888 Acquires BetBrightJake Cooper | 07 Mar 2019
A new era has dawned, and its sports betting’s turn to have its time in the sun. In order to strengthen its own product offering, 888 Holdings has acquired BetBright’s sports betting platform for a cool £15 million. The company has said that the acquisition forms part of its global expansion and long-term development strategy and that the decision to take ownership of BetBright is one that has been in the making for quite some time now.
888 describe the acquisition of scalable sportsbook tech as one of the main inroads in order to achieve a prominent market presence in the world of wagering and beyond. The group has been very focused on expansion, and the new acquisition follows a prior purchase involving the take-over of Jet’s digital Bingo brands.
Taking The Lead
According to 888’s CEO Itai Pazner, in terms of entering the market at full force capacity, there really is no time like the present. Pazner said that 888’s board of directors has every confidence in the acquisition process, and considers the purchase of BetBright’s sports betting platform to be a major leap forward.
Pazner was full of praise for the team, and the CEO said that the rest of 888 Holdings was very much looking forward to welcome the team as part of the 888 family. The chief in charge complemented the team on everything that they had achieved up until this point in time and said that there was no doubt in his mind that the BetBright team will bring significant expertise to the party and would soon strengthen 888’s entire sports offering.
Pazner On Being A Trusted Steward
The strengthening of 888’s Bingo arm via the acquisition of the Jet digital Bingo offering set the company back a significant £18 million. According to the company, purchasing the Mandalay portfolio was money well spent. The portfolio consists of a number of top Bingo brands, including City Bingo, Costa Bingo, and Sing Bingo. The entire collective product will now be switched over so that it will function as a B2C offering.
Pazner only recently took management control of 888 Holdings, and said that taking greater ownership of the company’s offerings and platforms was a top priority. Previous CEO Itai Frieberger is no longer with the group.