888 Holdings has reportedly rebuffed a takeover offer by Playtech, valued at some GBP700 million ($884.3 million).
The company, according to media, rejected the offer initially proposed in July as it felt it was undervalued.
The company acquired William Hill gaming group in 2022 for nearly GBP2 billion, while 888 is believed to have held early talks with DraftKings over an acquisition earlier this year.
The group has suffered in the stock market this year, with shares dropping in the double-digits, however interest in the company has not waned.
888 Holdings acquired William Hill in 2022, adding to its portfolio which includes Scandinavian bookmaker Mr. Green and a joint venture with Sports Illustrated.
Speculation is rampant that Playtech would integrate 888’s brands with its own Italian betting provider Snai, potentially spinning off the business as a separate entity.
