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“We are deliberately not pursuing an aggressive expansion agenda in the early months,” he explains. “We want to prioritise integration and consolidating our existing positions first, and only look at new market entry once we are confident the operational foundations are in place.”

Some analysts have questioned whether this deal marks the beginning of an M&A spree for GiG as it looks to re-enter the B2C space.

But that isn’t the case according to Richards: “We are not signalling plans to re-enter B2C elsewhere; Africa is a distinct case: a high-growth, underpenetrated region where owning a local operator makes strategic sense in a way it may not elsewhere.”

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One such rule was for licensees that had faced compliance enforcement during the five years operating in the Netherlands.

At the time KSA announced: “Providers that made mistakes in the past five years must explain during the application process how they have learned from previous mistakes and how they intend to prevent recurrence. If we find this explanation insufficient, the permit may be denied or additional conditions and restrictions may be imposed.” 

This requirement raised concerns among operators worried that the barriers to entry could have become more restrictive, But at a meeting on the policies last year the regulator assured licensees it was not enforcing a specific strict rule on this.

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The offences relate to special betting markets that let customers wager on the exact date of the general election.

The then-prime minister, Rishi Sunak, announced 4 July 2024 as the election date on 22 May 2024. However, internal planning for that date had already begun at 10 Downing Street and Conservative Campaign Headquarters before the announcement.

Anthony Lee’s senior campaigning role gave him access to confidential discussions about the election timing. Rather than keeping that information confidential, he placed bets and passed it to his wife. She then used the information to place her own bets.