The gaming company 888 Holdings has decided to divest its bingo operations to Saphalata Holdings, a subsidiary of the Broadway Gaming Group, in a transaction valued at $50 million. Anticipated to finalize in the second quarter of the following year, this sale will enable 888 to concentrate on its primary offerings, including casino games, sports wagering, and poker. Itai Pazner, CEO of 888, expressed confidence that this strategic move will solidify their position as a frontrunner in the online betting and gaming industry. David Butler, CEO of Broadway Gaming, shared his enthusiasm for integrating 888’s bingo platform into their existing portfolio, which already features “Butlers Bingo,” as a means to broaden their international presence within the online bingo sector.
In the ninth month of 2021, 888 Holdings broadened its scope by purchasing William Hill’s international holdings from Caesars Entertainment. This calculated action brought 2 million engaged UK patrons and a system of 1,400 wagering locations into the 888 fold.
Interestingly, in 2020, their chance game activities produced roughly $65 million in earnings and a robust $74 million in EBITDA, demonstrating its financial success.
