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Shops is likely to be closed, however 888 is still trying to find bargains in the wake of coronavirus. The London-listed company mentioned Wednesday it expects an acceleration of M&A activity in the US online gambling space thanks to the ongoing pandemic, with affected companies evaluating new options. CEO Itai Pazner inspired 888 investors to look forward throughout the FY19 outcomes presentation. “I do think corporations in situations less fortunate than ours - and even ones in stronger positions - will probably be launching new processes,” Pazner mentioned. It has additionally been less impacted by sports activities closures than some rivals, as sports betting made up just 16% of the company’s revenues in 2019. Meanwhile, poker and casino verticals have been boosted with a number of consumers pressured to stay house. Pazner said inorganic development was a key part of 888’s US technique. That could embrace acquisition of struggling smaller corporations as mentioned or partnerships with land-based mostly giants and media shops.
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