888 Holdings

growth-positive

The article discusses the growth potential of three UK companies with high insider ownership: 888 Holdings, IWG, and J D Wetherspoon. 888 Holdings, an online betting and gaming company, is expected to become profitable within the next three years, with earnings projected to grow substantially. IWG, a workspace solutions provider, is expected to reverse its fortunes, forecasting profitability within three years and revenue growth at 8% annually. J D Wetherspoon, a chain of pubs and hotels, has shown resilience with a 3.3% quarterly sales increase and an 8.3% year-to-date rise in like-for-like sales as of April 2024.

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The number of high street bookmakers in Britain has plunged by around 30% in the last five years, with almost 2,400 shutting their doors for good. Major brands including William Hill and Ladbrokes closed hundreds of sites during the pandemic. The decline is attributed to tighter regulations, soaring costs since the pandemic, a struggle to attract younger gamblers to the high street, and a broader shift towards online gambling. Betting shop revenues at William Hill’s owner 888 Holdings fell 7% over the first three months of 2024. The owner of Ladbrokes and Coral, posted a 6% drop in betting shop sales over the same period.

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GB News is planning to cut 40 jobs, representing about 14% of its workforce, in an effort to stem losses which reached £42.2m last year. The companys wage bill increased from £12.7m to £21.2m in 2023 due to hiring high-profile presenters. The company has been struggling with an advertising boycott since its launch in 2021 and has been exploring ways to diversify its revenues. The companys losses have led to increased reliance on billionaire hedge fund investor Sir Paul Marshall and Dubai-based hedge fund Legatum.

Growth-Positive

Gambling company 888 has reported revenues of £431 million for Q1 2024, slightly ahead of its forecasted range of £420 million to £430 million. The company, which also operates the William Hill brand, has been implementing cost-cutting measures and reviewing its US consumer betting business in an effort to return to profitability. Despite a 1% dip in UK revenues and a 7% decline in its retail business, the company expects to return to year-on-year growth from Q2 2024. The company recently unveiled a new strategy which includes a name change to Evoke plc.

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Netflix shares slid 7% after the company issued a mixed trading outlook. This comes as US officials reported Israeli retaliatory strikes on Iran, causing concerns that a worsening conflict in the Middle East could disrupt oil supplies. Brent Crude jumped as much as 3.5% on the back of the news but is now trading 1% higher. Meanwhile, UK retail sales stalled unexpectedly in March and Bitcoin is set to undergo a halving, which could potentially impact the cryptocurrencys price.

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Bet365, the online gambling firm run by Britains best-paid woman, Denise Coates, has agreed to pay a £582,120 settlement after failing to prevent potential money laundering and protect vulnerable customers. The Gambling Commission found that the company did not carry out meaningful checks on high-risk punters. The settlement follows an investigation by the commission in March 2022. Bet365 is also facing a financial crime investigation in Australia. Despite these issues, the company reported a rise in sales to £3.4bn over the year ending March 2023.

Growth-Negative

Bet365, an online gambling firm controlled by Denise Coates, has been fined £582,120 by the Gambling Commission for failing to prevent potential money laundering and protect vulnerable customers. The company did not carry out meaningful checks on high-risk punters and failed to make independent verification checks. This comes as Bet365 faces a financial crime investigation in Australia by the Australian Transaction Reports and Analysis Centre (Austrac). Despite these issues, the company saw a rise in sales to £3.4bn over the year ending March 2023.

Growth-Negative

British betting and gaming firm 888 Holdings plans to sell some assets in its U.S. consumer-facing operations to Hard Rock Digital and expects to exit that business by the fourth quarter of 2024. The company expects the exit to realise a recurring annualised benefit to adjusted core profit of about 25 million pounds from 2025 onwards. The group currently expects to incur net one-off cash costs of about 40 million pounds from the exit. 888 also plans to change its name to evoke plc to reflect its multi-brand model.

growth-positive

Shares in Trump Media and Technology Group (TMTG), the company behind Donald Trump’s Twitter rival Truth Social, rose by more than 50% after its debut on the Nasdaq exchange. The company arrived on the exchange through a merger with a listed cash shell, Digital World Acquisition Corp. This surge in share price values Trump’s majority stake in the company at more than $5.5bn, increasing his estimated net worth to over $8bn. The merger with Digital World was announced in 2021 and was meant to have been completed the following year but was delayed due to regulatory investigations.

