The gaming company, 888 Holdings, has divested its bingo operations to Broadway Gaming in a transaction valued at $45.2 million. A majority of the payment has been received, with 888 agreeing to furnish certain services for the upcoming year.
888’s Chief Executive expressed gratitude to the bingo division and stated that this agreement allows 888 to concentrate on its broader objectives, particularly following the acquisition of William Hill. Broadway is enthusiastic about acquiring such a prosperous bingo enterprise, which generated approximately $54 million in annual revenue.
This purchase provides us with a significantly enhanced worldwide footprint in the internet bingo sector, particularly with a renowned brand like ‘Butler’s Bingo’ already in our portfolio.”
“We perceive substantial expansion opportunities in both the customer and corporate segments of online bingo, and we are eager to collaborate with the executive team to establish ourselves as the world’s leading online bingo enterprise.”
Subsequent to its procurement of William Hill’s non-US holdings in July 2022, 888 has designated three fresh individuals to its directorial board.
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