The online gaming industry could also be at the verge of another multi-million operation, because the private equity group Permira is reportedly in negotiations to procure 888 Holdings.
Although the 2 companies haven't issued any official statement yet, rumors about ongoing negotiations were reported by the Wall Street Journal and The Independent.
Quoting people reported to be acquainted with the situation, the WSJ wrote, "British private-equity firm Permira sees the net gaming company as a possible target and will consider a bid itself."
Two of the folk questioned by the financial newspaper explained, "Permira is actively 888, though any interest is preliminary."
The news regarding Permira's interest in 888 Holdings came right the similar day when the non-public equity firm announced it was within the process to dump some €850 million worth of shares in German fashion house Hugo Boss, an organization it spent €5.3 billion on a controlling stack in 2007.
According to the WSJ, Permira's interest within the parent company of online gaming and betting sites as 888poker, 888casino, and 888sport is motivated by the point of view to sign up for a lucrative market that has finally been stabilized with the introduction of the UK Gambling (Licensing and Advertising) Bill.
"A new licensing and tax regime for online gaming within the UK is clearing the air across the sector," the WSJ wrote. "And this makes probably the most industry’s biggest players, 888 Holdings PLC, a possible buyout target."
This, however, isn't the first time that other companies set their eyes on 888 Holdings, as back in 2011 Ladbrokes was reportedly taken with taking control of 888.
Should the negotiation result in a takeover, 888 would become the third major online gaming company to be taken over within the last four months. Earlier this year, Amaya Gaming inked a $4.9 billion deal to take control of the Rational Group, and in July Italy's lottery giant GTECH bought Las Vegas-based slots producer IGT for $6.4 billion.
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