888 Divests Bingo Division to Broadway Gaming for $45.2 Million

The international gaming and entertainment powerhouse, 888, has concluded the divestiture of its bingo division to Broadway Gaming, a transaction that enables 888 to hone its concentration on its primary offerings and prospective expansion avenues. The agreement, appraised at $45.2 million, demonstrates 888’s calculated strategy to refine its holdings subsequent to its purchase of William Hill. The bulk of the amount was remitted upon finalization, with the outstanding $2 million to be delivered within the coming year.

This divestiture empowers Broadway Gaming, already a significant presence in the digital bingo realm, to further bolster its standing. David Butler, Broadway’s Chief Executive Officer, conveyed his excitement regarding the acquisition, emphasizing the quality of 888’s bingo platform and personnel. Concurrently, 888 Chief Executive Officer, Itai Pazner, acknowledged the bingo team for their commitment and expressed assurance in their continued achievements under Broadway’s guidance.

This purchase significantly strengthens our standing in the worldwide internet bingo sector. We are well-positioned for substantial expansion by merging these new ventures with established brands such as ‘Butler’s Bingo.'”

“We perceive considerable promise in both the customer and corporate segments of this industry. Our staff is eager to collaborate with the skilled individuals at William Hill to realize our ambition of becoming the world’s leading online bingo provider.”

This action comes after 888’s July 2022 selection of three new board directors, which is part of the company’s broader plan following its acquisition of William Hill’s non-US holdings.