..

888 Holdings Chief Executive Officer Gigi Levy Steps Down

Written by:
Guest
Published on:
Apr/10/2011

(Bloomberg News) - 888 Holdings (888.com) the U.K.-listed Internet gambling company that may be bought by Ladbrokes, said Chief Executive Officer Gigi Levy is stepping down “to pursue other interests.”

Levy, who joained 888 Holdings  in 2006 and took over as CEO the following year, will remain on the board, the Gibraltar- based company said in an e-mailed statement today.

“Following very strong trading in the first quarter of 2011, which has continued into the second quarter, Gigi has decided to step down, leaving the company well positioned for the future,” the company said in the statement.

888 Holdings, which supplies services to Caesars Entertainment Corp., has been in talks with Ladbrokes since December on a possible takeover. A previous round of talks between the companies ended in 2007.

Brian Mattingley, deputy chairman and non-executive director at 888, will “work closely with management on all aspects of the business” pending the appointment of a new CEO, according to the statement.

Rachel Graham Reporting

 

As always, you can Follow us on Twitter for all the latest breaking gambling news. (Get all the latest breaking business stories)

Business/Financial News

Custom Bookie Websites: Get Yours for Free

You do not have to go back all that far to remember the days when a sports bookmaker conducted the majority of their business with a pen and a pad of paper.

Costa Rica Hydro Plant Gets New Lease on Life From Crypto Mining

Costa Rica Hydro Plant Gets New Lease on Life From Crypto Mining

A small river in the middle of coffee plantations, sugar cane fields and a forest provides energy to a hydroelectric power plant in Costa Rica that feeds hundreds of computers wired up to the cryptocurrency mining business.

Ayre Tells Market Watch: "For Sure Bitcoin is a Ponzi Scheme"

Ayre Tells Market Watch: "For Sure Bitcoin is a Ponzi Scheme"

Calvin Ayre says Bitcoin SV is powered by a revolutionary technology that has many useful applications, while the digital currency most people know as Bitcoin is useless and a fraud.

Bloomberg: Bitcoin Death Cross Is Staring Down Bulls After a Painful Retreat

Bloomberg: Bitcoin Death Cross Is Staring Down Bulls After a Painful Retreat

Bloomberg warned of crypto being mired in a drawdown as the Fed readies a stimulus withdrawal and the IMF issued its latest warning on crypto risk to financial markets.

Pay Per Head Sportsbook Demo

Pay Per Head Sportsbook Demo

A pay per head sportsbook service allows people to become bookies and accept action on various sports.

Syndicate