Tag Archives: Per Widerstrom

888 Holdings declares that it has established the foundations for future sustainable growth under new company leadership, which will lead the business under its new identity as Evoke Plc. This morning the LSE gambling group published its full-year 2023 accounts, registering ‘reported’ corporate revenues of £1.71bn, up 38% on FY2022 comparative results of £1.23bn. However, pro-forma trading marked 888’s revenue …

The board of 888 Holdings has informed markets that the UK Gambling Commission (UKGC) will take no further regulatory action against the LSE-listed gambling group. This morning, 888 issued a corporate update announcing that the Gambling Commission had completed its license review, initiated in July 2023 due to regulatory concerns raised on FS Gaming’s investment in the LSE firm. Investors …

888 Holdings has notified investors that it has begun a strategic review of its US B2C operations, considering all available options for its US joint-venture with the Authentic Brands Group. This morning, 888 notified that US partner Authentic Brands Group the apparel and entertainment fund that owns Sports Illustrated has “agreed to consensual license termination for US territories”. The decision allows …

888 Holdings has cited a direct impact of £80m on its corporate income due to its “proactive shift away from dot-com markets”. The impact was declared by the LSE gambling group publishing its pre-close statement on 2023 trading, described as a “year of significant regulatory and compliance headwinds.”  Closing year-end trading, 888’s Q4 revenues stood at £424m, a 7% decrease …

888 Holdings has hired Ian Gallagher as its Chief Product Officer. Starting the role back in December, Gallagher will be in charge of 888’s product vision, strategy and development of its global brands and business units such as 888, William Hill, Mr Green and Sports Illustrated. Gallagher will be directly responsible for the LSE gambling group’s teams of product managers, engineers, designers, and …

Playtech Plc is reported to have tabled a £700m offer to acquire embattled LSE rival 888 Holdings. As reported by The Sunday Times this weekend, FTSE 250-listed Playtech’s “£700m swoop for 888 Holdings” was rejected by the board as “undervaluing the company”, according to City sources. The approach is reported to have taken place in July, with Playtech valuing its …

888 Holdings has notified investors that its KPI performance remains consistent with corporate expectations, as the LSE gambling group reported a 10% decline in Q3 revenues to £405m (Q3 2022: £450m).  As anticipated by the firm’s September update, Q3 trading saw group performance dragged by ongoing safer gambling compliance changes and a refined marketing approach, impacting the performance of its …

Per Widerström has taken full leadership of 888 Holdings, having first been announced as the incoming CEO of the multi-brand international betting group in July. Leadership responsibilities were being temporarily filled by Lord Mendelsohn, who has now returned to his post as Non-Executive Chair after serving as Executive Chair since January, having taken up the role following the departure of …

888 Holdings has told a similar story to that of other high-profile gambling plcs., cautioning its investors that its Q3 performance has fallen below expectations. The LSE-listed betting and gaming group cited investment in sustainability and clearing compliance hurdles as the primary reasons behind an expected 10% slump in Q3 revenue. This puts 888 revenue at around £400m for Q3 …

888 Holdings has made another round of adjustments to its senior leadership as the company works to reduce debt amid a growth of its international business. Following the leadership reshuffle, Lord Mendelshon will take on additional duties as a member of the group’s Nominations Committee upon resuming his role as Non-Executive Chair of the FTSE100 gambling group. Further changes will …