Aztec Treasure Hunt

About Aztec Treasure Hunt

As Merkur’s acquisition of Casigrangi would grant indirect control over SFC, French regulations require Merkur to launch a simplified mandatory tender offer for the remaining SFC shares it does not already hold. 

This tender offer will be at the same price of €6.19 per share.

If successful, Merkur intends to pursue a squeeze-out process, compelling minority shareholders to sell their shares, and subsequently delist SFC from Euronext Paris. 

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According to the court’s statement, the judges rejected challenges from gaming hall operators and said the city’s public decision was legally sound. 

The ruling preserved a revenue measure the city says was designed to bring in up to €1 million according to the court’s own summary.

Andreas Braun, owner of four arcades in Wiesbaden, filed an objection and constitutional complaint against the tax rate in April last year according to local reporting. He argued that the tax rise had provided a ‘strangling’ effect to business and that it consumed operator profits.

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There’s also a financial constraint, with Ahlberg noting that GiG has used its available cash and is raising additional capital to fund the 888Africa transaction, meaning he doesn’t expect the company to pursue further B2C acquisitions in the short term.

Robinson takes a more expansive view, however, arguing that the acquisition could mark the beginning of a broader shift in GiG’s strategy. “I’d read it as the start of something, not a one-off,” he says. “GiG’s survival as an independent business depends on consolidating in emerging markets where it can own the P&L, not just supply the technology.

“It’s worth remembering this isn’t foreign ground. GiG ran Rizk, Guts, Kaboo and Thrills until it sold them to Betsson in 2020 to pay down a bond. A previous regime decided B2C and B2B didn’t mix. The current one clearly thinks otherwise.”