Ladbrokes to buy 888
Posted on December 20, 2010 by John Trevors for Luckyroom.com
Is Christmas coming early at 888? UK facing and London Stock Exchange listed Ladbrokes plc. has confirmed to be in talks with 888 Holdings plc. in a deal that will enhance Ladbrokes to take over and acquire the operations of the brands operating under 888 including the vertical assortment of products under the 888.com domain in addition to Pacific Poker and recently acquired Foxy Bingo. The discussions which are still at an embryonic stage have not yet announced a figure as further announcements are expected later in the week or early in the New Year.
It is worth mentioning that this is the second time the two gaming giants move in to discussion for a deal with the former being in 2006 when Labrokes again was in serious talks to acquire 888 but when the deal was blown out with the appearance of the UIGEA.
At the same time UK based Sunday Telegraph reported that the initial offer from Ladbrokes was an approximate of 70 pence per share adding up to 240 million GBP as 888 is said to have 345,429,509 ordinary shares of 0.5 pence each in issue.
At the same time industry rumours confirm that both European facing bwin.com and Sporting Bet have both expressed their willingness to buy the triple 8 firm. However industry voices confirm that if a possible acquisition might come through it will most likely come from the Ladbrokes front as the new administration of the UK facing betting giant which currently focuses mainly on its land based betting establishments I eager to make a strong appearance and comeback to the web.
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