888 gets green light to buy Wink Bingo

Online gaming firm 888 today announced plans to buy internet rival Wink Bingo for up to around £60m (€67.1m) as it looks to step up its UK presence in the sector.

Pacific Poker owner 888 said the deal would see it pay Wink’s current owners, Daub, a base price of £11m (€12.3m), plus a sum based on earnings in the year to March 2011, with the total capped at £59.7m (€66.8m).

Chief executive Gigi Levy said the acquisition would help 888 expand its online bingo footprint “in the lucrative UK market”.

The firm also issued a trading update and said it was confident of meeting management expectations for the full year.

Wink, which runs online bingo networks including Wink Bingo, Posh Bingo and Bingo Fabulous, had over 60,000 active players in October this year, which 888 said made it one of the most popular online bingo sites.

Its sites already operate through 888’s Dragonfish bingo platform.

The firm said completion of the deal was dependent on certain factors, including obtaining the required consents.

Wink, which was launched in early 2008, generated revenues of £15m (€16.8m) and pre-tax profits of £1.3m (€1.5m) in the 11 months to November 30 this year.

In August, 888 reported pre-tax profits of $14.9m (€10.4m) in the six months to June 30, compared with $26.3m (€18.4m) in the same period last year. It said the half-year performance was solid against the background of weak consumer sentiment and volatile currency movements.

More in this Section

Three months that shook global marketsThree months that shook global markets

Surge in consumption of media amid COVID-19 crisisSurge in consumption of media amid COVID-19 crisis

Cork energy company aiming for 2026 start date for offshore windfarmCork energy company aiming for 2026 start date for offshore windfarm

Kieran McQuinn: EU must learn from 2007 policy mistakesKieran McQuinn: EU must learn from 2007 policy mistakes


It’s 25 years since Toy Story first stunned us with its brilliance. Esther McCarthy looks back onJohn Lasseter’s masterpiece and why it’s regarded as a milestone of modern cinemaInfinity and beyond: How Toy Story altered movie history

All the wines recommended this week are available for delivery.Wine with Leslie Williams: Looking for a wine delivery service? Here are a few ...

Cystic Fibrosis is a difficult condition to manage at the best of times. Helen O’Callaghan talks to Jade Needham about managing it in lockdownCoping with Cystic Fibrosis during a crisis

Consumer advice with  Gráinne McGuinnessMaking Cents: Switching makes sense for all your household bills

More From The Irish Examiner