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Ladbrokes Acquisition Of 888 Imminent

Business, 2007-01-15, by TwoGun

Ladbrokes and 888 have been in buyout talks for several months. The takeover is largely a result of the Unlawful Internet Gambling Enforcement Act, which resulted in 888 ceasing to accept bets from American residents. Ladbrokes has always restricted US citizens from playing at its site.

The agreement between the two companies would have Ladbrokes acquire all of 888's assets, including its software, customer bases, and websites. Ladbrokes would not technically acquire the 888 company itself, in case 888 receives legal action from the US since it used to accept American bets.

The deal is estimated to be worth £440 million.

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