888 to sell select US B2C assets to Hard Rock Digital

28 March 2024

(PRESS RELEASE) -- 888, one of the world’s leading betting and gaming companies with internationally renowned brands including William Hill, 888 and Mr Green, today announces the conclusion of its strategic review of U.S. B2C operations. As a result of the review, the group has agreed the sale of selected assets to Hard Rock Digital, completion of which is conditional upon, amongst other items, relevant regulatory approvals. It is expected that the disposal will be completed in a number of phases, with final completion expected in Q4 2024.

The Group has commenced a controlled exit of its remaining US B2C operations, with the intention of fully ceasing operations by the end of 2024, subject to regulatory approvals and process. The exit of US B2C operations is expected to realize a recurring annualized benefit to Adjusted EBITDA of approximately £25 million from 2025 onwards. The Group intends to reinvest approximately £10 million of these savings into growth and value creation initiatives.

The combined net impact of the sale and exit of US B2C were already incorporated into the financial targets that the Group announced on 26 March 2024. The Group currently expects to incur net one-off cash costs of approximately £40 million in relation to the exit of the US, inclusive of the brand licence termination fee already announced, with such payments occurring from 2024 until 2029.


Related Links
evoke

FEATURED iGAMING SUPPLIERS
igpixel
global-gaming-expo-g2e
Igpixel
Launch your online betting site w/ the latest technologies on IGPIXEL's advanced iGaming platform
Global Gaming Expo (G2E)
The largest gathering of global, commercial and tribal gaming professionals in North America.
casino-city-press
casino-web-scripts
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Casino Web Scripts
Providing certified casino software & casino games with no monthly fees.Custom development available
mondogaming-srl
betinspire
Mondogaming SRL
A leading software provider for sportsbook platforms, projected in the B2B and B2C business
BETINSPIRE
A leading iGaming Platform(PAM) software Source Code provider and B2B Platform supplier.
Your Guide to 3,666 iGaming Industry Suppliers
ADD YOUR COMPANY   |   ABOUT US     linkedin Twitter Facebook