An investor consortium spearheaded by sector leaders Lee Feldman and Kenny Alexander, under the banner of FS Gaming, has acquired a 6% shareholding in 888 Holdings. Their objective? To instigate change and unleash the firm’s capabilities.
Feldman, with prior experience as chairman at Entain (previously GVC), and Alexander, the former chief executive of GVC, bring extensive expertise. They are confident their participation can elevate 888’s share value and overall worth, which have been underperforming.
This action follows a turbulent phase for 888. Their previous CEO departed suddenly amid accusations of financial misconduct, and the organization recently divested its Latvian subsidiary. Despite securing William Hill last year, 888’s digital earnings actually declined in 2022. Evidently, adjustments are necessary to steer the company back on course, and FS Gaming appears to believe they are the right team for the task.
A spokesperson for 888 informed media outlets that they are enthusiastic about FS Gaming’s financial backing, interpreting it as a significant endorsement of their organization’s prospects. They anticipate this action will generate substantial worth for their investors. The leadership team is completely dedicated to their extended strategy, which seeks to provide optimal yields for those who have entrusted 888 with their capital. Moving ahead, their intention is to remain focused, implement their plan, and maintain transparency regarding their advancements.
