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Both routes require significant investment. However, as Curwen, adds: “There are plenty of people in this industry with great ideas, brands, audiences or distribution who don’t want to build an entire slot studio from scratch.”

Studio in a Box is designed to provide another option. Yggdrasil handles the technology, infrastructure and support, leaving its partners to concentrate on the brand, creative ideas and commercial direction of their games.

The result, according to Curwen, is “democratising game creation”.

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Cirsa shareholders will receive 0.668 newly issued Lottomatica shares for each of their shares in Cirsa.

Meanwhile Blackstone, Cirsa’s largest shareholder, is expected to become the largest shareholder of the combined company, maintaining around 24% of the share capital.

The deal is expected to provide around €115 million of pre-tax cash synergies per year from opex and interest cost savings. These synergies are expected to be realised by the third full year following completion.

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Alongside gaming, hospitality revenue rose 2.8% to R1.29 billion despite an impact of around R20 million from war-related cancellations.

Sun International highlighted a strong start to its H2, with revenue growth as of 31 August ahead of the company’s guidance range of 6% to 8%.

But in recently months the company has invested heavily, with capex surging from R277 million to R492 million.