The gaming and wagering firm, 888, is divesting its Latvian operations to Paf, a fellow gaming enterprise, for a sum of €28.3 million (approximately $30.5 million). This transaction is anticipated to reach completion in the near future.
The divestiture aligns with 888’s strategic objective of concentrating on its primary markets and offloading assets that do not substantially contribute to its expansion. 888 will obtain the majority of the payment upfront, with the residual amount expected in 2024.
Through a licensing arrangement, Paf will acquire control of the William Hill and Mr Green brands within Latvia. Both 888 and Paf express confidence that this shift will be seamless and advantageous for patrons in Latvia.
At a distance, it appears Latvia is transforming into a more advantageous sector for gaming businesses such as Paf, a development that corresponds with our own planned objectives.
A recent discussion between Gambling Insider and Paf centered around the present condition of European gaming legislation.