The digital gaming firm, 888, has finalized the sale of its bingo operations to Broadway Gaming for a sum of $45.2 million. A significant portion of the payment has been received, and 888 will provide ongoing support to Broadway during the transition period over the next twelve months.
Itai Pazner, the Chief Executive Officer of 888, expressed gratitude to the bingo team and highlighted that this divestiture will enable 888 to prioritize its integration with William Hill. 888 aims to establish itself as a prominent player in the global online betting and gaming industry.
Headquartered in the United Kingdom, the bingo division generated approximately $54 million in annual revenue last year. David Butler, the CEO of Broadway, expressed enthusiasm about the acquisition, viewing it as a valuable asset to their organization.
This agreement provides us with a significantly more robust presence in the international internet bingo sector, particularly with well-known names like ‘Butlers Bingo’ already under our umbrella.”
“We perceive substantial opportunities for expansion, both directly engaging with customers and through collaborations with other enterprises. We are enthusiastic about partnering with the team and transforming this into the largest and most exceptional online bingo enterprise globally.”
This declaration comes on the heels of the designation of three new board representatives at 888, subsequent to their purchase of William Hill’s non-US holdings in July 2022.
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