William Hill owner 888 Holdings PLC has agreed to sell selected assets to Hard Rock Digital as it disposes of it US business-to-consumer wing.
This will likely be completed in phases up to the fourth quarter of this year, as 888 looks to fully exit from the US by the end of 2024.
“The exit of US B2C operations is expected to realise a recurring annualised benefit to adjusted EBITDA of approximately £25 million from 2025 onwards,” a statement read.
“The group intends to reinvest approximately £10 million of these savings into growth and value creation initiatives.”
A £40 million net impact is set to be incurred from the disposal of its US assets, which 888 added had already been included in financial targets.
Shares dipped 1.7% to 87p.