Gigi Levy the Chief Executive Officer for online gaming heavyweights 888 Holdings – 888 Bingo – 888 Ladies – has indicated that more takeovers could be on the horizon during an interview with London’s Evening Standard. 888 Holdings recently acquired Wink Bingo, Posh Bingo and Bingo Fabulous but the word from Levy is that the company are not finished with regards to expanding their portfolio. Gigi Levy has already indicated his satisfaction with regards to the recent Wink Bingo takeover and has also implied that 888 holdings are already set to take on more bingo sites.
Unlike so many of the bigger gaming companies right now, 888 Holdings has no debt and so is definitely in a good position to take on more companies. And it sounds as if Levy has ever intention of keeping a sharp eye on the horizon with regards to any possible mergers or acquisitions that may be up for grabs. Mr. Levy hinted that 888 Holdings were in the advanced stages of a “small acquisition” and in the early stages of negotiation with regards to the acquisition of a bigger company too. Although which companies was not indicated at this time.
Right now it is not understood if 888 Holdings is looking at another bingo site or a gaming websites. So it looks like we will all have to keep our ear to the ground for more news. Without doubt acquiring Wink Bingo has turned out to be a very positive move for the company with this bingo site already producing a notable income in 2010. With all 888 Holding’s latest acquisitions their customer base has been boosted by an incredible 52% – not so surprising though because Wink Bingo are a big favourite with online players and with a juicy 200% welcome bonus on the table you can bet that their customer base is will keep on going up!
Gigi Levy stated “Our positive momentum continues into 2010 and, supported by our successful Wink Bingo acquisition and our various business initiatives, we expect to grow the business further during the current year.” 888 Holdings have just released their final results for last year – 2009 – and without doubt investors will be happy with those results: The Company’s 4th quarter results were up by 14% on 2008 and their Business2Business sector – Dragonfish – is also up by 36% from 2008. So it looks like the future is looking bright for 888. In the first quarter of 2009 the company started a significant re-branding exercise to reorganise the 888 brand’s focus and a range of new sites were launched: 888 casino, poker, 888 bingo and 888 Sport being among the new additions. And it looks like we can all look forward to even more choice from 888 very soon.
