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888 Acquires Wink Bingo for nearly £59.7m
| 2009-12-23
A spokes person for the 888 group, owners of 888 Ladies and other gambling sites, announced yesterday that they are to acquire one of the more successful bingo online bingo sites operating today – Wink Bingo. According to 888’s statement, £11m will be paid in cash to Wink Bingo’s current owners, Daub LTD, and the rest will paid as percentage of performance until March 2011, to a sum of £59.7m.
Wink Bingo was only launched in 2008, but has shown amazing growth over the past two years and currently serves over 60,000 active players, mainly due to very good site design and original online bingo promotions used to attract new customers, like their annual Mini Cooper giveaway on New Year’s.
The Wink Bingo site continued to offer a £15 no deposit bingo bonus to new members ever since its launch, which acted as a very big attraction for new players to register to the site and helped wink Bingo to achieve such a large market share at such a short period of time.
Wink Bingo’s success can also be attributed to their constant exposure on TV with ads and prime time sponsorships, like their recent collaborations with The Harry Hill show and The Cube on ITV.
With this transaction, 888 are hoping to increase their market share in the online bingo market and put more focus in the bingo market, competing with the big industry brands like Mecca Bingo and Gala Bingo – the latter holding about 15% share of the online bingo market.
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