Tag Archives: 888

888 recruits Ben Hurst to lead North American growth projects 

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888 Holdings has confirmed the appointment of Ben Hurst as Vice President of North American Expansion.  Hurst will be charged with overseeing North American strategic growth opportunities for 888 as well as the SI Sportsbook and SI Casino brands, as part of a US partnership with Authentic Brands Group.  A seasoned US sports executive, Hurst has formally served as the …

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888 begins long turnaround as merger pains amount to £115m loss

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The board of 888 Holdings has vowed to return the business back to shareholder growth by implementing a new corporate strategy prioritising capital efficiencies and debt reductions.     This morning, the LSE gambling group posted a jam-packed full-year 2022 trading results alongside a Q1 2023 update outlining new corporate measures to optimise its enlarged business incorporating William Hill. FY2022 group revenues …

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Gibraltar Gambling Commissioner stands by 888 licence

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The Gibraltar Gambling Commissioner (GGC) has taken regulatory lead on the compliance failures disclosed yesterday by the board of 888 Holdings Plc. AML and KYC failings were notified to the GGC, the regulator in which 888 holds its operating licence and resides its headquarters.    Issuing a statement, the Gibraltar Commissioner said it would be “reviewing and discussing the outcome of …

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Lord Mendelsohn leads dicey search for new 888’s new CEO  

SBC News Lord Mendelsohn leads dicey search for new 888’s new CEO  

The Board of 888 Holdings has agreed to maintain Yariv Dafna as Chief Financial Officer (CFO), who will no longer depart the company on 31 March, 2023. The decision was disclosed to the London Stock Exchange (LSE), further to this morning’s announcement that CEO Itai Pazner had resigned from all executive duties. Shares have plummeted by approximately 20% in the …

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Year in Review: Breakneck 2022 sees global gambling face the unknown 

SBC News Year in Review: Breakneck 2022 sees global gambling face the unknown 

The narrative that gambling would see a ‘return to normalised trading’ was short-lived by 2022’s rude awakening, as once more, business was forced to adjust to the realities and concerns of a globalised world.  2021 ended on the unsatisfactory note that the UK government had failed to deliver its White Paper of gambling reforms, which would be delayed to the …

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888 hedges debt in spite of dire UK economic outlook 

SBC News 888 hedges debt in spite of dire UK economic outlook 

The board of 888 Holdings has provided a group financing update alongside its Q3 2022 trading results, published this morning. Enlarging its business by acquiring William Hill UK and International units, 888   carries a long-term debt structure across instruments with maturities ranging from five-to-six years. The FTSE250 operator announced that it had entered a “series of hedging arrangements” to fix …

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888 burnt by costly summer as group enters new debt arrangements to soothe 2022 targets

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888 Holdings maintains a confident year-end outlook as its enlarged business continues to adjust to enhanced UK online player safety measures and its temporary withdrawal in the Netherlands Publishing its Q3 trading update, 888 registered group revenues of £449m, down 7% on comparative Q3 2021 results of £484m. The group’s enlarged online portfolio of 888, William Hill UK and William …

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888Africa makes first play in East Africa  

888 Holdings

888 Holdings has announced the launch of its strategic joint-venture 888Africa, which has secured local licences for the markets of Kenya, Tanzania, Mozambique and Zambia.  In March, the FTSE250 gambling group announced that it would back the launch of 888Africa – a dedicated African markets venture led by former PokerStars CMO Christopher Coyne. Launching the venture within East African markets, …

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888 confirms Randy Freer short stint NED departure 

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The board of 888 Holdings has disclosed that Randy Freer will no longer be advising the company as an Independent Non-Executive Director (NED) of the FTSE250 global gambling group.   The decision was announced via a short statement published by 888’s board notifying investors that Freer had resigned from NED duties due to ‘increased outside commitments’. Freer, a US media and …

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UKGC penalty crusade continues as SpreadEx hit with £1.36m

SBC News UKGC penalty crusade continues as SpreadEx hit with £1.36m

SpreadEx has been hit with a £1.36m penalty, in the latest in a series of regulatory enforcement actions by the UK Gambling Commission (UKGC). The regulator cited social responsibility and anti-money laundering shortcomings as the reasons behind the financial penalty, the same factors behind a number of charges against other operators. Just last week, FTSE100 giant Entain was charged £17m …

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