British online gambling company
888 Holdings plc, formerly Virtual Holdings Limited, is
an international sports betting and gambling company. It owns 3️⃣ brands such as 888casino,
888poker, 888sport, Mr Green, and William Hill. Business operations are led from its
headquarters in Gibraltar, 3️⃣ alongside satellite offices in Bucharest, Ceuta, Leeds,
London, Malta, Sofia, and Tel Aviv. It is listed on the London Stock 3️⃣ Exchange.
History
[ edit ]
The business was founded in May 1997 by Israeli entrepreneurs Avi and Aaron
Shaked and Shay and 3️⃣ Ron Ben-Yitzhak, two sets of brothers, as Virtual Holdings Limited.
The company's first website, Casino-on-Net was launched at that time, 3️⃣ and the
administrative centre was established in Antigua. In 2002 Reef Club Casino and Pacific
Poker followed. In 2003 its 3️⃣ administrative center was moved to Gibraltar.[3] It was
first listed on the London Stock Exchange in 2005.[4] Talk of listing 3️⃣ began in
mid-2005, as other private online gambling companies began to make the move to public
ownership,[5] 888 Holdings owned 3️⃣ several subsidiaries and brands, which it began to
bring under the singular "888" brand in early 2006.[6]
Until 2006, 888 Holdings
3️⃣ operated Pacific Poker in the US, before online gambling became illegal in that
country.[7] In late 2006 Ladbrokes and 888 3️⃣ announced merger discussions.[8] However, in
April 2007 the companies announced that due to recent changes of Tax laws in the 3️⃣ UK and
fears of legal actions by the US government, both parties had amicably agreed not to
continue discussions.[9] In 3️⃣ March 2007 888 announced its acquisition of Bingo business
of Globalcom Limited for up toR$43.4 million in cash.[10] In its 3️⃣ first half-year, the
company's bingo business earnedR$14 million in revenues.[11]
888 overtook the 4th place
on the poker network list in 3️⃣ April 2012 after almost having tripled their peak number
of players from July 2010 to February 2012.[12] In February, 2024, 3️⃣ 888 Holdings
confirmed it is in "advanced talks" over a reported US$1.47 billion (£750 million)
takeover by William Hill. This 3️⃣ prompted an 18 percent jump in its share price.[13] The
company operates under a gaming licence granted by the government 3️⃣ of Gibraltar. Under
the terms of the gaming licence 888 owns and operates a number of gaming sites (both
for 3️⃣ real money and educational sites). In 2014 888 Holdings turned down an offer to
acquire the company for 700 million 3️⃣ pounds.[14] That year the company revenues began to
increase due to mobile customers on its websites, and the company's sites 3️⃣ had 17.8
million paying users.[15]
In March 2024, 888 revealed that it had applied for a gaming
licence in Malta, due 3️⃣ to uncertainty over the UK's exit from the European Union
(Brexit) on Gibraltar, a British Overseas Territory.[16]
On 2 May 2024, 3️⃣ founder Shay
Ben-Yitzhak died in an ultralight plane crash near Yakum, Israel at age 52. His
11-year-old son sustained minor 3️⃣ injuries.[17]
On 3 March 2024, 888 Holdings appointed
Lord Jonathan Mendelsohn as Chairman.[18]
In May 2024, 888 announced that shareholders
had approved 3️⃣ the acquisition of international bookmakers William Hill. 888 said the
deal was scheduled to close in June 2024: the company 3️⃣ will pay £1.95 billion: the
acquisition includes all of William Hill's UK assets. The deal marked 888 Holdings’
entry into 3️⃣ the retail sports betting market with a network of over 1,400 betting shops
in the UK.[19]
In May 2024, 888 announced 3️⃣ the launch of its Sports Illustrated
Sportsbook (SI Sportsbook) in Virginia. Following the launch of the SI Sportsbook in
Colorado, 3️⃣ in September 2024, the company plans on expanding the brand in more states
within the year.[20]
Players in the United States 3️⃣ [ edit ]
On 2 October 2006, 888
Holdings announced that it had indefinitely suspended business with US customers in
light 3️⃣ of the passage of the Unlawful Internet Gambling Enforcement Act of 2006 by the
US Congress three days before.[21] On 3️⃣ 14 August 2007, the US Department of Justice
asked to recoup all profits made by the company in the US.[22]
In 3️⃣ 2024, as online
gambling began to return to the United States, four of the five legal gambling websites
were run 3️⃣ by 888, including three in Delaware and one in Nevada.[23] The company had
first initiated its return to the US 3️⃣ market in 2013, partnering with Avenue Capital
Group to form the first US online poker network.[24]
In 2024, 888 expanded its 3️⃣ American
online poker business by becoming the sole owner of the All American Poker
Network.[25]
Controversies and penalties [ edit ]
Shares 3️⃣ in 888 Holdings fell by 8%
after the company revealed it was under investigation by the Gambling Commission (UKGC)
in 3️⃣ May 2024.[26] The company was fined a record £7.8 million in August 2024 after more
than 7,000 customers were allowed 3️⃣ to retain access to their betting accounts even after
they decided to ban themselves.[27][28] Self-excluded players were allowed to place
3️⃣ bets for 13 months before 888 Holdings was fined.[29]
In March 2024 888 UK Ltd was
fined £9.4 million by the 3️⃣ UK Gambling Commission following an investigation which
uncovered anti-money laundering (AML) and social responsibility failings.[30]
Brands [
edit ]
888casino [ edit 3️⃣ ]
888casino is an online gambling site operated by 888
Holdings.[31] It was founded in 1997 and is based in Gibraltar. 3️⃣ It is one of the
Internet's oldest casinos.[32] In 2013 it became the first exclusively online casino to
be licensed 3️⃣ in the United States.[33]
888poker [ edit ]
888poker is 888's online poker
room, launched in July 2002.[34]
888sport [ edit ]
888sport is 3️⃣ 888's sports betting
brand. The online bookmaker was launched in March 2008.[35] The site offers both horse
track betting and 3️⃣ sports betting, in addition to access to 888 Holdings' other sites.
