888 Does great from purchase of Wink Bingo
Posted on March 21, 2011 by John Trevors for Luckyroom.com
888 Holding plc bought Wink Bingo back in December 2009, a while back but something at the time that really helped to save Wink Bingo from going under. It was a purchase that was done to help out both companies needless to say and well with earnings that were released for the first quarter of the year it looks like it might have been a fabulous purchase! Originally the first payment made to Wink from 888 was 18 million dollars and payments based on performance would come later on.
They’ve reported a nice profit this quarter that shows that maybe more people are playing bingo even though the economy still isn’t that great. The revenues went up a nice 2.8 million when compared to the same quarter back in 2009. It was a surprise and a nice one for 888 when they announced those changes. In fact they felt it was above and beyond what they originally expected to see when they first purchased Wink Bingo.
No hard number was stated to what Wink owners were going to be getting, but the next payment is thought to be around 15 million, and perhaps another 15 million that they can get at the end of the next quarter, or May. Plus in August when the third quarter is completed possibly another 10 million pounds, and still more payments to be made coming up in May 2012. There had been rumors that 888 was possibly looking at Ladbrokes Bingo as another company they may buy out, but with these earnings they may be happy with what they’ve gotten and let that go for now.
A great purchase for those people who love Wink Bingo and still get to play at it since the purchase!
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