888 Holdings purchase Wink Bingo

It has been announced that online bingo operator 888 Holdings have purchased Wink Bingo from Daub Ltd for nearly £60 million.

888 Holidings are the owners of popular online bingo site 888ladies and have certainly been quiet about their intentions to buy Wink Bingo. It is understood that the deal involves and initial payment of around £11 million, with other payments made depending on the performance of the site.

Since its launch in 2008 Wink Bingo has become one of the most popular online bingo sites around, and has expanded its presence to TV by sponsoring shows such as Family Fortunes, The Cube and Harry Hill's TV Burp.

888 Holdings Chief Gigi Levy told ShareCast.com: "We are delighted to announce the Wink Bingo acquisition as an expansion of our B2C online Bingo footprint in the lucrative UK market. The transaction is financially attractive and will be earnings enhancing".

It is not clear what the future plans are for Posh Bingo and Bingo Fabulous, which are also owned by Daub Ltd. These may or may not have been part of the deal.

Earlier this year 888 Holdings were linked with a takeover of Cashcade (owners of Foxy Bingo) but were beaten off by PartyGaming.

Author: Peter Short

Article Copyright ©
22nd December, 2009 WhichBingo.co.uk

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