In February of this year, 888 Holdings officially announced the acquisition of an online bingo portfolio, which includes the well-known English brand, Costa Bingo. By acquiring this portfolio, 888 Holdings solidifies its position in the UK online bingo market, gaining complete control over Costa Bingo and several other additional brands. This transaction further strengthens 888's presence and dominance in the online bingo industry.

The deal, worth 18 million pounds, has been sealed between 888 and Jet (Jet Management Group Limited and Jet Media Limited), subsidiaries of a consortium led by JPJ Group plc, the parent company of Jackpotjoy brands. The transaction will be split into two payments, with 12 million pounds to be paid upon completion and the remaining 6 million pounds scheduled for September 2019.

It is worth noting here that the 888 Group operates under two business lines: B2C (business-to-customer), headed by the 888 brands (888 Casino, 888 Poker, and 888 Sport), and B2B (business-to-business), led by Dragonfish, which provides a top-level platform where companies can establish their online presence and monetize their own brands.

Jet has been partnering with Dragonfish since 2009, running brands such as Costa Bingo, City Bingo, and Sing Bingo. With the acquisition of Jet's bingo brands, 888 Holdings takes the lead as one of the top bingo providers in the United Kingdom. This acquisition grants the company complete control over these and other brands. Previously operated as business-to-business (B2B), 888 will now operate them as business-to-customer (B2C).

CEO of 888 commented

In an official statement, Itai Pazner, the current CEO of 888, commented on the significance of the acquisition.

The company remains committed to its expansion strategy in regulated gambling markets. This expansion is being fueled by organic growth initiatives, bolstered by the exploration of value-added mergers and acquisitions. The company's steadfast dedication to expanding its presence in these markets is evident through its proactive approach to seeking out opportunities for growth and seizing them with calculated precision. By leveraging its expertise and capitalizing on synergistic partnerships, the company is poised to achieve substantial growth and establish itself as a dominant player in the industry.

We are delighted to announce the acquisition of this portfolio of brands, which includes the successful Costa Bingo. Having been developed on Dragonfish, the top-tier B2B platform of the 888 Group, we are confident that incorporating these brands into our current B2C portfolio will provide growth opportunities, leveraging the full extent of 888's execution capabilities in product management, marketing, and customer relationship. Exciting prospects lie ahead as we integrate these brands, with their rich heritage and loyal customer base, into our existing operations. Our commitment to delivering exceptional gaming experiences and fostering strong customer relationships will be further enhanced through this strategic expansion. Together, we will continue to innovate and drive the success of our business in the dynamic online gaming industry.

Itai Pazner, the CEO of 888 Holdings

Since its inception in 1997, 888's mission has revolved around delivering cutting-edge and top-tier gaming products to its users within a secure environment. Pioneering the gaming and betting industry, the company has always been at the forefront, providing a superior gaming experience for both players and B2B affiliates alike. Rest assured, 888 continues to innovate and surpass expectations in the realm of gaming.

At the core of 888's business lies its unique technology and the associated platforms. The Group operates in South Africa through its 888 Casino, 888 Sport, and 888 Poker. Discover our website reviews to delve deeper into these platforms. Let us provide you with further insights into their offerings.