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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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