888 to sell US consumer business to Hard Rock Digital

888 Holdings has completed the review of its consumer business in the United States with a deal to sell its assets to Hard Rock Digital.

The company said Thursday (28 March) that it has agreed a deal to sell selected US B2C assets to Hard Rock Digital, although it did not elaborate on the assets included in the deal, or the value of the transaction.

The sale is subject to relevant regulatory approvals, among other closing conditions, and is expected to complete in the final quarter of this year.

Hard Rock Digital, in which Playtech holds a minority stake, is the interactive gaming and sports betting arm of Hard Rock International and Seminole Gaming.

Playtech has previously been rumoured to be in talks to acquire all of 888.

The sale of the US assets is expected to deliver a recurring annualised benefit to 888 of approximately £25 million in Adjusted EBITDA from 2025 onwards, with approximately £10 million of these savings to be reinvested by 888 into growth and value creation initiatives.

888 launched a review of its US business earlier this month after terminating its license deal to use the Sports Illustrated brand for online betting and gaming in the United States.

Shares in 888 Holdings plc. (LSE:888) closed at 88.50 pence per share in London Wednesday.