888 Readjusts Senior Leadership Amid Global Business Growth

In mid-September, leading betting and gaming company 888 Holdings announced the appointment of Sean Wilkins as its new chief financial officer, a decision that will go into effect starting February 1, 2024. The month before that, the company made its H1 2023 results public, reporting strong revenue and adjusted EBITDA growth with special emphasis on the positive impact of the decision to acquire William Hill. 

Now, 888 has announced hitting the refresh button on its senior leadership in the context of the company trying to cut its debt while promoting its global growth which includes a series of important moves. For instance, at the start of August, the company strengthened its foothold in Africa through the acquisition of sportsbook BetLion via 888’s part-owned 888AFRICA entity, after 888-owned casino brand Mr Green went live in Germany.

What Led to the Reshuffling?

The senior leadership reshuffling has been mostly triggered by the £2.2 billion ($2.68 billion) purchase of William Hill from Caesars Entertainment, a decision meant to create a global industry leader that also generated substantial debt for the company. 

Since then, 888 has been busy successfully slashing this debt by £68 million ($82.8 million) to £1.6 billion ($1.94 billion) according to the H1 trading update. At the same time, 888 has announced its ongoing plan of reaching £2 billion ($2.43 billion) in revenue by the year 2025.

Important Changes Announced

The Audit Committee will be chaired by Mark Summerfield who will also be the independent non-executive director (NED). A chartered accountant, Summerfield spent close to three decades working for KPMG in the UK and US. Similar NED positions will be filled by Limor Ganot and Andrea Gisle Joosen. 

After resuming his position as non-executive chair of the group, Lord Mendelsohn will embrace a series of additional duties by joining the group’s Nominations Committee. 

The Remuneration Committee will be chaired by Andrea Gisle Joosen, Anne de Kerckhove and Limor Ganot as NEDS. Senior independent director Anne de Kerckhove will chair the ESG Committee together with NED Ori Shaked and Mark Summerfield.

The Gaming Compliance Committee will have Michael Alonso as chair, accompanied by Summerfield and Shaked. De Kerckhove, Shaked, and Ganot will lead the Nominations Committee. 

888 Holdings has become one of the most prominent names in the betting and gaming industry worldwide. The group has its headquarters in Gibraltar, is listed in London, and has 15 global offices while employing more than 11,000 people. 

The group owns and operates well-known global brands like 888poker, 888casino, 888sport, William Hill, and Mr Green while also operating the US-based SI Sportsbook brand along with Authentic Brands Group.