Happy Apples

How to play Happy Apples

“It’s profitable, it’s growing and it was for sale from a distressed vendor,” he says. “That combination rarely appears in regulated Europe, where scaling a B2C brand means paying up for customers against Flutter and Entain on thin margins.

“Africa isn’t saturated, but I wouldn’t call it easy either. Betway and the local incumbents are well dug in. The difference is that you’re competing for a market that’s still forming, at a fraction of the acquisition cost, and the operating margin is there if you get the payments and the product right. The risk is regulatory and currency rather than competitive.”

GiG’s immediate priority following the completion of the deal will be disciplined integration, says Richards. This includes bringing 888Africa’s financial reporting, compliance and operational processes in line with GiG’s standards.

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Revenue from land-based casinos edged up 1.5% to R3.42 billion, with Sun International’s share of the market rising 2.3% to 49%.

Sun International attributed the land-based growth to investments in product and marketing, with land-based casino GGR growing 4.4%. The company launched 876 new slot machines and stadium games during the period.

Bengtsson said the land-based growth reflected Sun International’s “strong execution and sound investment decisions”.

How to play Happy Apples

Representatives from Corinthians, Palmeiras, São Paulo, Santos and Juventus met last week at the São Paulo Football Federation to discuss measures in response to the ban on betting advertisements in the city.

One of the proposals could be voted on next week by the city council and would directly affect the city’s clubs.

The meeting brought together 40 professionals from the clubs’ legal, communications and marketing departments, as well as executives from companies in the betting sector. Club officials are concerned about the financial impact of the measures, which could impact sponsorship contracts signed with betting companies.