888 has completed the sale of its Latvian business to Paf following the initial announcement of the deal in May.
The transaction is worth €28.25m (£24.6m), with Paf paying an initial €24m (£20.9m) upon completion.
A further potential earn-out of up to €4.25m (£3.7m) is payable in 2024 upon completion of the 2023 audited financials.
Lord Mendelsohn, executive chair of 888, said: “The sale of the Latvian business marks another positive step in the execution of our integration programme.
“This sale generates cash proceeds from a non-core market to support our deleveraging plans, as well as enabling reinvestment into our core and growth markets."
Paf CEO, Christer Fahlstedt, said after the initial announcement that the company is “convinced that the Latvian market is moving in the direction of increased player protection” and is therefore a “great strategic fit.”
