Simion & Baciu, working with Wiggin in the UK, has advised Broadway Gaming subsidiary Saphalata Holdings on its USD 50 million acquisition of the bingo business from 888 Holdings. Israel's Herzog Fox & Neeman advised the seller.
Closing is expected in the second quarter of 2022, pending regulatory approval.
Broadway Gaming is a bingo and casino industry company, operating since 2010.
Established more than 20 years ago, 888 is a London Stock Exchange-listed online gaming entertainment company. The company has offices and subsidiaries in Israel, Gibraltar, Romania, Antigua, the US, and the UK.
"The high-quality bingo business has been an important part of 888’s history, driven by an incredible team of dedicated professionals," 888 announced. "We are confident that the future is bright for both the bingo business and its team, as part of this pioneering bingo powerhouse. We remain focused on growing our key product verticals of casino, sport, and poker, as we continue on our mission to be one of the world’s leading online betting and gaming businesses."
The Simion & Baciu team was led by Managing Partner Cosmina Simion and included Lawyer Luminita Dima.
The Herzog Fox & Neeman team was led by Partner Ory Nacht and included Partners Hanna Bilavsky, Daniel Lipman Lowbeer, Moria Tam-Harshoshanim, and Jenia Melkhior.
