888 Holdings, a prominent entity in the online gaming industry, is divesting its Latvian business to Paf Consulting Abp, commonly recognized as Paf, for €28.3 million (approximately $30.5 million USD). The transaction is anticipated to finalize shortly.
This action is logical for 888, as their Baltic presence was comparatively limited. They are concentrating their efforts and assets on more significant prospects. Conversely, Paf is eager to broaden its reach in Latvia. They will initially procure 90% of the enterprise, with the remaining disbursement occurring in 2024.
Noteworthy is Paf’s ability to retain usage of the established William Hill and Mr Green trademarks in Latvia temporarily, facilitated by a licensing arrangement. This grants them an advantage by capitalizing on existing brand familiarity.
Both 888 and Paf appear positive regarding the future. 888 can optimize its operations and prioritize key markets, while Paf secures a firmer position in an expanding market. It represents a mutually beneficial outcome for both organizations.
Held a great deal of hope for Latvia’s dedication to ethical gambling practices. Their evident progress toward enhanced safeguards for players aligns seamlessly with the fundamental principles upheld by Paf.
In a recent dialogue with Casino Inside magazine, Paf delved into the prevailing state of gambling regulations across Europe.
