888 targets bingo potential with Wink deal

888, the online gaming operator, has acquired Wink Bingo in a deal worth up to £60m ($96m). 888 wants to strengthen its position in the UK market and in August was outbid by rival PartyGaming for Cashcade, another bingo company.

The deal will cost £11m upfront with the rest tied to profits in the period to March 2011. Wink Bingo was launched less than two years ago but already has 60,000 players, making it one of the most popular internet bingo sites.