Sea Of Riches

About Sea Of Riches

Corfai Capital Managing Partner and Founder Ben Robinson is even more bullish on the price, pointing to the circumstances in which GiG was able to acquire the business.

“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.”

About Sea Of Riches

For Splash Tech, optimisation means protecting a safe and enjoyable experience while giving operators the opportunity to increase gross gaming revenue. “Getting that balance right is why we exist, really,” Wilson says.

These are not capabilities that Splash Tech intends to begin developing now the acquisition has completed. Its products are already live with recognised operators including ComeOn, while a number of its free-to-play relationships are entering their fifth year.

Commercial confidentiality prevents Wilson from attaching individual numbers to those partnerships, but he is unequivocal about the jackpot engine’s record. “Every operator or brand that’s launched our jackpot engine has seen an immediate lift in GGR,” he says.

How to play Sea Of Riches

“It’s not a dark alley,” he continues. “It’s a large operator that’s regulated in other places, so it’s not the risk for the player that sometimes is implied.”

With the central challenge of tax to compete with, operators face a test of whether they can maintain growth while remaining competitive in an increasingly fierce market.

Escobar expects the competitive landscape to evolve as the market settles, with operators facing a different set of priorities from those that defined Peru’s initial regulatory rollout.