Poker Business: William Hill Seeking To Buy 888Deal Reportedly Could Be For $1.14 Billion |
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Online poker site 888, which has been offering games in regulated U.S. markets, has been approached by U.K. bookmaking powerhouse William Hill about a possible merger, according to reporting Tuesday from Reuters.
William Hill reportedly would be willing to spend more than $1.1 billion for 888.
Shares in Gibraltar-based 888 jumped 20 percent thanks to the news.
“The board of the company confirms that it received an approach regarding a possible offer for the company by William Hill,” 888 said in a statement. “There can be no certainty, however, that any firm offer will be made.”
According to the report, 888 might want more than what William Hill is tentatively offering, but the bookmaker, which also has roots in Nevada, probably won’t go any higher.
888 has an existing relationship with the WSOP for online poker in New Jersey and Nevada. In addition, it is the back-end technology for online gaming in Delaware.
Massive mergers are nothing new in the gaming industry. Last year, PokerStars, the world’s largest online poker site, was acquired by Amaya Gaming in a $4.9 billion deal.
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