Growth-Positive

888 Holdings plans to change its name to Evoke plc, reflecting its multi-brand model. This follows a 41% increase in annual adjusted core profit to £308.3 million ($389.94 million) for the year ending Dec. 31, 2022, after acquiring William Hills non-US assets from Caesars Entertainment for £2 billion in 2022. The name change is part of CEO Per Widerströms new strategy to focus on core markets, automation, artificial intelligence, and cost savings. The company expects Q1 2024 revenue to be between £420 million and £430 million. The name change is subject to shareholder approval at the 2024 annual general meeting.

growth-negative

British bookmaker 888 Holdings has ended its partnership with Sports Illustrated and is considering selling or exiting its direct-to-consumer operations in the US due to fierce competition and low profit margins. The termination of the agreement with SI-parent Authentic Brands will cost 888 around $25 million, but is expected to save the company about $6 million to $7 million annually in 2024 and 2025. The US sports betting market has grown significantly since its legalization in 2018, but profitability has been a challenge for many companies in the sector.

growth-negative

British bookmaker 888 Holdings has ended its partnership with Sports Illustrated and is considering selling or exiting its direct-to-consumer operations in the US due to intense competition and low profit margins. The termination of the agreement with SI-parent Authentic Brands will cost 888 about $25 million, but is expected to save the company $6-7 million per year in 2024 and 2025. The US sports betting market has grown significantly since it was legalized in 2018, but profitability has been a challenge for many companies in the sector.

Growth-Negative

Goldman Sachs has reported its lowest annual profits in four years, with net income falling 24% in 2023 to $8.5bn. This was due to a decline in investment banking and losses from its shift away from retail banking. Morgan Stanley also reported an 18% drop in full-year net income to $9.1bn. Meanwhile, Mulberry saw a drop in its Christmas quarter sales due to reduced spending on luxury items. Wizz Air has been asked to pay out more than £1.2m to passengers over cancelled flights and delays. Finally, 888 Holdings reported a fall in annual sales amid a clampdown on safe gambling in Britain.

growth-negative

The FTSE 100 experienced its worst day since August due to a surprise increase in inflation, which led to fears that the Bank of England would have to maintain higher interest rates for a longer period. This resulted in around £30bn being wiped off the value of the blue-chip index. Housebuilders were among the biggest fallers on the FTSE 100 as rising prices dampened hopes of interest rate cuts. Inflation rose to 4% in December, up from 3.9% in November, contrary to economists predictions of a further fall.

growth-negative

Gambling company 888 is laying off several employees in Israel as part of a larger round of layoffs within the organization. This follows a previous round of layoffs in Israel in January. The company, which has a total of 11,000 employees, recently acquired competitor William Hill for £2.2 billion, a move that has complicated its financial situation. The company was founded in 1997 and went public on the London Stock Exchange in 2006. It currently has a market cap of around £363 million.

growth-negative

Qatar’s sovereign wealth fund is planning to raise as much as £517m from selling nearly half its stake in Barclays. The sale represents 2.4pc of Barclay’s entire share capital.

growth-positive

The article discusses the growth of the sports betting market in the United States, where it is now legal in 24 states. The market is expected to grow at a CAGR of 10.3% from 2023 to 2030, reaching a value of around $182 billion. Key players in the market include 888 Holdings plc, Wynn Resorts Limited, DraftKings Inc., Entain Plc, and Penn Entertainment Inc. The article also mentions several acquisitions and partnerships in the industry, such as DraftKings offer for Pointsbet Holdings Ltd’s US assets and Entain Plcs acquisition of STS Holding S.A.

Growth-Negative, Growth-Negative, Growth-Positive

Nike is expected to report its fiscal first-quarter earnings with a revenue of approximately $13bn, a decrease from the same period last year. The companys performance in China, a significant part of its growth story, will be closely watched. Bookmaker 888 has reduced its annual core profit forecast and expects a 10% drop in third quarter overall revenue to around £400m, due to customer friendly sports results and regulatory changes. Shares in Peloton surged over 15% after the company announced a five-year partnership deal with Lululemon, which will see Peloton provide content for Lululemon’s exercise app and Lululemon become the main sportswear partner of the at-home bike and treadmill business.

Growth-Negative

888, the owner of William Hill, has issued a profit warning due to the impact of compliance and regulatory changes and customer-friendly sports results that have cut into margins. The betting group now expects third-quarter revenues to fall by 10% year on year to about £400 million. Fourth-quarter revenues are expected to be sequentially higher than the third quarter but lower year over year by a mid-single-digit. As a result, full-year earnings before interest, tax, depreciation and amortisation are expected to be below prior expectations.

