Offers for 888 have been coming up for years, and the latest has been made by Teddy Sagi from Playtech. The financial daily Calcalist from Israel reported the offer to be worth 200 million GBP. 888 Casino, the once largest online gambling giant is owned by 888 Holding plc. The company was worth around a billion US Dollars when it was floated on the London Stock Exchange. Its value has largely diminished through the years and today, after its stock value has risen considerably recently, it is worth 169 million GBP.
Playtech Ltd, which is now a billion dollar enterprise, on the other hand has made an offer worth 200 million GBP, which well exceeds 888’s current value. However, even higher offers have earlier been made and refused.Avi Shaked, part owner, and the bookmaker Ladbrokes plc from Uk have already offered much larger sums for 888 with the latest being last month which was worth 240 million GBP.
888 are yet to show any sign of interest in selling their brand. They have refused one offer after another without any indication that they might consider accepting one. This offer is nothing more, only a bit diminished from the last ones. The reason for Playtech and Ladbrokes to want the brand name of 888 is that despite its decreasing value, 888 is still one of the biggest names in the world of online gambling, its presence in UK is firm and its position with its following firm.
For many years consolidation has been very important for major players in the gambling industry. It often sees two big names join hands in the form of a merger that is profitable for both the parties.