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Per Widerström Starts Work as CEO of 888

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Today, October 16, Per Widerström started a new role as chief executive of 888. Widerström took over the position from Lord Mendelsohn, who had been serving as the executive chair of the company since Itai Pazner’s departure in January. Lord Mendelsohn will now revert to a non-executive role.

Widerström comes to 888 with a great deal of experience, including an eight-year stint as the CEO of Central and Eastern European firm Fortuna Entertainment Group, from which he resigned earlier this year. Before Fortuna, he held executive positions with various gaming operators, including well-known names like Bwin.party and Gala Coral Interactive, over a career that spans 17 years.

Several Changes at 888

In other changes at 888, Sean Wilkins will join the company as chief financial officer, effective 1 February 2024, taking over from Yariv Dafna. Dafna had initially planned to leave by 31 March but agreed to stay on until the end of this year. He officially left on 2 October, and Vaughan Lewis has been serving as interim CFO since.

Trading Update Later This Week

Widerström's first tasks will include overseeing the Q3 trading update that 888 is expected to be released later this week, on 18 October. Last month, the company suggested that its revenue is expected to drop by 10% to around £400 million.

Several factors have been affecting the business, including new compliance rules and slower-than-expected recovery in customer activity. Other elements affecting the company's performance include favorable sports outcomes in September, which have impacted the winning margin both in the UK and internationally.

However, 888 is optimistic about a return to revenue growth in 2024, particularly with increasing customer numbers.

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