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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 ]
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