888 Finalises Sale of Latvian Assets

Betting group 888 has announced that they've finalised the sale of their Latvian business to Paf for €28.3 million.

The two groups came to an agreement to sell the business just weeks ago, with Paf paying €24 million up front, with €4.3 million being paid out in 2024. The business currently operates with branding of 888's Mr Green and William Hill, which will continue for a period of time.

The move comes in a year of transition for 888, whose CEO Itai Pazner resigned his position. The company also admitted to multiple anti-money laundering and know your customer breaches for specific customers from the Middle East.

Regarding the sale, 888 Executive Chairman Lord Mendelsohn said, "The sale of the Latvian business marks another positive step in the execution of our integration programme.

"This sale generates cash proceeds from a non-core market to support our deleveraging plans, as well as enabling reinvestment into our core and growth markets."

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About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.


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