Permira PE eyes potential 888 Holdings acquisition

money

Financial news sources report that European private equity firm Permira is considering a bid for 888 Holdings

The Wall Street Journal Online (WSJ), reports that Permira appear to be interested to make an acquisition in the online gambling sector, due to upcoming changes in licensing and the introduction of new tax regimes throughout European markets.

Permira reports to have €20 billion in invested capital funds, the private equity firm has made  several investments in technology, communications and media companies. (http://www.permira.com/sectors/7/TMT)

Financial news reports suggest that Permira is intent to invest in the igaming sector, due to the legal clarity which will proceed the regulation of the sectors markets. The regulation of igaming markets should in-theory make it easier for the firm to predict future earnings, and create more long term stable/sustainable revenue channels.

888 Holdings is listed on the London Stock Exchange, and currently has a market capitalization of about £450 million ($748 million). The operator reported profit before tax of $53.2 million for the year ending December 2013, on revenue of $400.5 million.

Permira have invested before in gambling operators, having bought equity in sports betting and bingo operator Gala Coral Group.

 

 

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