Sports leagues on which bets can be placed include 3️⃣ those of Europe, North America, and
elsewhere. This includes live betting, where bets can be placed on in-game action, in
3️⃣ addition to pre-game bets. The brand is the title sponsor for the 888Sport Tingle Creek
Chase,[36] in addition to the 3️⃣ 888Sport Magnolia Stakes.[37] In 2010 888sport became the
title sponsor of the Fontwell Park Racecourse, renaming it the 888sport Grand
3️⃣ Stand.[38] 888sport also works in social media surrounding sporting events,
distributing content to its followers form other content sources,[39] and 3️⃣ has held
online sports video competitions.[40] In March 2024, 888 Holdings paid £15 million for
Dublin-based Dedsert Ltd, which provided 3️⃣ the sportsbook platform for UK-licensed
bookmaker BetBright. 888 CEO Itai Pazner said the acquisition "gives us the missing
piece in 3️⃣ our proprietary and technology portfolio".[41]
William Hill [ edit ]
888 has
owned international bookmakers William Hill since June 2024.[19]
Bingo brands [ 3️⃣ edit
]
888 Holdings owns and operates several different online bingo sites. They offer
90-ball and 75-ball bingo games, along with 3️⃣ online slot machine games, progressive
jackpots, and scratchcards. The games all run on a no download required basis and have
3️⃣ an emphasis on community and chat rooms. In December 2009, 888 purchased brands
including Wink Bingo, Posh Bingo, Tasty Bingo, 3️⃣ and RedBus Bingo from Daub.[42][43][44]
888ladies is 888's online bingo room. The bingo site was launched in February 2008
after 3️⃣ 888 acquired online bingo company Globalcom. 888ladies offers 75-ball, 90-ball
and 5-line bingo games as well as instant games, casino 3️⃣ games and scratchcards.[45] In
January 2013, 888ladies launched a mobile app for iOS devices, and later for Android
devices.[46] The 3️⃣ site is known for running frequent competitions.[47]
Wink Bingo
launched in 2008 and is the biggest site in the Joy of 3️⃣ Bingo network and the second
largest 888 bingo site. 888's acquisition of the site was followed by a TV ad 3️⃣ campaign
that included projecting the Wink Bingo logo onto the Houses of Parliament.[48] Wink
Bingo also runs frequent promotions and 3️⃣ competitions. In January 2014, Wink launched
The Breakfast Club competition, asking readers to photograph their meals and upload
them to 3️⃣ the Wink Bingo Facebook page for the chance to win ASDA vouchers. The
competition received news coverage in Hello! Magazine[49] 3️⃣ and Reading Chronicle.[50]
Posh Bingo launched in September 2006 and underwent a major redesign in March 2012. The
site has 3️⃣ a fashion theme. Tasty Bingo launched in March 2010 and is themed around food.
RedBus Bingo launched in April 2010 3️⃣ and has a London theme. Bingo Street launched in
July 2011, and is based on a typical UK street, with 3️⃣ rooms titled 'Bingo Supermarket'
and 'Bingo Hall'.[51]
Big Brother Bingo launched in January 2012 and is based on the
reality television 3️⃣ show Big Brother[52] on Channel 5.[53] There are also standard cash
prizes and polls on the housemates.[52]
888bingo is the second 3️⃣ online bingo site by
888, after 888ladies. It was formally launched in December 2009. It offers a selection
of games 3️⃣ including 75-ball and 90-ball bingo, team bingo, slots, instant games, video
poker, and table games. 888's Facebook app Bingo Appy 3️⃣ launched in December 2012.[54]
offering bingo, casino and slots games via Facebook. It is now the only bingo app on
3️⃣ Facebook to permit users to bet and win real money,[55] with Bingo Friendzy's
withdrawal.[56] The app offers 75-ball and 90-ball 3️⃣ bingo, instant games, scratchcards
and freebie rooms. 888 had initially provided a 'freemium' or play-for-fun service on
Facebook before the 3️⃣ introduction of Bingo Appy.[57]
Sports Illustrated Sportsbook and
Casino [ edit ]
Sports illustrated Sportsbook is a brand that combines 888 and 3️⃣ Sports
illustrated and offers players sports betting offerings. The company combines sports
offerings from 888 in addition to sports data 3️⃣ from Sports illustrated and is currently
live in the U.S. states of Colorado, Michigan, and Virginia. On February 9, 2024, 3️⃣ SI
Sportsbook launched its casino product in Michigan, marking the official expansion of
the sports book product into the casino 3️⃣ space [58]
Senior management and financial [
edit ]
Gigi Levy served as Chief Executive until 2011, he was paid an annual 3️⃣ salary
ofR$841,000 and an annual bonus ofR$1,007,000 in 2010.[59]
In March 2012, Brian
Mattingley was appointed as Chief Executive of 888 3️⃣ Holdings.[60] In 2024 Mattingley
left the position of CEO to assume the position of executive chairman of the board for
3️⃣ 888 Holdings.[61]
On 24 January 2024, 888 Holdings elevated Chief Operating Officer
Itai Pazner, a 17-year company veteran, to Chief Executive 3️⃣ Officer, replacing Itai
Frieberger, who replaced Mattingley as CEO in 2024.[62]
It was announced in January
2024 that Pazner would be 3️⃣ removed from his role as CEO.[63]
See also [ edit
]
References [ edit ]
