7th Jul 2022 13:37
888 Holdings PLC - Gibraltar-based online betting and gaming company - Completes the sale of its bingo business to Dublin-Saphalata Holdings Ltd, a member of the Malta-based Broadway Gaming Group, for GBP37.4 million. "888 has agreed to continue to provide Broadway certain transitional services for a period of up to 12 months from completion, in accordance with an agreed fee schedule," 888 adds. The bingo business reported a gaming revenue of around GBP19 million in the first half of 2022 and about GBP41 million in the last twelve months, 888 says.
In December, the firm said it was selling its bingo business to focus on its core platform of online betting and gaming. "The completion of the transaction will enable us to improve focus on delivering against our strategy to be a global leader in online betting and gaming, by building market-leading positions in attractive regulated markets, driven by proprietary technology, product leadership, leading brands, and marketing expertise," company says on Thursday.
Current stock price: 157.10 pence, down 6.2% in London on Thursday
12-month change: down 59%
By Tom Budszus; [email protected]
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