888 acquires All American Poker Network
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888, the Gibralter-based gambling company has completed the acquisition of the All American Poker Network (AAPN). The company bought the remaining 53 per cent shares for a sum of US$28m, which was paid through its US subsidiaries.
The acquisition will allow the group to have completely independent control of its growth strategy in the USA and form suitable strategies to exploit the regulation changes in US states regarding sports betting.
Itai Frieberger, chief executive of 888, said: “The acquisition of the remaining stake in AAPN is an important strategic step towards 888 achieving its exciting long-term potential in the US.”
“Taking outright ownership of AAPN gives 888 additional operational, technological and commercial flexibility to develop innovative and exciting new partnerships and launch in new states – through both B2B and B2C channels – as and when future regulation allows. This acquisition places 888 in an even better position to take advantage of the significant growth opportunities in the US and create additional value for our shareholders.”
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