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It moreover acknowledged that the coming sale, which it expects to close by the end of next month following the completion of ‘an employee consultation process,’ is to involve an initial payment of ￡12 million (. 6 million) followed by the remaining ￡6 million (. 8 million) balance in September. Focus shift:For its part, Gibraltar-based 888 Holdings used its own Tuesday press release (pdf) to detail that the deal is to also involve it taking control of the online bingo domains at CityBingo. com and SingBingo. com before running these entities on a business-to-consumer basis. Taking control:Itai Pazner, Chief Executive Officer for 888 Holdings, declared that the acquisition will enable his firm to take ‘full control of these successful brands from a marketing perspective’ in order to further strengthen and support its overall position within the United Kingdom’s online bingo vertical.

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