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“On the numbers GiG has disclosed it looks cheap,” he says. “€16.4 million for 80% implies an EV of €20.5 million against roughly $50 million of run-rate NGR, 30% year-on-year growth and positive cash generation. €6m of cash on day one for a business generating $50 million of NGR tells you who needed the deal.”
Although Bally’s takeover of Evoke may have prompted a slightly discounted price and a quick decision for GiG to buy 888Africa, the continent has been part of GiG’s plans for a while Richards insists. “We received the information memorandum in Q2 2026,” Richards adds. “Africa has long been a market that our CEO Richard Carter has admired and his insight enabled us to move quickly to be able to announce the principal commercial terms at our results at the end of August.”
Both Richards and Ahlberg state this acquisition doesn’t reflect a turnaround story for 888Africa, with a management team led by industry veteran Christopher Coyne and a footprint in some of the continent’s fastest-growing markets.
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“The NLRB decision overturned the clear vote of Red Rock team members rejecting the Culinary Union,” Station said in a statement. “The decision prevents any company from granting benefits to its employees if it is aware of union interest in unionising the company’s employees and nullifies the Red Rock team members’ vote to be union-free, all because Station Casinos treated its team members too well.”
The culinary union declined to comment to iGB on Wednesday.
Station and Culinary have been at odds for many years, and this has included everything from back-and-forth barbs in the media to complaints before Nevada regulators and ultimately a number of court challenges. The December 2019 Red Rock election has proved to be perhaps the most significant development in their relationship thus far.
