Platform provider GiG Software plans to acquire an 80% stake in 888Africa, Evoke's African arm, in a deal valued at up to €16.4m.
GiG will raise €8.5m to fund the purchase: €2.5m through a private placement and €6m via convertible debt. The upfront payment is set at €6m, with a deferred component of €10.4m. The company chose private placement over a rights issue for speed, lower transaction costs and reduced pressure on the share price.
GiG describes 888Africa as a profitable, fast-growing B2C operator. The group forecasts combined revenue of €44–48m in 2026, with adjusted EBITDA of €5–7m, assuming a full contribution from the asset in Q4 2026.
Evoke will retain 20% and remain involved in management, though it is itself being acquired by Bally's Intralot in an all-share deal worth £243.1m. Bally's Intralot CEO Robeson Reeves has said he is interested in Evoke's assets in Italy, Romania and its UK retail estate. Additional disposals would require exceptionally high offers.
The 888Africa brand launched in 2022 under an Evoke licence. In August 2023 the company acquired BetLion, a licensed operator in Kenya and Zambia since 2019. Evoke closed operations in ten African markets in 2025, including Angola, Kenya, Nigeria and Mozambique, as part of restructuring ahead of the group sale.
