888 Shakeds’ gain £108 million in family share sale

The Shaked Family the largest shareholders in 888 Holdings, have earned a reported £108 million by selling 40 million shares in the FTSE250 listed online gambling group.

The family executed its share sale last week at a value of £2.70 per share and will see the combined Shaked shareholding reduced to 37% of equity.

Israeli business news sources report that the sale was conducted following 888 Holdings share price reaching an ‘all-time high’ in value of £3.00.

The share sale, may well lead to further speculation of the Shaked family seeking a sale or merger of 888 assets. The FTSE-listed operator is considered an attractive proposition for bigger gambling groups seeking to expand assets and territories.

888 is currently being investigated by the UK Gambling Commission for compliance breached relating to its mandatory self-exclusion policy across its gaming platforms.

Shaked family representatives made no official comment on the purpose of the share sale. Shaked Family members are renowned investors in new technology and Philanthropic initiatives.