{"id":128,"date":"2024-06-15T04:30:24","date_gmt":"2024-06-15T01:30:24","guid":{"rendered":"https:\/\/luckylegendsnodepositbonuscodes2024.icu\/2024\/06\/15\/888-completes-sale-of-bingo-division-to-broadway-gaming\/"},"modified":"2024-06-17T13:24:09","modified_gmt":"2024-06-17T10:24:09","slug":"888-completes-sale-of-bingo-division-to-broadway-gaming","status":"publish","type":"post","link":"https:\/\/luckylegendsnodepositbonuscodes2024.icu\/2024\/06\/15\/888-completes-sale-of-bingo-division-to-broadway-gaming\/","title":{"rendered":"888 Completes Sale of Bingo Division to Broadway Gaming"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/e8G-IRrT4GI\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The gaming behemoth, 888, has concluded the divestiture of its bingo division to Broadway Gaming, a transaction that grants Broadway control of both the consumer-facing and business-to-business aspects of the enterprise.  The agreement, valued at a substantial $45.2 million, involved the immediate transfer of the majority of the funds, with a remaining $2 million to be paid out over the subsequent year.  However, 888 will maintain a presence for an additional 12 months to facilitate a seamless handover.<\/p>\n<p>888&#8217;s Chief Executive Officer, Itai Pazner, conveyed his gratitude to the bingo team for their dedication, especially during the period of uncertainty following the announcement of the sale. He articulated his belief in the promising prospects of the bingo business under Broadway&#8217;s stewardship. This strategic maneuver enables 888 to concentrate its efforts and assets on assimilating William Hill, a significant acquisition crucial to their goal of attaining global prominence in the online wagering and gaming sector.<\/p>\n<p>The UK-based bingo operation generated $25 million in the initial six months of 2022, with projected annual revenue of roughly $54 million.  Broadway Gaming&#8217;s CEO, David Butler, expressed his enthusiasm regarding the purchase, emphasizing the worth and possibilities inherent in 888&#8217;s bingo platform and its loyal user base. <\/p>\n<p>This action permits us to utilize current resources such as &#8216;Butler&#8217;s Bingo&#8217; to secure a larger portion of the regulated bingo market internationally.&#8221;<\/p>\n<p>&#8220;We perceive substantial expansion opportunities with both frequent participants and companies. The leadership team is exceptional, and we are unified in our objective: to become the preeminent force in the global online bingo arena.&#8221;<\/p>\n<p>In July of 2022, 888 bolstered their board by adding three new members who recently joined from the William Hill acquisition (specifically, their operations outside of the US). <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The gaming behemoth, 888, has concluded the divestiture of its bingo division to Broadway Gaming, a transaction that grants Broadway control of both the consumer-facing and business-to-business aspects of the enterprise. The agreement, valued at a substantial $45.2 million, involved the immediate transfer of the majority of the funds, with a remaining $2 million to [&hellip;]<\/p>\n","protected":false},"author":98,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>888 Sells Bingo Division for $45.2 Million - What<\/title>\n<meta name=\"description\" content=\"Gaming giant 888 has sold its bingo division to Broadway Gaming in a deal worth $45.2 million. What does this mean for the future of both companies? 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