One in six BetBright workers face threat of job loss following takeover
New owner 888 pledges to retain majority of jobs at Irish-based bookmaker
Lostintranslation ridden by Robbie Power (left) jumps with Defi Du Seuil ridden by Barry Geraghty in the Betbright Dipper Novices’ Chase at Cheltenham in January. Photograph: David Davies/PA Wire
About 16 of more than 100 BetBright workers could lose their jobs as a result of the Irish-based bookie’s takeover by global gambling group 888.
London-listed 888 recently confirmed that it was buying BetBright’s owner, Dedsert, which is headquartered in Dublin, but regulated in the UK, for €17.5 million.
It is understood that the deal will result in the loss of a number of jobs at the Irish business, but its new owner pledged yesterday that it would retain the majority of workers.
Sources say that about 16 of more than 100 jobs will go as a result of the deal. 888 has begun consulting with BetBright staff – which it is obliged to do – since it announced the takeover earlier this month.
BetBright’s new owner indicated in a statement that it ultimately intended expanding the Dublin operation.
“Following the acquisition of Dedsert announced on March 4th, 2019, 888 plans to retain a significant majority of BetBright employees and intends to further invest in the Dublin office,” the company said.
888 bought BetBright for its sports betting business – that is racing, football and so on.
The London-listed company offers poker, casino games, bingo and sports betting to its customers. However, until it bought BetBright, it did not own sports-betting technology or employ staff in this area, buying it in on contract instead.
The BetBright deal means that 888 now has its own sports-betting technology and staff. The company hopes to expand this business over time.
When 888 announced that it was buying BetBright two weeks ago, chief executive Itai Pazner said the transaction gave his group the “missing piece” of its portfolio.
Gibraltar-based 888, which was founded by two sets of Israeli brothers, is listed on the London Stock Exchange and owns several gambling brands and websites, including 888casino and 888poker.
The BetBright deal was the third acquisition 888 had made in recent months. The company says it wants to become a global leader in online gambling by growing its existing businesses and buying companies that boost its value.