..

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

Cryptocurrency Trader Charged With Fraudulent Scheme Involving Over $5 Million

AUDREY STRAUSS, the United States Attorney for the Southern District of New York, and William F. Sweeney Jr., the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of a Complaint in Manhattan federal court charging JEREMY SPENCE, a/k/a “Coin Signals,” a cryptocurrency trader who solicited funds for various cryptocurrency funds that he operated, with commodities fraud and wire fraud offenses.

Bitcoin Slumps 10% as Pullback From Record High Gathers Pace

Bitcoin Slumps 10% as Pullback From Record High Gathers Pace

Bitcoin slumped 10% on Thursday to a 10-day low, retreating further from record highs, with traders citing fears of tighter U.S. regulation.

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

Cryptocurrencies plunged on Monday, with bitcoin dropping more than 12% to a one-week low

Bitcoin Hits $38,000 for First Time, Pushing Cryptocurrency Market Value Past $1 Trillion

Bitcoin Hits $40,000 for First Time, Pushing Cryptocurrency Market Value Past $1 Trillion

Bitcoin smashed through $38,000 to hit a new record high on Thursday as the cryptocurrency’s massive rally continues, then the $39,000 mark just prior to 11 am ET, and by afternoon the price peaked at $40376.

PayPal Backs Crypto Tax Startup Taxbit

PayPal Backs Crypto Tax Startup Taxbit

PayPal Holdings Inc’s venture arm has made an investment in Salt Lake City, Utah-based tech startup Taxbit, which helps consumers and businesses calculate the taxes owed on cryptocurrency holdings, the companies said on Thursday.

Syndicate