A Review Puts Betting Giant 888’s License at Risk: Shake-Up in Management by William Hill Owner
The license of betting giant 888 is currently under review due to an investment vehicle supported by Kenny Alexander nominating him as its CEO.
The owner of William Hill has stated that the review, which may result in a significant fine or the revocation of 888’s British gambling license, is centered around FS Gaming’s investment and their proposal to restructure 888’s management.
Last month, FS Gaming, backed by Alexander and other former Entain executives, acquired a 6.6% stake in the company.
Probe: The owner of William Hill said the review was centred on FS Gaming’s investment and its proposal to shake up 888’s management
Recent board changes have resulted in Alexander being appointed as the CEO.
Entain has been under investigation by HMRC for four years due to potential breaches of the Bribery Act by its former subsidiary in Turkey.
Alexander led GVC for over 13 years, transforming it into a FTSE 100 company with 25,000 employees.
The Gambling Commission does not provide commentary on individual operators or ongoing investigations.
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