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888Sport acquires Bwin.party Digital Entertainment

Sportsbook 888Sport (SBR rating B) has agreed to acquire Bwin.party Digital Entertainment for the massive price of $1.4 billion in cash and shares.

Bwin.party had been on the market since the end of last year.

London investors were quick to react to the news as the shares of 888 grew by more than 3 percent. 

Bloomberg.com quoted financial analyst Karl Burns of Panmure Gordon in London as having the following to say concerning this deal:

“The acquisition is likely to be significantly value accretive for shareholders. The combined group is likely to be highly cash generative, potentially allowing for future shareholder returns.” – Analyst Karl Burns of Panmure Gordon

888 Holdings PLC is known to Sportsbook Review readers for being the company which owns 888Sport. SBR detailed 888’s recent exit of the Portugal market in a newswire last week.