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Entain, the owner of Coral and Ladbrokes, has set aside £585m for potential fines related to an ongoing HMRC investigation into alleged bribery at its former Turkish subsidiary. The company had previously warned of a substantial financial penalty due to the conduct at its former subsidiary. The investigation began in 2019, focusing on the firms suppliers before shifting to the GVC Group, which later rebranded as Entain. The Turkish subsidiary was sold in 2017, prior to the start of the investigation. Despite the potential penalty, Entain reported a 6% increase in earnings before taxes and other charges in the first half of this year.

growth-positive

British online gaming company 888 Holdings has appointed Per Widerström as its new CEO, effective from October 16. Widerström, former CEO of Fortuna Entertainment Group, was chosen despite shareholder FS Gamings call for its own candidates to be appointed to top roles. The announcement comes after 888 Holdings recently ended discussions on management changes proposed by FS Gaming, following the launch of a review of the companys UK operating license by the industry watchdog. FS Gaming, which holds a 6.6% stake in 888, had proposed its own candidates for the positions of chair, CEO, and finance chief.

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The UK Gambling Commission has put the license of 888, the owner of William Hill, under review due to concerns about a new shareholders links to a bribery investigation by the UK tax authority. The shareholder in question is FS Gaming Investment Consortium, which has a nearly 7% stake in 888 and is backed by former executives of GVC, a gambling giant later rebranded as Entain. The group includes Kenny Alexander, who built GVC into one of the worlds largest gambling companies, and its former chair Lee Feldman.

growth-negative

The Gambling Commission has effectively blocked a boardroom takeover of 888, the owner of William Hill, by former Entain boss Kenny Alexander due to his links to a bribery scandal. Alexander and his team had built a stake in 888 and were in talks with its executive chairman, Lord Mendelsohn. However, the commission warned that appointing Alexander and his allies could put 888s licenses at risk due to their links to a bribery scandal at Entain. This led to a 25% drop in 888s shares and the termination of discussions with Alexanders company, FS Gaming.

growth-negative

Former Ladbrokes and Coral boss, Kenny Alexander, is planning a boardroom coup against William Hills parent company, 888, if his attempt to take control is rejected. Alexander and his allies have hired investment bankers from Numis and have presented proposals to install Alexander as CEO and his close ally as chair. Talks are ongoing, but the situation could turn hostile if the board rejects their proposals. Alexanders coalition, FS Gaming Investments, recently acquired a 6.6% stake in 888. The rebel investors also want to remove the current chairman and install a new one. However, concerns have been raised about Alexanders takeover due to ongoing criminal proceedings against his former employer, GVC. 888s largest shareholder, the Shaked family, is said to support the current chairman.

growth-positive

HG Vora Capital Management, an activist investor, has disclosed a 5.5% stake in gambling company 888. This comes a week after former executives from rival bookmaker GVC revealed they had bought a 6.5% stake. The New York-based fund, headed by former Goldman Sachs banker Parag Vora, had a stake below the disclosure threshold but increased its shareholding recently.

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888 Holdings Plc, the owner of British betting chain William Hill, saw a surge in its stock price after a group of gambling industry veterans, including Lee Feldman and former top Entain executives, acquired a 6.6% stake in the company. The investor group aims to push for changes at 888 and boost its market value. The companys market capitalization has declined significantly since its debt-fueled takeover of William Hills assets outside the US. The investor group, familiar with successful integrations in the industry, sees potential in the 888/William Hill integration and believes the company is undervalued. They have already contacted 888 with proposals to enhance value, including leadership and strategy changes. 888 is currently searching for a permanent CEO.

growth-positive

FS Gaming Investments, an investment vehicle backed by former board directors of gambling group GVC, has acquired a 6.5% stake in 888, the owner of William Hill. The investment group, which includes former GVC CEO Kenny Alexander, former chair Lee Feldman, and Shay Segev, saw an opportunity in the low share price of the bookmaker. Segev was Alexanders successor who oversaw GVCs takeover of Ladbrokes and the creation of Entain.

