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GiG is approaching the completion of its acquisition of an 80% stake in 888Africa, marking a significant new chapter for the group. It is an unexpected return to B2C for GiG, but one that group CFO Phil Richards believes can deliver immediate earnings while providing a stronger foothold in Africa.
Last month, GiG Software plc announced plans to acquire an 80% stake in Evoke’s 888Africa, in a deal valued at up to €16.4 million ($19.1 million).
To fund the acquisition, the company intends to raise €2.5 million through a directed share issue and €6 million through convertible debt. The deal marks its return to B2C after becoming a pure play B2B platform play in 2023.
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EDITOR’S NOTE: A new “Vegas Myths Busted” publishes every Monday, with a bonus Flashback Friday edition. Today’s edition originally ran on Jan. 15, 2024.
In the 1960s, back when Las Vegas’ Meadows Addition neighborhood was nice, showgirls lived there. They liked to sunbathe au naturel at their apartment pools because they didn’t like tan lines.
That’s the commonly told story of how the Naked City, a community of low-rent apartment buildings and houses in the shadow of the Stratosphere just north of the Las Vegas Strip, got its nickname.
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As a team that year we had already covered several Bitcoin events including Bitcoin London and Le Web, both featuring Bitcoin enthusiasts who were eager to educate the world on this groundbreaking technology. EiG 2013 attracted several professionals in the Bitcoin space as well, at the time with a focus on introducing Bitcoin as a payment system for iGaming operators.
Calvin took notice of Bitcoin in the early days, immediately identifying its vast potential for his “first love”, the iGaming industry. Little did I know just how significant Bitcoin would become for CalvinAyre.com, Calvin Ayre as a person and myself as a professional. Fast forward to February 2021 and its time for CalvinAyre.com to hang up its hat. Bitcoin has actually become my calling.
The Bitcoin ecosystem, now in the form of BitcoinSV, has advanced to a level where so many of the pain points within the gaming industry can be solved with Bitcoin technology. For this reason, from today, I’m moving over to CoinGeek.com full time with a laser focus on raising awareness of BitcoinSV within the gaming industry and highlighting the innovative minds and relevant BitcoinSV-powered solutions currently existing in the market.
