International online gambling operator 888 Holdings plc is selling off some of its United States assets to Hard Rock Digital for an undisclosed sum of money.
The deal with Hard Rock comes on the heels of 888 ending its US-based online sports betting partnership with Sports Illustrated’s parent company, which was announced last month as part of a strategic company review.
888 expects to complete the sale of its US consumer-facing operations to the Seminole Tribe-owned Hard Rock Digital by the end of 2024. Playtech, which made a bid for 888 in 2023, is a minority owner of Hard Rock Digital.
NJ online casinos, sportsbook not impacted by deal … yet
The deal between 888 and Hard Rock Digital will not have any immediate impact on New Jersey online casinos or NJ sportsbooks. New Jersey is the only state where 888 Online Casino was available in the US. In addition to NJ, 888 Sportsbook is active in Colorado, Michigan and Virginia.
According to a press release, 888 anticipates a recurring annualized benefit to its adjusted core profit of about $31.5 million, beginning in 2025. In the same news release, 888 said it expects to incur about $50.7 million in costs to terminate existing contracts and licensing deals in the US.
The London-based online gambling operator still owns the 888 brand — which has considerable name recognition overseas — as well as William Hill and Mr. Green. 888 Holdings plc recently announced it would be rebranding as Evoke plc.
As confirmed by Bonus, WSOP NJ is not included in the deal.
More details on Hard Rock in Jersey, elsewhere
HRD already operates an online casino and online sportsbook in NJ: Hard Rock Bet. It went live in 2023, replacing a previous HR-branded product.
Hard Rock Bet operates in NJ under the license of Hard Rock Hotel & Casino Atlantic City. The Seminoles and a handful of NJ businesspeople jointly own the Boardwalk casino.
Hard Rock Bet is also available in Tennessee, Virginia, Arizona, Indiana and Ohio. In Florida, Hard Rock Bet is the only online sports betting platform.
