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888 holdings casinos9/11/2023 ![]() ![]() The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It was founded and officially launched in 1996. Headquartered in Gibraltar, 888 Holdings is a publicly traded betting and iGaming company and owns several globally recognized gambling brands and websites. They added: “We estimate that the suspension of such activities will hit the group’s overall revenue by at least 3%.”Īs earlier this month the company officially announced a 3% drop in revenue in 2022 due to the strengthening of online player security measures in the UK and the shutdown of its Dutch operations, this led to a 15% drop in online business revenue.Īs a result, Yariv Dafna, the company’s chief financial officer, which was slated to leave, will now remain with the company for a full year, according to the 888 Holdings officials. In an interview on Monday, company officials also said that “some anti-money laundering and Know Your Client processes were not followed for its VIP customers in the Middle East region.” The board, however, did not give an explanation for Prazner’s resignation. In light of Prazner’s resignation, the board decided to appoint Jonathan Mendelsohn, who has been non-executive chairman until now, as interim Chief Executive Officer until the board searches for someone who can take over the position in the long term. ![]() ![]() Since Prazner, who is 50 years old, has been at the helm of the company for almost 4 years, the company’s shares fell almost 40% throughout Pazner’s resignation.ĭuring Prazner’s leadership, the company also supervised the acquisition of William Hill‘s global assets from U.S.-based owner Caesars Entertainment in 2021. The company’s shares fell as much as 14.4% on the news, but then rallied slightly and are now 11% lower by 0815 GMT. On January 30, Itai Prazner, Chief Executive Officer of 888 Holdings, a public company based in Gibraltar that owns several brands such as 888 sport, 888 casino and 888 poker, resigned effective immediately, and the company stopped VIP activities in the Middle East due to an internal investigation, according to company officials. Latest Casino and Gambling News, Casino News, World Casino News, Gaming Industry News, Money Laundering, Economy/Finance, European Casino News, Conferences / Trade Shows, Middle East Gaming News, Online Gambling News, Crime, Gibraltar, United Kingdom Betting on sports futures, props and lay bets. ![]()
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