Saturday, November 28, 2020

Tag: 888

888 decision heightens interest in WrB symposium

Sadie Walters WrB 888
Last week's announcement that 888 had been fined a record £7.8m for technical shortcomings which served to undermine its self exclusion processes, has given added importance and interest to the forthcoming WrB Responsible Gambling Innovation C-Level symposium organised by Clarion Gaming (September 12, OXO2, London). The fine followed a 13 month long investigation by the UK Gambling Commission which found...

Gambling Commission hands out record fine to 888

BBi - Gambling Commission fine harrison
888, one of Britain’s biggest online gambling firms, is to pay a record penalty fine of over £7.8m as a result of its handling of vulnerable customers.   A report from the Gambling Commission said there were "significant flaws" in the firm's social responsibility processes, pointing out that its self-exclusion procedures were “not robust enough and failed to protect potentially vulnerable...

Rank and 888 withdraw from William Hill takeover

888 William Hill Rank
Rank Group and 888 have announced the withdrawal of their proposed takeover bid for London-based bookmaker William Hill on 19 August.   Rank and 888 said in a joint statement that they would abandon a possible deal after failing to ‘meaningfully engage with the board of William Hill’. On 14 August, William Hill received a revised £3.1bn (€3.6bn) bid from the consortium,...

William Hill embroiled in valuation row after rejecting second Rank-888 proposal

William Hill sales
A war of words has broken out between William Hill and its two suitors over the valuation of the company, with sources close to Rank and 888 accusing William Hill of “moving the goal-posts”.   William Hill has less than a week to reach an agreement over a potential three-way merger with Rank and 888 after rejecting a sweetened cash-and-stock bid...

William Hill shoots down ‘risky’ Rank-888 bid

Betting Business, William Hill
William Hill swiftly moved to reject the £3.3 bn takeover bid proposed by the strategic consortium of Rank Group and 888 Holdings, after the pair formally confirmed their proposal to acquire the bookmaker yesterday afternoon.   The board of the betting operator said that the offer “substantially undervalued” its corporate enterprise, branding the move “highly opportunistic.” Adding that it saw no...

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