Exit OSB euphoria, pursued by a bear
Now we know what a bear market feels like once again. The falls suffered across the wider market on Friday and then again on Monday are a reminder that all bull markets – eventually – come to an end. All things must pass, even irrational exuberance. Or should that be, especially irrational exuberance? The financial […]
Germany and Netherlands dog 888
888 trading update The top line Revenues rose 7% (+3% on constant currency) YoY to $229.9m; gaming revenues were up 11% to $193.5m, sports betting was down 15% to $26.8m. B2B revenues were up 4% to $9.6m. YTD revenues were up 28% to $758.3m, with B2C gaming up 27% to $622.3m and B2C betting up […]
Say it quietly – 888’s U.S. avoidance tactics
888 made all the right noises last week about its U.S. ambitions, even as the deal to conduct a reverse takeover of William Hill points in a very different direction. All the usual cliches about action speaking louder than words and what a company doesn’t say being as important about what they do say can […]
Catena buy i15 Media
On tick: Catena Media has moved once more to bolster its US presence via the acquisition of the online betting and casino sites of i15 Media for $45m, with $12.5m paid on closing and the rest – including $12.5m of new Catena shares – paid in instalments. Among the portfolio of more than 100 sites […]
888 confirms William Hill buyout
The top line 888 will pay Caesars Entertainment £2.2bn ($3.04bn) for the entire William Hill international business. The buyout will be funded by £1.64bn of new loans, a £150m revolver facility and via a £500m right issue. 888 will also take on £0.8bn of William Hill debt. In 2020 the combined business would have had […]