888 buys bingo portfolio for £18m
By Frank Prenesti
Date: Tuesday 19 Feb 2019
(Sharecast News) - Online gambling firm 888 said was buying a portfolio of bingo brands from JPG Group's Jet for £18m.
Jet has been a partner of Dragonfish, 888's bingo division, since 2009 with brands including Costa Bingo, City Bingo and Sing Bingo, the company said.
"The acquisition will give the group full control of these successful brands from a marketing perspective to support and further strengthen the group's position in the UK online bingo market," 888 said in a statement.
The purchase will be made in cash, with £12m paid on closing of the deal and the remainder in September 2019.
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