Tag Archives: Itai Pazner

888 backs Christopher Coyne led AFRICA joint venture

SBC News 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

SBC News 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 

SBC News 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 

SBC News 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

SBC News 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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888 sells Dragonfish bingo unit to Broadway for $50m

SBC News 888 sells Dragonfish bingo unit to Broadway for $50m

Broadway Group’s Saphalata Holdings Ltd is due to acquire the Dragonfish online bingo business units of 888 Holdings for a total consideration of $50 million, as the latter looks to focus on its US operations and other B2C assets. Under the terms of the transaction Broadway Group will integrate 888’s Dragonfish B2b holding and multiple B2C operators, including its technology, …

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888 secures regulatory clearances to move ahead with William Hill takeover

SBC News 888 secures regulatory clearances to move ahead with William Hill takeover

888 Holdings has confirmed that it has moved closer to completing its full acquisition of William Hill’s international non-US assets, predicting closure of the acquisition in Q1 2022. In an update this morning, the FTSE250 gambling group confirmed that it has secured mandatory antitrust and pre-completion gaming regulatory clearances, paving the way for finalisation of the takeover. Confirmed on 9 …

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888 hails product leadership as William Hill transformation looms

SBC News 888 hails product leadership as William Hill transformation looms

888 Holdings cites confidence in achieving its full-year 2021 financial objectives, as the FTSE250 group readies its business for a transformative end-of-year trading period finalising its acquisition of William Hill Plc. Publishing its Q3 trading statement, 888 maintains its strong trading momentum against tough period comparatives, reporting group revenues of $230 million up 7% on 2020 corresponding results of $216 …

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Interest in William Hill retail divisions remains after 888 acquisition

SBC News Interest in William Hill retail divisions remains after 888 acquisition

As this morning 888 Holdings is declared the winning bidder of Caesar Entertainment’s auction of William Hill’s non-US assets – uncertainty remains as to the future of the heritage bookmaker’s retail unit and how it will reshape betting’s presence on the high-street.   The deal will enable 888 to quadruple its market share, becoming the third-largest group operator in the UK …

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888 acquires ‘hugely exciting’ £2.2bn William Hill International

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888 Holdings CEO Itai Pazner has confirmed the ‘hugely exciting acquisition of William Hill’s non-US business from Caesars Entertainment for £2.2bn.  The deal, news of which broke earlier this week, is expected to deliver ‘significant operating efficiencies’, including pre-tax cost synergies of at least £100 million per year, which 888 says will lead to improved profit margins. On a pro …

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