|Online gaming giant 888 has admitted that it was still open to a takeover bid by bookmaker Ladbrokes, despite the disintegration of talks between the two companies.|
The announcement came after the news of the company’s 34 percent rise in pre-tax profits to $90.5m (£45.3m). This figure incorporates the US business the company was forced to terminate as a result of US anti-gaming laws. Excluding that profits hit $22.2m.
‘The potential [for a deal] is still there. The logic is still there. If they come back with a decent proposal we are always open to discussions but this is not going to happen anytime soon and we have been performing very well,’ said 888’s Chief Executive Gigi Levy.
Levy explained that ongoing talks with Ladbrokes were stalled by the Bookmakers ‘conservative’ view of regulation, and the company’s reluctance to become embroiled in regulatory issues relating to the now defunct US arm of 888's business.
888’s CEO also reiterated the gambling firm’s continued plans for expansion: ‘We want to look at things that will expand our product portfolio and give us reach into sectors we are not covering.’