888 Holdings Reportedly Eyeing William Hill
So magnificently successful a year did 2020 emerge to be for online gaming and entertainment giant 888 Holdings, that it is reportedly eyeing a couple of big-money M&A targets in 2021. And though as of yet unconfirmed, rumour has it one of those targets might very well be William Hill’s non-US assets.
As for the group’s best-performing verticals, online casino came out on top for 2020, with the vertical showing a 63 per cent improvement when compared to figures reported in 2019. Second in the performance line had been online Poker, which saw a 48 per cent year-on-year growth target hit. Overall, the entertainment giant experienced impressive double-digit growth across each and every one of its commercial verticals in 2020, with combined revenue up 51.6 per cent reported across the gamut of its verticals year-on-year.
Enormous Success Despite 2020
888 Holdings achieved much over the 12 months that was a precariously treacherous year. This was also the year that saw it beginning to increase its US operations to scale, resulting in the online gaming and entertainment brand now enjoying a footprint in an impressive seven US states.
According to CEO Itai Pazner, it had been a landmark 2020 for 888 Holdings, and that this momentum is fully expected to extend into the remainder of 2021. Pazner said he and the rest of the 888 board are confident in 888’s ability to keep the incredible momentum going because of the brand’s product-centric approach, its responsible gambling code of conduct, and its focus on being a diversified operator.
Growth Plans For The Future
Pazner also revealed 888’s plans to soon launch across 3 more US states. He said that even though the UK remained the best performing market for the group’s different products and brands, accounting for 39 per cent of the total of its revenue, there remains much potential to be unearthed in the United States and the Americas.
As for what the immediate future holds, Pazner said the focus will be on making new acquisitions in order to grow and diversify even further. The focus will according to the group CEO be on merger and acquisition opportunities nestled within 888’s core European markets. Pazner reportedly told a leading online gaming newscaster that there weren’t currently any attractive M&A opportunities in the United States, and that that the group will subsequently be looking beyond the US for immediate possibilities.
This has stoked the rumour of the brand’s interest in William Hill’s non-US assets even more. While Caesars Entertainment is currently completing its $3.7 billion take-over of William Hill, it will only be acquiring the UK sports betting giant’s US assets, leaving its non-US assets for the taking.