888 Holdings has reached an agreement to sell its Latvian business to Finnish gaming operator Paf for €28.3 million.
Paf says it expects the deal to close in the coming weeks, giving them full control of William Hill and Mr Green’s operations in Latvia through the WilliamHill.lv and MrGreen.lv domains.
Both brands reportedly hold 10% market share in the country and in 2022 achieved net revenue of €10.47m and EBITDA of €2.8m.
As part of the deal, 888 Holdings will grant Paf a temporary license to use the William Hill and Mr Green brands, allowing the brands to continue to operate in the market.
Upon completion of the merger, Paf will be the third largest gaming company in the Latvian market.
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