888 Holdings’ chief executive has ruled out a merger with Rank Group as the company continues to grow the business with or without M&A.
UK.- Online gambling operator 888 Holdings has ruled out a merger with casino and bingo hall operator Rank Group. Both company recently failed to complete a £3.4 billion bid for William Hill.
888 Holdings and Rank were willing to merge with each other and then buying William Hill as part of a complex three-way agreement with the bookmaker. After William Hill dismissed the pair’s two offers, there has been speculation that 888 and Rank might still pursue a deal with each other.
“Right now the Rank standalone [deal] is not something that we’d like to do,” said Itai Frieberger, 888 Holdings’ chief executive. “We will continue to grow the business with or without M&A.”
888 Holdings has been involved in a number of unsuccessful mergers in the past, including failed approaches from Ladbrokes. Frieberger affirmed that whilst 888 Holdings would continue to talk to other companies about potential deals, it was not pinning its future on new mergers.