The gaming company, 888 Holdings, has decided to divest its bingo operations, encompassing both its direct-to-consumer and business-to-business segments, to Broadway Gaming. The transaction, valued at $50 million, is anticipated to conclude by the middle of the following year. Renowned for its online casino, sports wagering, and poker offerings, 888 aims to optimize its business structure and concentrate on its primary areas of expertise. This divestiture enables them to intensify their focus on these core domains and pursue expanded growth within those markets. Broadway Gaming, already a prominent entity in the online bingo realm with its flagship brand “Butlers Bingo,” perceives this acquisition as an opportunity to strengthen its market presence and emerge as a genuinely global powerhouse in the online bingo sector.
In the ninth month of 2021, 888 Holdings strengthened its presence in the internet gaming sector by purchasing William Hill’s non-American holdings from Caesars Entertainment. This calculated maneuver added a substantial two million active customers within the United Kingdom and an extensive system of 1,400 wagering establishments. It’s noteworthy that in 2020, William Hill’s bingo activities alone generated roughly $65 million in earnings and a robust $7.4 million in EBITDA, demonstrating the possible financial gains of this acquisition for 888.