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888 Holdings announced in an official statement in February this year the acquisition of a portfolio of online bingo brands, including the very popular English brand Costa Bingo. This transaction further strengthens 888's position in the UK online bingo market, giving the company full control over this and several additional brands.

The transaction was closed for 18 million pounds between 888 and Jet (Jet Management Group Limited and Jet Media Limited), which is part of a group of companies led by JPJ Group plc, which owns the Jackpotjoy brands. 12 million will be paid at the end of the transaction, while the remaining 6 million will be paid in September 2019.

Here, it is worth mentioning that the 888 Group is structured in two business lines: B2C (business-to-customer), led by the brands of 888 ( 888 Casino , 888 Poker and 888 Sport), and B2B (business-to-business) driven by Dragonfish, which offers a top-notch platform on which businesses can build their online presence and monetize their own brands.

Jet has been a partner of Dragonfish since 2009, operating brands that include Costa Bingo, City Bingo and Sing Bingo. By acquiring Jet's bingo brands, 888 Holdings leads as one of the leading bingo providers in the UK. The acquisition gives the company full control of these and other brands. Previously operated as business-to-business (B2B), 888 will henceforth operate them as business-to-customer (B2C).

CEO of 888 commented

In an official statement, Itai Pazner, current CEO of 888, commented on the importance acquisition:

The company continues to fulfill its expansion strategy in the regulated gambling markets. This expansion is being underpinned by organic growth initiatives, supported by the exploration of value-added mergers and acquisitions.

We are pleased to announce the acquisition of this portfolio of brands which include the successful Costa Bingo. Having been developed on Dragonfish, the 888 Group's high-level B2B platform, we are confident that adding these brands to our current B2C portfolio will provide opportunities for growth, applying the full extent of 888's execution capability in product management, marketing and customer relationship.

CEO, Itai Pazner, 888 Holdings

888's mission has been to provide its users with innovative, high-end gaming products in a secure environment. The company has been at the forefront of the gaming and betting industry since its founding in 1997, offering a superior gaming experience to B2B players and affiliates.

At the heart of 888's business is its unique technology and associated platforms. The Group operates in New Zealand through 888 Casino, 888 Sport and 888 Poker. Check out our reviews of the sites to learn more about them.