888 Holdings has divested its bingo operations to Broadway Gaming in a transaction valued at $45.2 million. Under the terms of the agreement, Broadway Gaming will assume control of both the consumer-facing and business-to-business segments of 888’s bingo enterprise.

The bulk of the purchase price has already been remitted, with the outstanding $2 million payable within the coming year. 888 Holdings has also committed to furnishing Broadway Gaming with specific services over the next twelve months to ensure a seamless transition.

Itai Pazner, CEO of 888 Holdings, conveyed his gratitude to the bingo team for their commitment and diligence, expressing confidence in the business’s prospects under Broadway’s stewardship. Pazner emphasized that this divestiture will enable 888 Holdings to prioritize the integration of William Hill, a prominent gaming entity acquired the previous year, and bolster its standing as a global iGaming frontrunner.

David Butler, CEO of Broadway Gaming, articulated his enthusiasm for the acquisition, underscoring the caliber of 888’s bingo platform and its robust performance. The UK-based bingo operation generated $25 million in revenue during the initial six months of 2022, and approximately $54 million throughout the preceding year.

This purchase provides us with a significant advantage in the worldwide bingo industry. Consider this: we are joining forces with some already prominent brands, such as ‘Butlers Bingo,’ and establishing ourselves as a key contender.”

“This is not simply about expanding; it’s about strategic expansion. We recognize enormous possibilities in both the consumer-facing and business-to-business aspects of the industry. We are eager to collaborate with the new group and make this the largest and greatest online bingo platform available.”

This action occurred in July 2022 when 888 finalized its acquisition of William Hill’s non-US holdings and appointed three new individuals to the board of directors.