Online Gambling Company 888 Holdings Buys Sports Betting Platform

Online gambling company 888 Holdings PLC has announced Monday it will pay 15 million euros to Dublin-based online betting company BetBright for its sports betting platform, which operates in Ireland and the U.K.. 888 intends to start integrations the assets into its own operations "as soon as practically feasible," the company said.

Gibraltar-headquartered 888 Holdings, which employs most of its employees in Israel, owns several online gambling brands, among them 888casino, 888poker, 888bingo, and 888sport. For the first six months of 2018, the company reported revenues of $283.9 million.

The acquisition will enhance 888's long-term prospects in the global sports betting market, the company said. In February, 888 announced a deal to acquire the bingo assets of Jet Management Group Limited and Jet Media Ltd. for $23.5 million.