888 Announces New Management Line Up after William Hill Acquisition
The 888 Group has announced that it has completed the acquisition of William Hill and the Mr Green brand from Caesars Entertainment.
888 is one of the industry's leading betting and gaming companies, including the 888casino and 888sport brands. The addition of William Hill and Mr Green into the 888 portfolios will increase their global presence.
As these two companies integrate, 888 has reported that there will be a restructuring of the senior leadership within the organization. 888 estimates that the integration and streamlining of the two companies will lead to savings of around £100 million in costs by the year 2025.
Itai Pazner has been the CEO of 888 since 2019, having been promoted within the group, and going forward following this acquisition, he will remain the CEO of the group. This will see the departure of William Hill's current CEO, Ulrik Bengtsson.
I am delighted to announce the completion of our transformational combination with William Hill. We have built an outstanding leadership team, combining strengths from across both businesses, and as I look at the future, the combination of our product and content leadership, powered by our proprietary technology, and our world-class brands, gives us a powerful platform for growth. I'd like to thank Ulrik and Eric for the great job they have done at William Hill, and I wish them well for the future.
Another member of the William Hill senior leadership structure to leave will be CFO Eric Hageman. The CFO role in the combined group will be filled by the current 888 CFO, Yariv Dafna, who has held this position at 888 since late 2020.
This combination brings together two high-quality businesses to create a powerful, global betting and gaming business. We believe the acquisition will create significant value for shareholders, creating a combined business with leading technology, products, and brands across sports betting and gaming. With a top-quality management team formed from talent from across both businesses, I am confident about our future plans.