Sinbad

How to play Sinbad

GiG’s immediate priority following the completion of the deal will be disciplined integration, says Richards. This includes bringing 888Africa’s financial reporting, compliance and operational processes in line with GiG’s standards.

Ahlberg suggests GiG will look to transition 888Africa onto GiG’s platform, providing synergies down the line. Richards says GiG will look at where the company’s platform and tech can add value to the existing 888Africa business, although in terms of expansion, he again reaffirms that it will be a cautious approach in the short term.

“We are deliberately not pursuing an aggressive expansion agenda in the early months,” he explains. “We want to prioritise integration and consolidating our existing positions first, and only look at new market entry once we are confident the operational foundations are in place.”

What is Sinbad?

Arbitrators found against the companies and ordered them to pay millions of dollars toward Laos’ legal costs and expenses.

One tribunal found in 2019 that Lao Holdings had acted in bad faith and ordered it to pay Laos $1.95 million. Another made a similar finding against Sanum and awarded the government $1.78 million.

A third arbitration produced another award worth nearly $1.3 million, taking the amount Laos is seeking to more than $5 million.

How to play Sinbad

The Yahoo Finance prediction market section was taken out in April. The companies have now confirmed that the larger deal is also off, as reported by Bloomberg. 

Yahoo said Polymarket is still an advertising partner and suggested the two could collaborate on other projects in the future. Polymarket has not provided any public explanation for the end of the data partnership. 

The news comes as prediction market operators continue to form alliances with major media outlets. These deals allow news outlets to embed event contract data into their reporting and offer prediction platforms more visibility to investors and news audiences.