Tag Archives: Lord Mendelsohn

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 …

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 …

Lord John Mendelsohn has stated that 888 Holdings will soon prove “the compelling and strategic logic” of its corporate enlargement, as detailed to investors in 2021. In his role as Executive Chairman, Mendelsohn addressed investors following the publication of 888’s H1 2023 interim results. Improved H1 trading saw 888 register a 3x jump in EBITDA to £155m. Yet, its business …

888 Holdings Plc has reaffirmed its full-year corporate guidance as the LSE gambling group navigates a period of multiple transitions impacting its business and future outlook.   Publishing its H1 2023 interim trading results, 888 registered a 165% surge in corporate revenues to £881m (H1 2022: £332m) as headline growth was attributed to “the addition of William Hill following completion of …

888 Holdings has found a new CEO in Per Widerström, who assumes executive leadership of the international group as it navigates tricky market and regulatory conditions. Widerström will commence CEO duties from 16 October 2023 onwards, taking responsibility for leadership of the company’s multinational portfolio of brands, including the 888 betting and igaming divisions, William Hill and Mr Green. The …

Kenneth Alexander and Lee Feldman, the former leadership duo of GVC Holdings have launched investment vehicle FS Gaming, acquiring a 6.5% stake in embattled 888 Holdings  FS Gaming is reported to be comprised of seasoned igaming investors who believe that 888’s is ‘significantly undervalued’ and will help the LSE gambling group overcome its hurdles since acquiring William Hill’s UK and …

The board of 888 Holdings has vowed to return the business back to shareholder growth by implementing a new corporate strategy prioritising capital efficiencies and debt reductions.     This morning, the LSE gambling group posted a jam-packed full-year 2022 trading results alongside a Q1 2023 update outlining new corporate measures to optimise its enlarged business incorporating William Hill. FY2022 group revenues …