888 Holdings acquires BetBright for £15 million

Online gaming conglomerate 888 Holdings has recently acquired the Irish firm BetBright for £15 million. As a half of the acquisition, a spokesperson for 888 mentioned the deal will assist to “bolster” its know-how and product capabilities in addition to go some way to supporting improvement for the firm’s sports betting arm.

BetBright’s major workplace, located in Dublin, shall be built-in into 888’s setup. The deal supplies with whole ownership over all BetBright merchandise across its reside casino, poker, bingo and sportsbook options.

Fan Favourite

BetBright was founded in 2012, and shortly established itself as a unique and attention-grabbing purveyor of online slots video games. With an intuitive, user-friendly web site, the company soon discovered itself attracting the attention of European online casino fans.

Itai Pazner, the CEO of 888, described the acquisition as “high-quality” and an “exciting milestone” in the historical past of 888. He went on to explain the technology held by BetBright to be the “missing piece” in the 888 portfolio, which will allow the firm to provide its very own end-to-end options throughout the four most popular online gambling choices among shoppers.

Exponential Growth

888 has turn into an increasingly established name with gamblers worldwide, and the BetBright deal represents the third acquisition made by the group over the past few months. In December 2018, 888 took full management of the All-American Poker Network. In February, the agency agreed to an £18 million deal which would internet them a number of online bingo manufacturers from JPJ group.

However, somewhat than proceed to run BetBright as an individual concern, it seems the technology used by the company will merely be amalgamated beneath the 888 umbrella, ensuing in the closure of BetBright.

While 888’s shares ended up trading down by 3.3p by the end of play Monday, market analysts predict the decision to buy BetBright is a well-thought-out, long-term strategic move.

On Monday, 888 introduced that users with any unsettled bets on the BetBright platform shall be refunded. Users with unsettled multiple bets presently in operation could have the present profitable sections settled, with unsettled legs of the a number of being voided. A spokesperson for the corporate suggested this was the “fairest way” of winding down operations.