The gaming giant, 888, is divesting its Latvian operations to fellow gaming firm, Paf, for a sum of €28.3 million (approximately $30.5 million). The transaction is anticipated to finalize in the coming weeks. An initial payment of €24 million will be made by Paf, with the remaining balance due in 2024.
This divestiture allows 888 to concentrate on its larger, more lucrative markets. Although 888’s brands, including William Hill and Mr Green, enjoy popularity in Latvia, the region does not constitute a significant element of 888’s overarching strategic plan.
Paf expresses enthusiasm for assuming control of the Latvian enterprise and intends to maintain the provision of excellent service to its clientele in the region.
Weve witnessed a movement in Latvia toward enhanced gambler safeguard protocols, which harmonizes seamlessly with Paf’s fundamental principles and planned trajectory. This renders the Latvian marketplace highly appealing to an organization of our nature.”
In a recent dialogue with Gambling Insider, Paf provided insights into the prevailing state of gaming governance throughout Europe.
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