Hugh James Advises On GiG's €16.4m Deal To Buy Majority Stake In 888AFRICA
Welsh law firm Hugh James has advised 888AFRICA and its founding shareholders on a deal that will see betting sites provider GiG Software acquire an 80% stake in the African operator for approximately €16.4 million.
Under the terms confirmed by GiG's own investor announcement, the company agreed to principal commercial terms with Virtual Emerging Entertainment Limited, a subsidiary of Evoke plc, to acquire a majority stake in 888AFRICA.
The consideration is split between an initial payment of roughly €6 million and deferred consideration of about €10.4 million, with the remaining 20% of the shares held by the founders, who continue to run the business day-to-day.
GiG Funds The Deal Through Directed Share Issue
GiG said it would fund the acquisition through a combined share issue and convertible loan package worth €8.5 million, split roughly 70:30 between equity and loans.
The board said it opted for a directed issue rather than a rights offering because it could be completed faster and with fewer execution risks, while still allowing existing and new investors to participate.
888AFRICA operates the 888bet brand across multiple African markets and is described by GiG as a cash-generative, profitable, fast-growing business-to-consumer operator.
The acquisition marks GiG's return to directly operating a consumer-facing brand after six years focused on supplying software and services to other operators.
Another High-Profile Cross-Border Deal
Hugh James advised 888AFRICA and its founders on the revised shareholding structure and the full transaction documentation, having also worked on the original Heads of Terms.
The team was led by corporate partner and head of commercial Aled Walters, supported by corporate and commercial partners Andrew Hoard and Gemma Davies and associates Daniel Tedd and Joshua Lee.
"This was another high-profile deal for Hugh James in the gaming sector, again with cross-border and complex jurisdictional matters," Walters said, in comments reported by Insider Media.
888AFRICA chief executive Christopher Coyne said the Hugh James team "provided clear, commercial and highly responsive advice throughout this transaction," adding that its understanding of the gaming sector and cross-border issues made it "a valued adviser" as the deal progressed.
The transaction remains subject to regulatory approvals and the signing of a full share purchase agreement.
GiG, founded in 2012 as Gaming Innovation Group, describes itself as a leading B2B igaming technology company that supplies a proprietary platform, sportsbook, data, and managed services to operators across 31 regulated markets, according to its 2025 annual report.
The 888AFRICA deal marks a deliberate shift back toward owning a consumer-facing brand after years spent focused purely on supplying software and services to third-party operators.
The company has signalled its intent to expand further in high-growth African markets, where regulated online betting penetration remains low compared with Europe.
