However, 888 and Caesars agreed to reduce the purchase price to acquire the assets by £250m, with the cash portion of the deal now set at £584.9m instead of £834.9m. Originally, the purchase price for the deal was £2.2bn. This came soon after US operator Caesars acquired the entire William Hill business for approximately £2.90bn, with the intent to dispose of all but its US assets. The sale comes after 888 last week completed its acquisition of William Hill’s non-US assets from Caesars for £1.95bn.Ĩ88 had initially agreed in September 2021 to acquire the non-US business of William Hill. “We see further expansion opportunities in both the B2C and B2B segments, and are very excited about working with the management team to deliver on our plans for the future, as we look to become the pre-eminent online bingo business globally.” By combining these with our existing business and brands, which include ‘Butlers Bingo’, we will be able to achieve an even stronger global footprint in key regulated bingo markets. This plan is written to identify the profit/loss. “The successful completion of this strategic transaction enables 888 to further increase its focus on integration with William Hill and delivering on our mission to be one of the world’s leading online betting and gaming businesses.”īroadway Gaming chief executive David Butler added: “We are delighted to complete the acquisition of 888’s high quality bingo business and platform. Prepared for White Bear Lake Area Hockey Association by MN Gaming Services. “As part of a dedicated bingo operator, I am very confident in the future prospects of the bingo business and wish the team well. “I would like to express my immense gratitude for all of the hard work of the bingo team over the years, and in particular their unwavering commitment to the business since we announced the transaction,” 888 chief executive Itai Pazner said. Primarily based in the UK, the bingo business generated approximately $25m in gaming revenue in the first half of 2022, as well as $54m in the past 12 months.Ĩ88 said the sale of the business will enable it to improve focus on delivering against its wider strategy by building leading positions in regulated markets, “driven by proprietary technology, product leadership, leading brands, and marketing expertise”.
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