Miami Mayhem

What is Miami Mayhem?

Sun International vowed to retain and redeploy employees to other areas of the business where feasible.

During H1, Sun International also implemented its new “Casino Lite” model, aimed at improving profitability at smaller, underperforming properties.

The model focuses on enhancing adjusted EBITDA and operating margins by optimising operations, both in terms of gaming and hospitality.

About Miami Mayhem

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.”

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.

How to play Miami Mayhem

The first is the ongoing cannibalization of in-person gaming by online casinos. The Mid-Atlantic is home to four of the country’s eight legal iGaming states: Delaware, New Jersey, Pennsylvania, and West Virginia.

While in-person casino revenue declined in Delaware, New Jersey, and Pennsylvania, iGaming reported GGR growth in each jurisdiction. iGaming revenue in New Jersey was up 4.4%, Pennsylvania’s online casinos saw GGR climb almost 6%, and Delaware iGaming surged 35%.

Though Maryland, Virginia, and New York do not have iGaming, prediction markets offering trading on everything from sports to politics continue to make their platforms accessible. Controversial sweepstakes casinos additionally continue to operate in Virginia and Maryland.