Jungle King

What is Jungle King?

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.

“On the numbers GiG has disclosed it looks cheap,” he says. “€16.4 million for 80% implies an EV of €20.5 million against roughly $50 million of run-rate NGR, 30% year-on-year growth and positive cash generation. €6m of cash on day one for a business generating $50 million of NGR tells you who needed the deal.”

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Thanks to the “rapid growth of crypto currencies” and globally recognisable branding through marketing and sponsorships, this handful of operators are generating the majority of illegal gambling traffic across Europe.

The report also cites brands targeting a specifically banned vertical or product within a jurisdiction as driving black market activity. While markets across Europe have many examples, one such flagged in the report is that iGaming remains illegal for licensed operators in France.

“The largest black market operators have scaled to create recognisable brands with traffic that can compare to domestically licensed operators,” the report’s authors wrote. “The top group of sites by common owner has a 12% share of traffic, while the largest single brand has 10%.”

How to play Jungle King

Nolimit City has released Duck Hunters 2. The sequel pushes its take on the position-multiplier format further than the original while keeping the underlying math model intact. The story here is less about a new theme than about a studio doubling down on a mechanic that has spread rapidly across the online slots market since 2022.

Nolimit City has expanded its Duck Hunters slot franchise with the release of Duck Hunters 2, a follow-up to the original title that builds on the position multiplier mechanics that have become increasingly common across the online slot market in recent years. The new online slot retains the core multiplier-based format of its predecessor while increasing the maximum multiplier available on a single position and introducing additional bonus upgrades, feature-buy options and side-bet mechanics.

The commercial hook is scale. According to the developer, the sequel aims to deliver a more volatile experience, supported by a top payout of 40,000 times the stake. That figure sits above the original. It signals a deliberate move toward the higher end of Nolimit City’s already extreme-volatility catalog.