888 Buys Betbright for £15 Million

888 Holdings PLC, one of the world’s most popular online gaming operators and platform providers, signed an acquisition deal with Irish sports betting operator, Betbright.

Known simply as 888.com, this public company from Gibraltar owns several popular gambling brands and websites like 888poker and 888casino. Now, 888 has agreed to purchase Betbright for £15 million, together with the operator’s proprietary platform.

According to the deal, the purchase of Betbright, a digital entertainment, and online sports betting company based in Dublin and operating in the UK and Republic of Ireland…

…includes purchase of the assets of Dedsert Limited, Dedsert Ireland Limited and its s.

Huge Plans for the Future

By acquiring Betbright’s sportsbook, 888 will gain the total ownership over Betbright’s technology and product development through the casino, sports betting, poker and bingo.

But, 888 will not gain only that. This online gambling operator will strengthen the company’s prospects in the global sports betting market through this acquisition…

…by leveraging marketing and analytics capabilities.

Although 888 hasn’t yet announced the exact date when the deal will become completed, the company officials said that they plan to start the process of the integration of Betbright’s technology as soon as possible.

A Word from the CEO

After completing this deal, 888 will begin promoting Betbright’s platform.

“This acquisition of a high-quality and scalable sportsbook is an exciting milestone for 888; it gives the group the missing piece in our proprietary product and technology portfolio and will enable 888 to own proprietary, end-to-end solutions across the four major online gaming verticals,” CEO of 888 Holdings, Itai Pazner, said in an official statement.

“With 888Sport becoming an increasingly established and popular worldwide sports betting destination, we believe it is the right time to take ownership of our full sports betting proposition. We are confident that this acquisition will increase the Group’s long-term prospects and differentiation in the growing global sports betting market,” Pazner added.

888’s New Acquisitions

At the very end of February this year, the company has also gone through more ventures by buying JPJ’s Mandalay-operating assets…

…Costa Bingo, City Bingo, and Sing Bingo Franchise for £18 million. Through this deal, 888 will acquire top bingo brand from Jet Management Group and Jet Media.

“The group continues to deliver its stated strategy of expanding across global regulated markets. This expansion is underpinned by organic growth initiatives ed by exploring value-enhancing M&A.

Having been developed on Dragonfish, the Group’s first-class B2B platform, we are confident that consolidating these brands into our existing B2C portfolio will deliver synergies and growth opportunities by applying the full extent of 888’s core capabilities in product, marketing and customer relationship management to their operations,” Pazner, commented.

Also, back in December, 888 made a deal with All American Poker Network (AAPN) and purchased the remaining 53% of the company, so that now it is fully under its control.

“This is the third acquisition that the group has made in recent months and demonstrates the group’s commitment to its strategy: to be a global leader in the online gaming market by driving organic growth across regulated markets, ed by value-accretive M&A,” Pazner added.

Source:

“888 agrees £15m BetBright acquisition”, igamingbusiness.com, March 4, 2019.