Struggling to pare down its debt, 888 Holdings announced last week that it withdrawing its sports betting product out of some states. The company has decided to focus on states that have online casino gaming in addition to sports betting, going for an “unsexy sweet spot” in the US gambling market.
888 acquired Caesars Entertainment’s non-US business for about £2.2 billion earlier this year and took on a ton of debt to do so. The company currently has around £1.6 billion in debt.
The US sports betting market is dominated by just a handful of companies… 888’s online sportsbook, SI Sportsbook, is barely a blip on the radar.
