A decision was reached, following a long term overview of where the business as a whole was going, with more of a focus set to be concentrated on expansion in North America and growing its online gambling and sports betting divisions.
Chief Executive of 888, Itai Pazner spoke candidly about the decision after the news was revealed: “Following a strategic review, we have taken the decision to sell the bingo business.
He continued: “This strategic transaction will enable 888 to further increase its focus on its core platform and unified, scalable and proprietary technology, and grow our key product verticals of casino, sport and poker, as we continue in our mission to be one of the world’s leading online betting and gaming businesses.”
It has also seen them obtain a licence for the newly regulated Dutch market, which will help to give them an edge over their competitors, due to the vastly difficult task that it now is to be granted permission to operate in the Netherlands., with this set to come to fruition in the early stages of next year.
Does a move away from bingo make sense?
The company has gained a reputation over the years for creating some of the most recognisable bingo brands in the industry – the most notable being 888Ladies and Wink Bingo, which begs the question, does it make sense to sell them off?
There is no question that online bingo is still very much a sector of the industry that still performs well and should they fail to make as big an impression in the US as they would like, their bingo assets could well be valuable to them – especially in terms of the balance sheet.
James King is an iGaming journalist with over a decade worth of expierence. Having worked as part of varous online casinos digital content team, he moved into journalism covering the latest news and devlopments in the iGaming world.