Tag Archives: 888 Holdings

Regulatory headwinds – both current and forthcoming – were the biggest talking point in 888’s presentation and Q&A on 2022 and Q1 2023 trading results, after the firm declared net losses of £116m. Updating and answering queries from its LSE investors, 888 Chairman, Lord John Mendehlson, asserted that the international gambling group has ‘very clear priorities to deliver a leaner, …

888 Holdings has stressed that all compliance failures cited by the UK Gambling Commission (UKGC) in its £19.2m enforcement action against William Hill have been addressed. The LSE gaming group issued a statement this afternoon outlining that it had moved to improve and address William Hill’s shortcomings on social responsibility and anti-money laundering after finalising its £2bn acquisition of the …

888 Holdings has announced that London marketing agency Wavemaker will take charge of its +£40m media planning and buying account for all UK brands. In February, the LSE gambling group called for an agency pitch as part of its ongoing post-merger integration with William Hill. Wavemaker, which won the four-way pitch, has served as the incumbent agency for William Hill …

The Public Accounts Committee of Parliament has published 91 individual ‘written evidence’ responses submitted to DCMS in relation to the conduct of the Gambling Review. The responses were published on Tuesday, 21 March, providing diverse and conflicting opinions on the current state of UK gambling and its future regulatory approach.  DCMS launched its ‘committee inquiry’ on 22 December, 2022, “to …

888 Holdings has announced its most significant directorate change since the William Hill acquisition, seeing CEO Itai Pazner vacate his leadership position. The firm explained in an update this morning that Pazner, who has served as CEO since January 2019, will also step down as an Executive DIrector of the FTSE100 gambling group. As the company initiates a search for a …

888 Holdings has notified media that Phil Walker has been promoted to the ‘expanded role’ of Managing Director of its UK and Ireland business. Walker has formerly served as Managing Director of William Hill, overseeing the day-to-day performance of the heritage betting group’s online and retail units. The appointment sees Walker take on expanded duties, overseeing the performance and operations …

The high costs of the William Hill acquisition continued to drag 888 Holdings trading performance into the latter stages of 2022, as the company declared a year-end revenue of £1.85bn. Now including Hill’s 1,414 suite of UK high street betting shops in its post-close trading report, the group detailed a slowdown in both online and retail revenues across the year, …

888 Holdings has made its latest appointment following the takeover of William Hill, naming Anna Barsby as Chief Product and Technology Officer (CPTO). The new hire will focus on the integration of the 888 and William Hill businesses, in particular driving an improved customer experience and striving to achieve the upgraded synergies set out by the firm last week.  Announced …

888 Holdings has announced a new tactic in its debt redt reduction strategy by using its 888 Acquisitions Limited subsidiary. The international gambling group intends to market €200m in senior secured notes, consisting of Senior Secured Fixed Rate Notes due 2027 and euro-denominated Senior Secured Floating Rate Notes due 2028. Functioning as an offering exempt from the registration requirements of …

Acknowledging several new opportunities and challenges following the enlargement of its operations this year, 888 Holdings has published updated targets at its Capital Markets Day.. Having acquired William Hill’s non-US assets from Caesars Entertainment for £2.2bn in July, the company has noted emerging operating challenges, increased levels of debt exposing it to the impact of higher interest rates, and moderation of …