888 Holdings Aiming to Gain Sports Betting Market via Mergers and Acquisitions

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888 Holdings is among the gaming companies looking forward to acquisitions in an attempt to gain market. On Wednesday, 888 Holdings CEO Itai Pazner confirmed that the operator could be soon prowling for deals.

888 Holdings was founded in 1997 and had previously gained exposure to the US market via an agreement with Delaware Lottery. 888 Holdings has also been running World Series online Poker’s platform for Caesars Entertainment.

However, the company is known for shifting toward sports wagering. 888 Holdings has reached an agreement with Sports Illustrated to use the sports journal’s name on sportsbooks. The Gibraltar-based 888 has also been rumored to be among the three contenders of William Hill’s International assets.

Caesars Entertainment (NASDAQ: CZR) is auctioning the businesses and is expected to reveal the winning bidder in the fourth-quarter reporting. If 888 bid for William Hill assets wins, the operator will greatly bolster its European footprint.

According to an investor presentation, 62 percent of 888 Holdings revenue is generated in UK, Italia, and Spanish markets. However, 888 is aiming to be operational in 15 states in the US by 2024 and commend a 5 percent share in those markets.

However, Pazner did not reveal the specific companies 888 Holdings was targeting for acquisition. The company has a history of acquisitions. In 2019, the company made two small deals instead of big and costly acquisitions.

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