Published
OnlineFinancial

Ben-Yitzhaks sell approximate £60m-worth in 888 shares

Two

888logo
co-founders of 888 Holdings have sold shares worth an approximate £59.6m in the operator.

The Ben-Yitzhak brothers, Shay and Ron, who founded the company with Shaked brothers Avi and Aharon in 1997, were confirmed by 888 to have reduced their stake in the business to 2.59%.

The number of ordinary shares owned by the “Ben-Yitzhak Family Shares Trust” has reduced from 37.1 million to 9.3 million, with their previous shareholding being 10.4%, while the Shaked family collectively holds a 48.2%, split evenly between Avi and his late brother’s children.

William Hill had discussions with 888 over the possibility of acquiring the business last year, though talks ended due to a lack of agreement with a key stakeholder, reported to be Avi Shaked, who asked for 300p a share as opposed to 200p a share.

888 has missed out on the M & A activity that has been going on across the industry recently, after it was beaten to purchasing BwinParty by GVC Holdings, despite the fact that 888 had agreed a deal last year to buy BwinParty for 104.09p per share, before being trumped by GVC’s offer of 25p in cash plus 0.231 new GVC shares per BwinParty share.

Itai Frieberger was announced as permanent CEO of 888 in March, having stepped up from COO initially on an interim basis last May when Brian Mattingley left the position to become executive chairman of the board.
Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...