Interactive

UK – 888 buys bingo brands including Costa Bingo, City Bingo and Sing Bingo

By Phil - 19 February 2019

888 Holdings has bought a portfolio of bingo brands from JPJ Group for £18m, including Costa Bingo, City Bingo and Sing Bingo, on a business-to-consumer basis.

“The acquisition will give the group full control of these successful brands from a marketing perspective to support and further strengthen the group’s position in the UK online bingo market,” the company said.

Of the £18m payable under the deal, £12m were paid on completion and the remaining £6m to be paid in September 2019.

JPJ said: “The divestment of Mandalay will enable the Group to concentrate on a more focused brand strategy
in the UK through Jackpotjoy, the market’s leading bingo-led brand and optimise the Group’s return
on its marketing investment.”

Mandalay consists of the real money operating results of various online bingo brands, including Costa Bingo, and all its bingo offerings operate on 888 Holding’s Dragonfish platform. Mandalay generated
approximately £11m of revenue and approximately £3.7m of profit before tax attributable to the assets in the twelve months to 31 December 2018.