Deal of the Month February 2019: Betbright acquired by 888 for approximately €17.5m

Business, Deal of the Month | Mon 4 Mar | Author – Business & Finance

Dublin-based betting group will be acquired by global gambling group 888 in our February Deal of the Month.

London-listed gambling group 888 confirmed that it is buying Irish-based Betbright for stg £15 million, and will integrate the business into its overall operations. Betbright is headquartered in Dublin but regulated in the UK  and provides online sports and casino betting to its customers.

Betbright is backed by racehorse owner Rich Ricci, a former head of investment banking at Barclays. The company is owned by Dublin-registered Dedsert (Ireland) Ltd, which in turn is owned by a British Virgin Islands company Dedsert Ltd.

Itai Pazner, chief executive of 888, said:

This acquisition of a high-quality and scalable sportsbook is an exciting milestone for 888. It gives the group the missing piece in our proprietary product and technology portfolio and will enable 888 to own proprietary, end-to-end solutions across the four major online gaming verticals.

He continued:

Our new colleagues joining from BetBright will significantly strengthen 888’s sports betting expertise and industry know-how, and we are delighted to welcome them into the group.

Betbright is the third acquisition 888 has made in recent months and according to the company is part of its strategy to be “a global leader in the online gaming market by driving organic growth across regulated markets, supported by value-accretive M&A”.

Business & Finance Deal of the Month

Business Person the MonthBusiness & Finance, in association with KPMG, recognises the most important M&A activity, financing deals and partnerships in the business landscape through the ‘Deal of the Month’ award.