The beginning of the month saw 888 Holdings complete the acquisition of all non-US assets of William Hill from Caesars Entertainment.
Now, a series of management changes is set to be initiated at the company, including changes to the chief executive officer (CEO), chief operating officer (COO), chief financial officer (CFO), and chief security officer (CSO). As revealed by the new owner of the former William Hill’s assets, the chief risk officer (CRO) role will be occupied by Harinder Gill, while Naama Kushnir is set to step down from the COO role in order to be appointed as chief transformation officer.
888 Holdings revealed that staff and management from the operations that were once owned by William Hill will also get their roles, including the chief product and technology officer Satty Bhens, the Managing Director of the UK operations Phil Walker, and the chief people officer Mark Skinner.
Furthermore, a series of organisational changes are set to be made to the newly-acquired assets. The new owner of William Hill’s non-US business aims at maintaining momentum and keeping the operations as stable as possible while the merger is taking place.
Itai Pazner, the newly-appointed chief executive officer, explained that combining the two brands together and creating the best leadership team from both businesses will take some time but will eventually result in the platform’s growth.
New Management Team Expected to Bring the Combined Gambling Company to Success
As 888 Holdings’ officials shared that the results of the four business segments – the US operations of 888 Holdings, William Hill International, William Hill Retail UK, and William Hill Online UK – are set to be reported in the future. As of August 2022, 888 Holdings is expected to present its first interim results, with the reports set to be made in Pounds Sterling.
According to Lord Mendelsohn, the chair of 888 Holdings, combining the two mega brands will result in something special in the international gambling and betting industry. He further noted that the combined company’s shareholders are set to get greater value, while the operator will be able to explore various new products and leading technology. Lord Mendelsohn also believes that the management team that is being created will make the combined gambling operator’s future really bright.
The acquisition of William Hill’s non-US assets was officially confirmed in September 2021. At the time, Caesars Entertainment said yes to a proposed deal estimated at $2.88 billion.
Several months ago, however, 888 Holdings made a new announcement, saying that the value of the deal was reduced to $2.68 billion. The new value of the deal was approved by the majority of Caesars Entertainment’s shareholders in May 2022 and the deal was officially closed.
William Hill was taken over by Caesars Entertainment in April 2021. The deal, worth almost $4 billion, brought some valuable assets to the US casino and gambling giant but soon after the acquisition’s completion, Caesars revealed that it has no intention of keeping the non-US businesses of William Hill, including the international and UK-based retail high street betting shops and online gambling platforms.
- Author
Olivia Cole
