888 to sell its bingo businesses
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888 has reached an agreement to sell its B2C and B 2B bingo businesses to Saphalata Holdings. The consideration is $50m on a cash-free debt- free basis. There is a potential earn-out of up to $4m based on achievement over six months of revenue-based performance criteria. 888 will provide Broadway with transitional services for a period of 12 months.
888 has reached an agreement to sell its B2C and B 2B bingo businesses to Saphalata Holdings. The consideration is $50m on a cash-free debt- free basis. Broadway Gaming will provide transitional services for a period of up to 12 months. The bingos business is delivered through a combination of B-2-B services under the Dragonfish brand and multiple leading B&C brands. It is operated on separate technology platform and served by a designated operations team. 888 has a clear strategy to be a global leader in online betting and gaming.