growth-negative

Aye SPAC has decided to return the funds to its investors, indicating a failure to complete its planned IPO. This decision highlights the challenges faced by SPACs in the current market environment. The article discusses the broader implications for the market and the potential reasons behind the failure, including high valuations and macroeconomic conditions. The event underscores the difficulties in sustaining the initial hype around SPACs and the technology sector.

growth-negative

Gambling group 888 has laid off dozens of employees in Israel due to challenging economic conditions and the need to cut costs. The company had employed around 590 people in Israel prior to the cutbacks. 888 admitted that changes in economic conditions since announcing the acquisition of competitor William Hill have forced the group to take action. The company cited global macroeconomic conditions, high inflation, energy cost hikes, higher interest rates, and potential regulatory changes as factors contributing to the challenging operating environment. 888 acknowledged the need to readjust its cost base and priorities to reflect the wider market environment. The company was founded in 1997, went public in 2006, and currently has a market cap of around £450 million.

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888 Holdings shares plummeted after the company reported a two-thirds drop in pre-tax profits in the first half of 2022. The decline was attributed to loosening Covid restrictions and stricter safety measures, which led to a decline in online gambling by Britons. The company also incurred costs associated with selling its bingo division and acquiring William Hills non-US operations. Total revenues fell by 13%, with the largest decline occurring in the UK. However, revenues earned in the US increased by 29%. The companys shares have declined by around 60% in the past 12 months. British bookmakers have seen financial boosts from the liberalization of gambling laws in the US, but they have also become targets for potential takeovers.

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British bookmaker 888 Holdings Plc reported a 66% slump in its first-half interim profit, falling to 14.4 million pounds ($17.57 million) from 41.9 million pounds last year. The decline was attributed to tightened UK online gambling safety measures and the cost-of-living crisis. The company, which recently acquired William Hills international assets from U.S.-based owner Caesars Entertainment, expects revenue in the second half to be in line with its performance in the first six months of 2022. Total revenue for the reported period dropped 13% to 332.1 million pounds.

growth-positive

The article discusses the importance of accurate information about games for slot studios and the challenges they face in promoting their games to players and operators. It emphasizes the role of affiliates as a powerful marketing channel and the need for them to publish accurate information. The article also highlights the concern of incorrect game stats being published and the potential damage it can cause to the reputation of the studio. The solution proposed is for studios to ensure their asset packs and game sheets are given proper attention and to use platforms like First Look Games to deliver these packs to affiliates. First Look Games offers an accuracy tracker and age-gating of demo games to ensure compliance.

growth-positive

888 Holdings has experienced a significant increase in stock price over the past three months. The article focuses on the companys return on equity (ROE) as a measure of profitability and its impact on earnings growth. The ROE for 888 Holdings is 33%, which is higher than the industry average of 5.2%. The company has also seen a net income growth of 16% over the last five years, outperforming the industrys growth rate of 12%. Despite returning most of its income to shareholders, 888 Holdings has been able to maintain its growth. However, analysts expect the companys earnings to shrink in the future. Overall, the companys performance has been positive, but there are concerns about its future outlook.

growth-positive

Analysts have upgraded their near-term forecasts for 888 Holdings, with increased revenue and earnings per share estimates. The consensus is for revenues of US$810m in 2020, reflecting a 22% improvement compared to the previous year. Per-share earnings are expected to surge 29% to US$0.24. The analysts have also increased their price target for 888 Holdings by 14%. The companys growth outlook is brighter than the recent past and is expected to outperform the wider industry. However, there are warning flags with the business, such as recent substantial insider selling.

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888 Holdings is launching the Control Centre, a new customer-centric safe gambling feature. The Control Centre is a customer-facing interface that will provide players with improved understanding of their gambling behavior and access to safer gambling tools. The tool is initially launching in the UK and will be introduced to other markets in the coming months. The launch of the Control Centre marks a further step in the companys growth, as highlighted by the positive financial results in the first half of 2020. The company is committed to investing in safe gambling tools and technology to prevent gambling-related harm. They also have plans to introduce new poker and sportsbook products and expand into additional markets.

