888 Holdings has announced its acquisition of Irish gambling operator BetBright for a sum of £15 million.
Itai Pazner, 888 Chief Executive, said that “This acquisition of a high-quality and scalable sportsbook solution 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 propriety, end-to-end solutions across the four major online gaming verticals”.
888, which already owns online casino, poker, bingo and sports betting platforms, will integrate BetBright’s sportsbook technology, as well as its risk management, product and technology capabilities. According to Pazner, this will “significantly strengthen 888’s sports betting expertise and industry know-how”. BetBright’s Dublin office is also set to be integrated into the 888 Group as part of the deal.
The online gambling operator has stated that it plans to integrate BetBright’s technology as soon as possible. 888 will then “begin a phased and market-by-market roll out of its proprietary sports book solution once integration is completed”.
The BetBright brand has since ceased offering online gambling services. Customers are able to access their accounts for 30 days from 5th March, during which time they can withdraw their funds. 888 has agreed to pay out on winning Cheltenham bets as “a gesture of goodwill”, though all other unsettled bets have been voided.
The acquisition of BetBright is 888’s third in recent months, following its December buyout of All American Poker Network and the purchase of three online bingo brands from JPJ Group in February. The move reflects 888’s ambition to become a global market leader in the online gambling industry, and to expand its US presence following the repeal of the sports betting ban.