SBC News Voice of the Sports Betting Industry
Speaking to the Daily Telegraph 888 CEO Brian Mattingley has stated that company governance is on the lookout for potential acquisitions to boost its sports betting division and to replace lost earnings caused by Point of Consumption (POC) duty impacts.
Mattingley who had turned down an acquisition offer from William Hill at the start of 2015, had on Tuesday announced ‘another record breaking year’ for 888 with the operator reporting growth on all top line metrics.
Mattingly who will be promoted as the operators Executive Chairman in 2015, revealed that a potential competitor acquisition or merger with rival would be supported by 888 major family owned shareholders.
At present, 888 is controlled by the Avi Shaked family who own 48% and the Ben-Yitzhak family, who own around 10% of the firm. Avi Shaked representatives are understood to have ended acquisition talks with William Hill in January after declining the proposed 200p-a-share takeover.
Mattingley supported the actions of the majority shareholders by stating that 888 majority owners where not “natural sellers for cash”. The Shaked and Ben Yitzhak families would rather support the company’s growth as a consolidator preferring an all-share merger with a competitor than a buyout of its business.
