888 completed a deal with Saphalata Holdings (a Broadway Gaming Ltd subsidiary) for its B2C and B2B bingo business. The agreement is worth $45.3million, and another $ 2 million will exchange hands in 12 months.
Outlook on the bingo industry
888 bingo operations are mainly based in the UK, where the company extracted over $25million in total gaming revenue in the first six months of 2022. Commenting on what lies ahead for the bingo vertical, Itai Pazner, the 888 Chief Executive, expressed confidence in the business, even more now that it is part of a dedicated bingo operator.
Pazner also went on to say,
“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.”
The Chief at Broadway Gaming, David Butler, also expressed optimism, saying;
“We are delighted to complete the acquisition of 888’s high-quality bingo business and platform. 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.
“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.”
More about 888
888 is a trusted online gaming platform offering casino gaming, sports betting, and online poker. Players visiting 888 casino can look forward to exciting casino games, generous bonuses, and other regular offers.
The recent disposal of the 888 bingo side of the business might be misconstrued as a loss. But since 888 casino can now focus more on what they know best, players can only stand to benefit.