Billion deal between online casino 888 and Bwin
August, 18th 2015
Who thought that online casinos merely present a comprehensive range of games but not gamble themself, was obviously wrong, as a recent case proves. Currently, the online casino industry gambles about the acquisition of the gaming provider Bwin.
The plan is a takeover by the online casino 888, which is ready to pay a sum more than one billion euros.
The severe restrictions made by the authorities are pressurising the online gambling industry. Nevertheless, the takeover of rival Bwin is planned by the provider 888.
It was announced that the online provider 888 is willing to pay a sum of EUR 1.3 billion for the acquisition. The deal will be paid with cash payments and shares. In general, the German sports betting market is under strict observation by the European Commission.
The government is trying to restrict online gambling with the help of tax increases and stricter requirements. This affects primarily providers that are afraid of their own existence in some extent. So they are using different methods to generate more income.
The acquisition of 888 a step in this direction, hoping and expecting to attract more customers and generate more revenue in the long-run.