Tag Archives: Itai Pazner

888 puts faith in ‘transformational’ Hills merger as H1 profit sinks 66%

SBC News 888 puts faith in ‘transformational’ Hills merger as H1 profit sinks 66%

The group-wide revenue and profit of 888Holdings  took a heavy hit across the first six months of the year, as the LSE-listed firm continues to adjust to its acquisition of William Hill. Publishing its interim report this morning, the FTSE250 group revealed that revenue and profit for H1 2022 were both down by 13% and 66%, standing at £332.1m and …

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888’s corporate transformation continues as bingo business sold to Saphalata

SBC News 888’s corporate transformation continues as bingo business sold to Saphalata

888holdings has completed the sale of its B2B and B2C Bingo business to Saphalata Holdings, a major development in its corporate restructuring.  A member of the Broadway Gaming Group, Saphalata initially agreed to buy 888’s Dragonfish brand for a total cash consideration of $45,25 million (£37.4m) back in December 2021.  The transaction saw $45.25m payable on completion of the deal …

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888 bolsters post-Hills acquisition leadership with new NED appointments

SBC News 888 bolsters post-Hills acquisition leadership with new NED appointments

888holdings has confirmed the appointment of three Non-Executive Directors (NEDs), as the firm looks to consolidate its position following the completed takeover of William Hill. The international gambling group announced this morning that Andrea Gisle Joosen, Andria Vidler and Randy Freer would join the Board as Independent NEDs, each having accumulated experience across a range of sectors.  In the aftermath of …

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888 struggles to find backers for £1bn debt bond

SBC News 888 struggles to find backers for £1bn debt bond

The financial uncertainty and volatility of global markets continue to impact the online gambling sector as 888 Holdings is reportedly struggling securing investors to back its £1bn bond.  During H1 trading, 888 proceeded to issue a £1bn debt bond, needed to finalise its £1.9bn takeover of William Hill’s UK and international units from Caesars International.    The debt bond, made-up of …

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888 reveals new C-level team following William Hill takeover completion

SBC News 888 reveals new C-level team following William Hill takeover completion

888 Holdings has transformed its business, completing the acquisition of William Hill’s UK and International units from Caesars Entertainment for £1.95 billion – a deal initiated in September 2021.  This morning, 888 announced that it had begun its integration of William Hill and Mr Green – new brands that will serve alongside the group’s B2C portfolio of 888 and SI …

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Ulrik Bengtsson stands down as CEO of William Hill as 888 takeover nears completion

SBC News Ulrik Bengtsson stands down as CEO of William Hill as 888 takeover nears completion

William Hill has confirmed that Ulrik Bengtsson has stepped down as Chief Executive of the company, which expects to complete its sale to 888 Holdings on 1 July. Issuing a statement, Bengtsson told investors that he had accomplished the objectives of his leadership tenure, which saw William Hill internationally diversify its business, followed by its £3 billion sale to Caesars …

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888 interim results on target ahead of William Hill takeover on 1 July

SBC News 888 interim results on target ahead of William Hill takeover on 1 July

888 Holdings expects its 2022 interim revenues to be “broadly” in line with corporate expectations, as the FTSE250 igaming group navigates a tougher European regulatory climate. In process of finalising its £2 billion acquisition of William Hill – 888 expects interim revenues to be between £330-and-£335 million range, for the six months to 30 June. The board of 888 noted …

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Howard Mittman to lead 888’s stateside operations

SBC News Howard Mittman to lead 888’s stateside operations

As the firm continues to increase its focus on the expanding North American betting and gaming market, 888 has announced Howard Mittman as President of its US operations.  In his new role at 888, Mittman will be responsible for coordinating the Gibraltar company’s strategic partnership with Authentic Brands Group (ABG), in addition to the rollout of the group’s SI Sportsbook …

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888 posts 18% revenue decline ahead of William Hill integration

SBC News 888 posts 18% revenue decline ahead of William Hill integration

888 Holdings has detailed that both its B2C and B2B operations suffered a substantial decline during first quarter trading, citing a number of factors impacting the FTSE250 group’s commercial performance.    Publishing a trading update for Q1 2022, 888 detailed a year-on-year corporate revenue decline of 18% to $224 million (2021: $273m) –  a percentage decline which was mirrored by  its …

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