The bingo business, which is substantially UK-based, generated gaming revenue of approximately $25 million in H1 2022, and approximately $54 million in the last twelve months. " 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," Butler concluded. 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." "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," he added.ĭavid Butler, CEO of Broadway Gaming, adde d: "We are delighted to complete the acquisition of 888's high-quality bingo business and platform. As part of a dedicated bingo operator, I am very confident in the future prospects of the bingo business and wish the team well." Itai Pazner, CEO of 888, commented: "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. In a press release, the company explained that the completion of the transaction will " enable us to improve focus on delivering against our strategy to be a global leader in online betting and gaming, by building market-leading positions in attractive regulated markets, driven by proprietary technology, product leadership, leading brands, and marketing expertise." 888 has agreed to continue to provide Broadway with certain transitional services for a period of up to 12 months from completion, in accordance with an agreed fee schedule. The total cash consideration of $45.25 million is $43.25 million payable on completion, and a further $2 million unconditionally payable in one year. Online betting and gaming company 888 Holdings announced Thursday that it has completed a previously announced sale of its entire B2C and B2B bingo businesses to Broadway Gaming Group’s Saphalata Holdings.
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