Following further consolidation in the gambling industry, BetBright has been snapped up by 888Sport with the acquisition coming in at £15m.
What this new acquisition will mean for affiliate partnerships is yet to be seen, however with more upheaval in the industry, this is likely to have a knock-on effect.
The BetBright platform will be integrated into 888’s proprietary gaming backend, which will give the online gaming entertainment and solutions provider ‘complete ownership’ over its technology and product development across four key verticals – sport, casino, poker and bingo.
Through the acquisition, 888 is due to receive high-quality and scalable sportsbook technology from BetBright. In addition to this, the operator will also receive associated risk management, product and trading capabilities, which will support the long-term development of the successful 888Sport brand.
Itai Pazner, Chief Executive of 888, celebrated the new partnership: “This acquisition of a high-quality and scalable sportsbook is an exciting milestone for 888. It gives the Group the missing piece in our proprietary product and technology portfolio and will enable 888 to own proprietary, end-to-end solutions across the four major online gaming verticals.
“With 888Sport becoming an increasingly established and popular worldwide sports betting destination, we believe it is the right time to take ownership of our full sports betting proposition. We are confident that this acquisition will increase the Group’s long-term prospects and differentiation in the growing global sports betting market.
“The BetBright sportsbook has been developed by a fantastic team and is a high quality and scalable platform. Our new colleagues joining from BetBright will significantly strengthen 888’s sports betting expertise and industry know-how, and we are delighted to welcome them into the Group.
“This is the third acquisition that the Group has made in recent months and demonstrates the Group’s commitment to its strategy: to be a global leader in the online gaming market by driving organic growth across regulated markets, supported by value-accretive M&A.”
Announced by 888, the signing of an agreement by its wholly-owned subsidiaries for the acquisition of certain assets of Dedsert Limited and Dedsert (Ireland) Limited and its affiliates (together which form BetBright) for a £15 million fee.