After losing the bidding war for Bwin-Party last week, 888 Holdings executive chairman Brian Mattingley remains confident on his company’s prospects in a consolidating industry, telling the Financial Times Monday that 888 will be making its own strategic acquisitions.
“We are not a target,” Mattingley told the newspaper. “We will do practical and strategic acquisitions particularly to build our sport betting.”
Our readers will recall that earlier this year 888 shareholders rejected an attempt to acquire the company by the William Hill group, which now faces more robust competition following the mergers of Ladbrokes-Coral, Amaya-Rational and Paddy Power-Betfair (see previous reports).
In the past Mattingley has acknowledged the reality of a consolidating industry, saying that his company intends to be part of the process.
“It is going to be a challenge,” Mattingley said in his FT interview. “We will rise to it. We will not be cast aside. We are not an also-ran and we are not a one-trick pony. We have proved that we have got the critical mass.”