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The article discusses the institutional ownership of 888 Holdings plc. It mentions that institutional investors have bought into the company, indicating credibility among professional investors. The companys largest shareholder is Dalia Shaked, with ownership of 23%. More than half of the companys shares are owned by the top 6 shareholders. The general public also holds a 31% ownership, which can have an influence on how the company is run. The article advises considering other factors and warns about 4 warning signs for 888 Holdings. The article does not provide specific information about any partners, customers, valuation amount, acquisition amount, investment amount, layoffs, or the date of the event.

growth-positive

888 Holdings expects its 2020 financial performance to be better than anticipated. The company also announced its entry into three additional US sports betting states. The revenue for FY20 is expected to be 45% higher than the previous year. The companys earnings margin is expected to remain unchanged. 888 has secured market access deals with Colorado, Indiana, and Iowa, with sports betting launches planned for next year. The company has partnered with Colorado Grande Casino, Catfish Bend Casinos II LLC, and Caesars Entertainment for these launches. The CEOs previous comments about bidding on rival William Hills European online operations were not addressed. 888 recently appointed a chief strategy officer to focus on strategic business development, including mergers and acquisitions. Other companies, such as GVC Holdings and Apollo Global Management, are also interested in acquiring William Hills non-US operations.

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The CEO & Director of 888 Holdings, Itai Pazner, recently sold shares, decreasing their holding size by 27%. Insider selling has been more prevalent than buying in the last three months, raising caution. However, the company is growing earnings and has a high level of insider ownership, which suggests management is mindful of shareholder interests. The article advises considering the risks before making any investment decisions.

growth-positive

888 Casino, a leading online gambling platform, is offering a range of bonuses and promotions to attract new customers and retain existing ones. The casino offers a welcome bonus of up to £200 for new players, as well as ongoing promotions and a VIP Club for loyal customers. The platform also features a dedicated mobile app, allowing players to take their gaming experience on the go. The casino offers a wide range of payment methods and is supported by top casino software providers like Red Tiger, NetEnt, and Microgaming.

growth-positive

888 Casino, an online gambling platform, is offering a variety of promotions and bonuses to its customers. The platform provides a range of games including live casino games, slot games, and jackpot slots. It also offers a dedicated mobile app for Apple and Android devices. The platform has a VIP Club for its most loyal members, offering exclusive rewards and high stake games. The platform is operated by Virtual Global Digital Services Limited, a member of the 888 Group of companies.

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London-listed online gambling company 888 Holdings PLC is letting go 45 employees from its Israeli research and development team as part of a reorganization and cost-cutting plan. The company employs 600 people in Israel out of its 1500 global employees. 888 Holdings reported a 2% drop in revenues in 2018 but a jump in profit.

growth-positive

888 Holdings Plc has announced the acquisition of the remaining 53% interest in AAPN Holdings LLC for US $28 million. This acquisition is a strategic milestone for 888 and will support the companys future growth strategy in the US. It will provide 888 with full flexibility to pursue multiple growth opportunities, including developing new strategic partnerships. The AAPN joint venture was established in 2013 between Avenue OLG Entertainment LLC and 888 to launch 888s B2C brands in the regulated online gaming market in the United States. The acquisition will give 888 independent control of its growth strategy in the US, allowing the company to sign new partnerships and deploy its proprietary products and technology in new states as they regulate.

growth-negative

Online gambling operator 888 Holdings reported a 1% year-on-year improvement in revenue for the six months ending June 30. However, in constant currency terms, group revenue suffered a 5% decline. The companys shares hit their lowest point in over two years following the announcement. The decline in revenue was attributed to struggles in the core UK market and the companys withdrawal from certain markets. Casino revenue and sports betting revenue saw growth, while poker revenue and bingo revenue declined. The company plans to launch its new Poker 8 platform and its Flash-free Orbit casino platform in regulated markets. The UK markets share of group revenue decreased, while regulated market revenue in Europe increased.

growth-positive

Online gambling company 888 Holdings PLC has begun offering online poker liquidity to players in New Jersey, Delaware, and Nevada. This has resulted in a 16.4% increase in the companys stock price. 888 Holdings owns several online gambling brands and was forced to withdraw from the U.S. market in 2006. However, they struck a deal with Caesars Interactive Entertainment Inc. to extend their software licensing agreement to the U.S. for the three states. The company is considering withdrawing from the German market due to regulatory difficulties. In their annual financial report, 888 Holdings stated that their poker revenues decreased in 2017. Despite this, the company reported record revenues and an increase in adjusted EBITDA for the same year.

growth-negative

888 Holdings PLC, an online gambling company, is considering withdrawing from the German market due to regulatory proceedings. The company reported record revenues of $541.8 million and a 12% increase in adjusted EBITDA for 2017. However, it also recorded exceptional charges of $50.8 million due to potential value added tax in Germany. The companys profit before tax for 2017 was $18.8 million, compared to $59.2 million in 2016. Germanys Federal Administrative Court upheld a ban on certain types of online gambling, which affected 888 Holdings operations in the country. The company is disappointed by the ruling and is considering potential courses of action, including a petition to the German Federal Constitutional Court. The regulatory changes have also led to some payment institutions ceasing to provide services to the company in Germany.

