888 Holdings seeking to capture the sports betting market through mergers and acquisitions

888 Holdings is among the gaming companies that are eager to make acquisitions to capture the market. On Wednesday, 888 Holdings CEO Itai Pazner confirmed that the operator may be seeking deals soon.

888 Holdings was founded in 1997 and previously gained exposure to the US market through an agreement with the Delaware Lottery. 888 Holdings also operates the World Series online poker platform for Caesars Entertainment.

However, the company is known for moving into sports betting. 888 Holdings has reached an agreement with Sports Illustrated to use the sports magazine’s name in sports betting. There are also rumors that the Gibraltar-based 888 will be among three suitors for William Hill’s international assets.

Caesars Entertainment (NASDAQ: CZR) is auctioning off the companies and is expected to name the winning bidder in its fourth-quarter report. If the 888 bid for William Hill’s assets wins, the operator will significantly strengthen its reach in Europe.

According to an investor presentation, 62 percent of 888 Holdings’ revenues are generated in the UK, Italian and Spanish markets. However, 888 is expected to be operational in 15 U.S. states by 2024 and boast a 5 percent share in those markets.

However, Pazner did not disclose which specific companies 888 Holdings intended to acquire. The company has a history of acquisitions. Instead of large and expensive acquisitions, in 2019 the company made two small transactions.