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888 Acquires Sports Betting Platform BetBright, for £15M

edit:casino time:2019-03-09

888 Holdings Public Limited Company, an online gaming entertainment and solutions provider, acquired BetBright, a Dublin, Ireland-based sports betting platform, for £15M.

Acquiring BetBright’s sportsbook technology alongside associated risk management, product and trading capabilities, 888 aims to strengthen its product and technology capabilities and support the longterm development strategy for 888Sport to become one of the best betting sites.
As part of the deal, BetBright’s Dublin office will be integrated into 888’s Group.

The integration of BetBright’s sportsbook into the group will give 888 complete ownership over its technology and product development across four key online betting verticals (Casino, Sport, Poker and Bingo).

Founded in 1997, 888 Holdings one of the world’s most popular online gaming entertainment and solutions providers. The Group is structured into two lines of business: B2C, under the 888 brands, which offer consumer facing websites, and B2B, conducted through Dragonfish, which provides partners a platform through which to establish an online gaming presence and monetize their own brands.

This is the third acquisition that the group has made in recent months demonstrating the Group’s commitment to become a global leader in the online gaming market by driving organic growth across regulated markets, supported by value-accretive M&A.

In February, 888 acquired Costa Bingo, for £18m, with the aim to strengthen its position in the UK online bingo market. With this operation, the company has acquired a portfolio of online bingo brands, which previously operated as business-to-business (‘B2B’) brands on
888’s Dragonfish Bingo Platform. Going forward, 888 will operate these on a business-to-customer (“B2C”) basis.

Previously, in December 2018, it acquired the remaining 53% interest in the All American Poker Network, a joint venture established in 2013, for US $28m.
In September, 2018, the company had launched 888sport in New Jersey alongside its established poker and casino brands, paving the way to launch 888sport in additional US states as future regulation allows. It had also signed a sponsorship agreement with the New York Jets of the National Football League
(NFL). In the USA, now, the company operates in three states, namely Nevada, Delaware and New Jersey.

As part of the same growth plan, 888 is also expanding its brands in several European countries including Portugal (casino), Sweden (gambling), Italy (Poker).

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