The gaming firm, 888, is divesting its Latvian operations to Paf, a fellow gaming enterprise, for a sum of €28.3 million (approximately $30.5 million). The transaction is anticipated to conclude shortly.
An initial substantial payment will be received by 888, with the remaining balance arriving in 2024. This divestiture enables 888 to concentrate on its more expansive markets and core strategic objectives. Although the Baltic region has not constituted a primary emphasis for 888, the company’s directors posit that this action will prove advantageous for both entities. Paf, renowned for its dedication to ethical gaming practices, expresses enthusiasm for augmenting its footprint in Latvia and perpetuating the heritage of the acquired brands, William Hill and Mr Green. Paf exudes confidence in its capacity to furnish an exceptional encounter for Latvian patrons.
Observed certain favorable shifts toward enhanced player safeguards within the Latvian landscape, a development that resonates strongly with Paf’s overarching approach.”
A Paf spokesperson recently engaged in a discussion with Gambling Insider regarding the prevailing regulatory environment for gaming across Europe.
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