The sports gambling platform of BetBright has been obtained by 888 Holdings for a sum of pound;15 million. The acquisition will help strengthen the item and technology capabilities of 888, supporting the 888Sport long-term plan for growth. Included in this acquisition, the Dublin office of BetBright is going to be integrated into 888.
The Transaction:
With the trade, 888 Holdings will be acquiring sportsbook technologies from BetBright that’s deemed high quality and scalable. Additionally, the deal will see 888 have access to associated risk management, trading and product capabilities that are going to be utilized for their sport brand.
Since the two entities have been integrated, 888 will fully have the product and technology development within four online betting verticals.
The 888 Holdings Board believes that the trade ill help to enhance the long-term prospects within the worldwide market of sports betting, allowing the organization to fully leverage their skills through marketing and analytics.
At a press launch …
It provides the Group the missing piece in our proprietary product and technology portfolio and will enable 888 to own proprietary, finishing solutions across the four leading online gambling verticals.
With 888Sport getting an increasingly recognized and popular global sports betting destination, we believe it’s the perfect time to take possession of our full sports betting suggestion. We are convinced that this acquisition will increase the Group’s long-term prospects and differentiation in the expanding global sports betting market.
The BetBright sportsbook was developed with a fantastic team and is a top quality and scalable platform. Our new colleagues joining from BetBright will substantially strengthen 888’s sports betting expertise and industry know-how, and we’re delighted to welcome them to the Group.
This is the third acquisition that the Group has made in recent months and shows the Group’s commitment to its strategy: to be a worldwide leader in the online gaming market by driving organic growth across regulated markets, supported by value-accretive M&A.
Continued Growth:
888 Holdings continues to see growth through several acquisitions, in addition to the recent announcement of this BetBright transaction. In December of last year, 888 Holdings announced an arrangement where they would invest $28 million to get the remaining stake of their All American Poker Network. The remaining stake was 53%.
The all-cash trade for the poker network was completed by their 888 US Incorporated subsidiary and must be complete at the end of the month.
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