In a surprising move, online gambling giant 888 Holdings has announced that it will be selling its B2C operations to the iconic entertainment company Hard Rock International. The deal, which is valued at £450 million, marks a significant shift in the online gambling industry and has left many industry insiders stunned.
888 Holdings, which is based in Gibraltar, is one of the largest and most well-known online gambling companies in the world. The company operates a wide range of online gambling sites, including casino games, poker, and sports betting. However, in recent years, the company has faced increasing competition from other online gambling operators and has struggled to maintain its market share.
In contrast, Hard Rock International is best known for its chain of music-themed restaurants, hotels, and casinos. The company, which is owned by the Seminole Tribe of Florida, has been rapidly expanding its presence in the gambling industry in recent years, with plans to open multiple casinos and resorts around the world.
The deal between 888 Holdings and Hard Rock International will see Hard Rock taking over 888’s B2C operations, including its popular online casino and poker sites. The deal is expected to be completed by the end of the year, pending regulatory approval.
In a statement, 888 Holdings CEO Itai Pazner said, “This deal represents a significant strategic move for 888 Holdings, allowing us to focus on our B2B operations and continue to grow in key markets around the world. We believe that Hard Rock International is the perfect partner to take our B2C operations to the next level and we are excited to see what the future holds.”
Hard Rock International CEO Jim Allen echoed Pazner’s sentiments, saying, “We are thrilled to be expanding our presence in the online gambling industry with this acquisition. 888 Holdings has built a strong reputation in the industry and we are excited to work together to continue to deliver top-notch gaming experiences to players around the world.”
Industry experts have hailed the deal as a smart move for both companies. With Hard Rock’s expertise in the gambling industry and 888’s strong brand recognition, the partnership is expected to create a formidable player in the online gambling market.
The news of the deal has sent shockwaves through the industry, with many speculating about what the future holds for both companies. As the online gambling industry continues to evolve, it is clear that partnerships like this will play an increasingly important role in shaping the future of the industry.
