Fortune Pig

What is Fortune Pig?

To fund the acquisition, the company intends to raise €2.5 million through a directed share issue and €6 million through convertible debt. The deal marks its return to B2C after becoming a pure play B2B platform play in 2023.

Richards tells iGB the deal is expected to be completed around the end of September and provides GiG with a “profitable, cash-generative B2C operator” and a footprint in some of Africa’s fastest-growing regulated markets.

Additionally, it gives GiG a “strategic bridgehead” for its core B2B business, the CFO says.

How to play Fortune Pig

Lawmakers and regulators in Cyrpus have been debating methods to prevent recipients of the Guaranteed Minimum Income (GMI) from using state welfare payments for gambling. 

The GMI, know locally as EEE, is described as a “residual payment to guarantee and legal minimum income for all residents”.

Anyone residing in Cyprus, with income not high enough to support their basic needs, is eligible for the benefit.

About Fortune Pig

When asked his view on what will happen next, Weizer declined to comment, saying: “It’s very interesting. But as I’m sure you can understand, we are not going to answer any questions on litigation.

“We are under legal privilege and confidentiality rules, and we can’t simply take questions on the legal situation. We said what we needed to say following the Spectrum report being released earlier this week. So, that’s all I can say at this point in time.

“I have a lot to say, but I can’t.”