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The share price of 888 Holdings has dropped by approximately five percent after The O Shaked Shares Trust sold its entire stake in the company. The trustee, Sinitus Nominees Ltd, sold 46,283,534 ordinary shares at a price of 243 pence per share, reducing its stake in 888 to zero. This sale comes after the Shaked Family previously reduced their equity in 888 Holdings. The sale has sparked rumors of a potential takeover of the company. The gambling industry in the UK has seen several major consolidations, and GVC Holdings is actively looking for potential acquisitions in the sector. GVC Holdings has been linked as a potential suitor for 888.

growth-positive

Online gaming company 888 Holdings attributes its continued success to its proprietary technology and expertise in CRM, marketing, and analytics. The company reported a 19% increase in revenues and a 39% increase in pretax profits for the six months ending June 30th. 888 Holdings focuses on creating a never ending cycle for online business, investing in marketing to acquire customers, who then make deposits, leading to more gaming activity and revenue. The companys proprietary offerings are gaining traction with customers, with internally developed content dominating its casino platform. Mobile is driving growth, accounting for over half of all UK revenue. 888 Holdings is considering integrating games traditionally suited for desktop use into its mobile offering. If the company can continue to differentiate itself and adapt to changing market behaviors, it may see further gains.

growth-positive

888 Holdings and Rank Group have formed a consortium to potentially bid on bookmaker William Hill. The UK gambling industry could see further consolidation as the consortium considers a £3 billion takeover of William Hill. This comes after William Hills CEO resigned and the company issued a profit warning. The consortium sees potential benefits from the combination of their online and land-based operations, as well as revenue and cost synergies. The three companies have until August 21, 2016, to make a formal offer. If the move goes ahead, it will further consolidate the British gambling industry.

growth-positive

GVC Holdings plc has outbid 888 Holding plc to acquire Bwin.Party Digital Entertainment for $1.7 billion. 888 had previously agreed to acquire Bwin for $1.4 billion, but GVC offered a higher unsolicited bid of $1.55 billion. GVCs latest bid of $1.7 billion was accepted, making it the winner of the acquisition battle. The acquisition will allow GVC to expand its poker operations and enter the bingo and sports betting online markets. Despite losing the bid, 888s share price remained unchanged. GVC is expected to pursue smaller acquisitions to accelerate growth and strengthen its market position.

growth-positive

Bwin.Party Digital Entertainment has been acquired by 888 Holdings in a deal worth $1.4 billion. The acquisition is expected to increase the scale of 888 Holdings and generate at least $70 million in annual cost savings. The deal is set to close by the end of Q4 2015 or early Q1 2016. Bwin.Partys directors and shareholders have agreed to support the deal. Bwin.Party offers various forms of online gambling and posted revenue of $668 million in 2014. 888 Holdings, founded in 1997, posted revenue of $454.7 million in 2014.

growth-positive

The London Times reports that William Hill is in advanced talks to acquire 888 Holding plc for £750 million. The Shaked and Ben-Yizhak families, who own 60% of 888s shares, have been offered cash or shares, but the Shakeds are holding out for a higher price. William Hill had previously been linked with a move for Bwin.party. 888s shares were up 23% in London, giving a market cap of £615 million.

growth-positive

Private equity group Permira is reportedly in negotiations to acquire 888 Holdings, a major online gaming company. The potential acquisition is seen as a growth-positive move for 888 Holdings, as it would allow them to join a lucrative market that has been stabilized with the introduction of the UK Gambling (Licensing and Advertising) Bill. This is not the first time other companies have shown interest in acquiring 888 Holdings. If the negotiation leads to a takeover, it would be the third major online gaming company to be acquired in the last four months.

growth-positive

Online gaming firm 888 Holdings has agreed to acquire the assets of social game development firm Mytopia for $18 million. The acquisition will allow 888 to enter the social games market and easily distribute games across various online platforms. Mytopia specializes in cross-platform social games and has developed games for Facebook and smartphones. The acquisition demonstrates 888s interest in micro-transaction and virtual currency models and their desire to connect with future customers through social games.