888 agrees to flog US assets ahead of consumer-facing exit
888 Holdings is offloading some assets in the US to milky way online casino sports betting and interactive gaming group Hard Rock Digital ahead of plans to exit consumer-facing operations in the country.
The sale of the ailing unit is expected to boost adjusted earnings before nasties by £25million each year from 2025 onwards, £10million of which will be reinvested into 'growth and value-creation initiatives', the William Hill owner told investors.
888 said the deal would probably close in the fourth quarter of this year, and result in one-off cash costs of £40million.
Deal: 888 Holdings is offloading its B2C operations in the US to Hard Rock Digital
888 shares rose over 4 per cent early on Thursday, before resting up 0.45 per cent or 0.4p to 88.90p, having climbed over...