It seems there is some good news on the way for 888. Their shares jumped 18.4pc when it was made public there had been a second takeover move by Ladbrokes on the online casino.
Nick Batram from Peel Hunt is one of the experts who is downgrading the whole deal stating that 888 had seen enough problems four years ago that the shareholders at Ladbrokes could possibly question the entire takeover attempt.
On the other side of the coin, Merrill Lynch is looking at the deal in a positive way stating it would incorporate one of the leading UK sportsbooks and an online casino of equal value. The combined business earnings would be £350m and Merrill Lynch recently reported the deal would make a lot of sense. They also pointed to the fact they think the deal is a good geographic mix that would benefit both parties involved.
Still there have been a few bad days for 888 including the episode where they needed to scrap their dividend to save money for other deals after their profits dropped by more than half in six months. This misfortune occurred when they were hammered by the World Cup and other financial problems in Europe.