September 08, 2015

888 plans new acquisitions

Following the very bitter and failed acquisition of online gaming company by 888 Holdings the firm has come out fighting saying it has other “strategic” acquisitions lined up.

Speaking to the Times Newspaper 888 Chairman Brian Mattingley said that they had dropped out of the battle for because if they had raised their own offer there would not have been enough funds to ‘carry out the synergies and cost savings that it had identified ‘said Mattingley.

GVC was announced last week as the preferred choice of the board following an increased bid which then triggered 888 to withdraw from the process. But Mattingley has stated that the failure to acquire does not mean his own company is a target for takeover, with William Hill previously involved in purchasing 888.

“We are not a target,” Mattingley said. “We will do practical and strategic acquisitions particularly to build our sport betting.”

“It is going to be a challenge,” he said. “We will rise to it. We will not be cast aside. We are not an also-ran and we are not a one-trick pony. We have proved that we have got the critical mass.”

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