Online bingo acquisitions for 888 Holdings

888 Holdings plc announced they entered in the bingo market acquiring Globalcom, for a total cash consideration of over $30 million. Globalcom generated in 2006 a profit of $5,5 million and operates a newtwork of 45 online bingo rooms including Bingoballroom.com, UK-Bingo.net and Bingofabulous.com.

E-gaming review reported that this acquisition is expected grow the earnings for 888 in the current year, and last year the Belize based company generated a turnover of $11.3 million.

Gigi Levy, 888's CEO, commented: "This acquisition is a very important step forward for diversifying our products. Bingo is a valuable addition to our entertainment services, and we expect to expand our customer base worldwide".

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