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How to play Hard Rock Blackjack & Casino
In its currently ongoing takeover of Evoke Bally’s Intralot will retain the remaining 20% of 888Africa and will stay active in management.
Ahlberg agrees the €16.4 million valuation is attractive, with a deferred consideration of around €10.4 million that reduces the immediate cash burden.
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.
About Hard Rock Blackjack & Casino
“Because you’re a small business, you need to pick your battles,” Wilson says. “I can’t go and get 10 licences this year. It’s just unrealistic. It would require so much work that it would distract us. Now we have that ability through our relationship with RubyPlay, and we are grabbing that opportunity with both hands.”
There is also a natural product opportunity. Splash Tech has traditionally been weighted towards sports within free-to-play, while RubyPlay brings a substantial casino ecosystem. For Wilson, the agreement creates a chance for Splash Tech to bring its distinctive engagement thinking into the RubyPlay world, planting a seed for future products that combine Splash Tech’s free-to-play and jackpot expertise with RubyPlay’s content ecosystem, market knowledge and distribution reach.
For RubyPlay, Splash Tech supplies a way to move beyond games and towards a broader content-and-engagement proposition. For Splash Tech, RubyPlay supplies the reach to take already proven products further. And for operators, the value is practical: a flexible engagement layer that can sit across casino, sportsbook and third-party content, reduce operational complexity and create more reasons for players to keep coming back.
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Frank Fantini, founder and publisher emeritus of Eilers-Fantini, thinks the change began before Covid. “There is a tendency to look at the world as pre-Covid and post-Covid,” he says. “But the decline in gaming began earlier than that with the slowdown in new jurisdictions and new projects.”
The US land-based casino market had begun to mature and the number of obvious new markets and projects was shrinking. Online gambling offered a new source of growth, particularly through the expansion of legal sports betting. That opportunity was quickly reflected in share prices.
The problem is that legalisation has not happened as quickly as expected, while taxes and competition have increased. “Online gaming has been affected by the broader re-rating of growth-oriented internet and software stocks,” says Chad Beynon, managing director and head of US research at Macquarie Capital. “But there has also been a genuine deterioration in expectations for parts of the sector.”
