The Times Reports That 888 Holdings Is About To Acquire A Sports Betting Site

The Times Reports That 888 Holdings Is About To Acquire A Sports Betting Site

Shai Ben Yitzhak CEO and co-founder of 888 Holding plc (LSE:888) and Random Logic is reported as having said in a rare interview that in the future, there will only be a few large online gaming companies in existence. He obviously believed that 888 Holding, which maintains the world’s largest online casino site, would be among these companies, and that through acquiring other companies it would become one of the leading online gaming companies in the world.

888 Holding’s CEO, a Scot named John Anderson, also has been known to have said that consolidation should acts as giving the company a key role in the online gaming industry during the following years, and that his company, 888 Holding, was slated to play a key role in this consolidation. At the moment the company’s market evaluation stands at $1.24 billion.

The following Friday, CEO Anderson raised the stakes by telling Dominic Walsh “The Times” correspondent, that the company was planning to purchase later that year, an online sports betting site. Anderson told “The Times”, that he was looking, for such an opportunity but that he was not talking to anyone at the time. He then added that he was looking for something in Asia rather than in the United States. He pointed out that because of the Wire Act, with regard to the acquisition of a sports book, the company would not be taking bets from American citizens in America, since it was illegal.

During the interview, Anderson brought up the main rival of 888 Holdings, PartyGaming plc (LSE:PRTY). “The Times” reported that he simply denied any claims by PartyGaming that its recent launching of the game of blackjack meant it had in effect overtaken 888 thus becoming the world’s major Internet casino. He reported that it was not his style to go around saying that his was the biggest.