Online Gambling Giant 888 Buys Wink Bingo
The online poker and casino mammoth 888 Holdings have coughed up £60m to buy popular online bingo company Wink Bingo.
Wink Bingo has a number of other Bingo sites within its network which includes Posh Bingo and Bingo Fabulous. The initial buy out was set to cost £11m but an earn-out is expected which would see the figure rise to just shy of £60m.
Wink Bingo reported a profit of £1.3 million over an 11 month period which 888 Holdings will be looking to drastically improve upon once they take over.
888 boss Gigi Levy said ‘We are delighted to announce the Wink Bingo acquisition as an expansion of our B2C online Bingo footprint in the lucrative UK market’.
Wink Bingo has made its presence well-known since launching in 2008 with a number of high profile TV sponsorship deals including Harry Hills TV Burp and Family Fortunes.
888 Holdings were previously linked to Cashcade who own Foxy Bingo but were beaten to the purchase by rival PartyGaming.