The Broadway Gaming Group, which is in charge of the biggest UK bingo networks, is set to acquire 888’s B2C bingo business, along with the B2B division, Dragonfish, in a deal that is worth $50 million, according to a press release. Effectively, Broadway is acquiring the full 888 Group bingo business and offer, which extends to technology, underlying assets, operations, and all B2B clients, and through that, access to bigger audiences.
Broadway Gaming to Increase Its Bingo Hegemony
As a result, Broadway Gaming Group will secure a pivotal position in the UK bingo market, which it already has a significant share of. The deal may come with an earnout of $4 million based on performance criteria and whether they have been completed. Broadway Gaming CEO David Butler had this to add:
“We are delighted to reach an agreement with 888 to acquire its bingo business and platform. By combining these with our existing business and brands, which include ‘Butlers Bingo’, we will be able to achieve an even stronger global footprint in key regulated bingo markets.”Broadway Gaming CEO David Butler
Thanks to the deals, Broadway will have a stronger foothold in bingo businesses as it would also have the opportunity to leverage Dragonfish’s expertise in deploying advanced bingo platforms as well as create more memorable experiences that are not available to rival platforms unless they have been licensed.
Broadway has vowed that it would put a great emphasis on maintaining responsible gambling as one of its core principles and the addition of the B2C and B2B units will further boost the company’s ability to protect consumers.
Dragonfish’s team will also be joining Broadway, which would give the brand an immediate leg-up in understanding the B2C and B2B market even better, strengthening existing operations and opening up new opportunities.
Butler has commended the level of sophistication of the 888 Group bingo’s product. Broadway and 888 have been working together for several months prior to the purchase which revealed the full capabilities of the B2C and B2B divisions.