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