Tag Archives: Itai Pazner

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

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

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

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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888 backs Christopher Coyne led AFRICA joint venture

888 Holdings has backed plans to launch 888AFRICA as a joint venture business, expanding the FTSE250 firm’s presence within ‘select regulated African markets.’ This morning, 888 confirmed that it had “invested in a minority stake in 888AFRICA, with the option to increase its control, and ultimately own up to 100% of the venture in the future”. The business will be …

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888: A responsible gambling strategy in tandem with market growth

888 Holdings has detailed growth across a range of existing and current markets, but has underscored a need to focus on safer gambling in tandem with this expansion – particularly following its recent fine in the UK.  Breaking down the company’s 2021 trading results in the 888 full year earnings call yesterday, CEO Itai Pazner focused on developments in Europe …

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888 nets 5x profit jump ahead of critical B2C portfolio enlargement 

888 Holdings has branded 2021 as a year of ‘strategic progress’, in which the company has realised its transformative objective to become a global leader in online betting and gaming.  Full-year 2021 trading saw 888 register record group revenues of $980 million, up 15% on corresponding FY2020 results of $850 million. Headline growth was achieved despite 888 countering “$70-100 million …

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888 expands North American vision securing Ontario greenlight 

888 Holdings has significantly bolstered its North American growth prospects, confirming this morning that it is amongst the first foreign operators to secure an Ontario province licence.  Updating investors, the FTSE250 online gambling group confirmed that its B2C online gambling platform had been awarded an igaming licence by the Alcohol and Gaming Commission of Ontario (AGCO). Ontario’s online gambling market …

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888 regulated market efficiency clears German/Dutch hurdles

​​888 Holdings hails ‘another record breaking year’, as the FTSE250 gambling group publishes its pre-close trading statement ahead of its transformative enlargement with William Hill.     Of significance, expansion within regulated markets offset German regulatory challenges for 888, as the firm detailed that a strong performance in four key markets helped drive revenue by 14% in 2021. Updating investors, the company …

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