Playtech Makes Bid for 888
Playtech has eventually made it all by giving a highest bid to purchase 888. Being one of the highly active gaming companies, 888 has been giving away offers for many years . The latest offer was reported today in Israeli financial daily, Calcalist, made so far is by Playtech’s Teddy Sagi, worth ₤200 million. The company’s value has been lowered down comparatively over the years because being an online gambling giant, it’s worth was about a billion dollars when 888 holding plc floated on the London Stock Exchange (LSE: 888). Currently its worth has been increased again upto ₤169 million because of its market cap and comparative rise in the stock exchange value.
Playtech, Ltd an online casino software which is worth $1 billion to purchase 888 for an even higher value, reportedly at about ₤200 million. Some other offers were also made earlier by part-owner Avi Shaked and by the UK bookmaker Ladbrokes plc (LSE: LAD) but the biggest bid was made for ₤240 million leaving behind no reason for 888 to be sold. Playtech and Ladbrokes (and others) are still interested to buy 888 for some quite obvious reasons, regardless of the fact that its value has been lowered down day by day in the market.
888 is considered to be the world’s largest online casino operator, with a strong position in the UK online gambling market. Being a combination of a competitive industry having load of rivals, competitors and regulations.
Playtech and William Hill plc (LSE: WMH) got merge in 2008 which was highly noticed by the masses. Both teams have benefited greatly from the deal. Now a days their merger is followed by some other companies too like Party Gaming plc (AIM: PRTY), known as the world’s leading online casino and poker brand, and another online sports betting operator bwin Interactive Entertainment AG (DAX; ATX: BWIN).
