888 to Sell US Business to Hard Rock Digital

Betting operator 888 Holdings has reached an agreement to sell its US-facing business to Hard Rock Digital, exiting the market after conducting a strategic review of its operations.

The terms of the purchase haven't been disclosed, and it is subject to regulatory approvals. The company says that it believes that the sale will be completed in stages and wrapped up in the fourth quarter of this year. The company currently operates the Sports Illustrated sportsbook brands in the states of Colorado, Michigan, New Jersey, and Virginia, and also offers its 888casino brand in New Jersey.

888 has struggled in the US market, as they noted that profit margins are lower than in other areas they operate. The company says this is due to licensing fees, high competition, and other large costs.

This move will allow 888 to have a measured exit from the market, giving an annual EBITDA benefit of £25 million.

We'll update readers as details on the purchase are made public.

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

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