Itai Frieberger
Having mentioned a 'record breaking' earnings performance for its H1 2016 consequences, the governance of 888 Holdings (888) has disregarded industry rumours of a potential merger with Rank group (Rank).
Following the failure of a Rank-888 joint consortium takeover bid for William Hill valued at £3.4 billion, the betting industry has been rife with rumours of a possible + £1.6 billion tie-up between Rank and 888.
youngsters, 888 CEO Itai Frieberger moved to dismiss the speculation the day past, telling UK news sources that at latest his firm might standalone.
"888 will proceed to develop its business with or devoid of M&A" Frieberger argued. "at this time the Rank standalone [deal] isn't some thing that we'd find irresistible to do,".
Frieberger's merger rejection follows remaining week's information that Rank governance noticed motive in doubtlessly merging its belongings with 888.
In a sector that has witnessed mass consolidation and M&A activity, trade analysts cling 888 Holdings as probably the most ultimate remaining jewels. The FTSE-250 operator has proven to be knowledgeable in building unbiased in-condo gambling structures for online casino, poker and bingo.
With on-line gambling organizations dealing with greater operational prices and tax prices, in-apartment know-how development has turn into popular competency for M&A hungry playing operators.
