F888 Holdings Plc announced its acquisition of BetBright, an online sports betting platform for £15 million. 888 purchased the sports betting website to improve its product and technology competencies. Additionally, the new addition will support 888’s longstanding development strategy for its bookmaking business. This is the third purchase deal that 888 has announced in recent months. The company bought a portfolio of online bingo operations previously owned by JPJ Group for £18 million in February 2019. Late last year, they also took full control over All American Poker Networks, as they bought the remaining 53% in the unit from its joint project partners.
More about BetBright
BetBright, which is based in Dublin, advances and operates its own branded online sports gambling and casino platforms. The company’s office will be merged into 888. Acquisition of the sports betting platform provider and operative also comes as 888 is observing to glue its 888Sport brand across manifold regulated in the jurisdiction. Added to this, the web gambling giant is interested in growing its presence across the US. After the Supreme Court struck down an established federal ban on sports betting.
Presently, 888’s sports betting product is available in Delaware, Nevada and New Jersey. The online gambling group signed a sponsorship deal with NFL franchise New York Jets last September. Thanks to that partnership, 888 has managed to secure brand exposure at MetLife Stadium in NJ where the team plays its home matches. More so, this sports betting platform would be a big boost to 888’s bid. They intend to expand across the United States as more states are considering the legalization of sports betting within their borders.
Mr. Pazner said that 888 still remains committed to its policy to be a “worldwide leader in the online bookmaking market by driving organic development across all regulated markets, reinforced by value-accretive M&A.”
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