the lower end of the 52-week range of $1.23 to $6.61.
Investors focused on the revenue decline and reduced cash position rather than management's emphasis on the underlying business. GiG said the headline figures showed strength once adjusted for one-off factors.
The signal: GiG is betting on African markets to offset softening core revenue, but investors want proof before the growth story pays off.
Read more: 5star.media
Image credit: Jorge Lascar
