- 888 Holdings
Infobox Company
company_name = 888 Holdings
company_
company_type = Public (lse|888)
foundation =1997
location =Gibraltar
key_people = Richard Kilsby, Chairman
Gigi Levy,CEO
industry =Gambling
products =
revenue = US$216.9 million (2007 )
operating_income = US$33.0 million (2007 )
net_income = US$34.2 million (2007 )
num_employees =
parent =
subsid =
homepage = [http://www.888holdingsplc.com/ www.888holdingsplc.com]
slogan =
footnotes =888 Holdings plc (lse|888) is a company which operates several high-profile
gambling websites. It was founded in 1997 and is a constituent of theFTSE 250 Index .It has an operating subsidiary, Cassava Enterprises, which is incorporated and operates under the laws of
Gibraltar .Brothers Avi and Aaron Shaked owned approximately fifty percent of the parent-company through family trusts. Another pair of brothers, Shay and Ron Ben-Yitzhak, control approximately eleven percent through a family trust. [ [http://www.888holdingsplc.com/investor_relations/shareholder_info/shareholders.asp 888 Holdings shareholders] ]
History
The business was founded by Avi and Aaron Shaked and Shay and Ron Ben-Yitzhak in May 1997 as "Virtual Holdings Limited". [http://www.888holdingsplc.com/About_Us/Company_History.asp 888 Holdings History] ] Casino-on-Net was launched at that time and an administrative centre was established in
Antigua . In 2002 Reef Club Casino and Pacific Poker were launched. In 2003 its administrative centre was moved toGibraltar . It was first listed on theLondon Stock Exchange in 2005.In late 2006
Ladbrokes and 888.com announced merger discussions. [ [http://news.bbc.co.uk/1/hi/business/6118310.stm Ladbrokes in 888 takeover talks] ] However in April 2007 the companies announced that due to recent changes of Tax laws in the UK and fears of legal actions by the US government, both parties had amicably agreed not to continue discussions. [ [http://www.casinoguide.com/ladbrokesand888holdingsamicablyendmergertalks.html Ladbrokes and 888 Holdings amicably end merger talks] ]In March 2007 888 announced its acquisition of Bingo business of Globalcom Limited for up to $43.4 million in cash. [ [http://investing.reuters.co.uk/news/articleinvesting.aspx?type=smallCapsNews&storyID=2007-03-29T134628Z_01_L29538387_RTRIDST_0_888-BINGO.XML Reuters: UK's 888 buys online bingo firm] ]
Operations
The company operates under a
gaming license granted by the government ofGibraltar . Under the terms of the gaming license Cassava Enterprises owns and operates a number of gaming sites (both for real money and educational sites) including:888.com
"888.com" is Cassava's flagship website. It serves primarily as an 'easy to remember' location and brand and encapsulates Casino-on-Net and Pacific Poker websites. Although it houses no games of its own, 888 is often billed as 'the largest casino website on the Internet'.
Casino-on-Net
"Casino-on-Net" is Cassava's online casino branch. It was originally launched in May 1997 and has served 13 million people. The site offers a number of traditional casino games for play, including
slot machine s,blackjack ,baccarat ,roulette ,craps ,pai gow poker ,caribbean stud poker ,keno , andvideo poker . Casino-on-Net also offers free 'practice money' versions of its games.Reef Club Casino
"Reef Club Casino" is a casino offering by Cassava which features an 'underwater' theme. It was launched in May 2002 as a more fantasy-style alternative to the real-world style of Casino-on-net. It offers a selection of games similar to that of Casino-on-Net, and also allows players to play for 'practice money' if they prefer not to use real money.
Pacific Poker
"Pacific Poker" is Cassava's online poker room branch. It was launched in July 2002 and focuses exclusively on variants of
poker and other card games. Traditional poker variants are offered, including Texas Hold'em, Omaha, andSeven-card stud . Like Casino-on-Net, Pacific Poker offers free play versions of its games for players who prefer not to risk real money. Pacific Poker is Microsoft Windows and Apple Macintosh compatible. Players can choose to play on the site's software program or on the non-downloadable game version available online.888ladies
"888ladies.com" is Cassava's online bingo room. The bingo site was launched in February 2008 after 888 acquired
online bingo company, Globalcom. 888ladies offers 75-ball and 90-ball bingo games.888sport
"888sport.com" is Cassava's
sports betting site. The online bookmaker was launched in March 2008. Bets can be placed on a variety of events, mainly sporting events. 888sport is currently offered in six countries:Germany ,Spain ,Denmark ,Sweden ,Austria and theUnited Kingdom .US players
On
October 2 2006 , 888 Holdings announced that it had indefinitely suspended business from US customers in light of the passage of theSafe Port Act by the US Congress three days before. [ [http://www.forbes.com/business/feeds/afx/2006/10/02/afx3058492.html Forbes: 888 suspends business from US customers] ] OnAugust 14 2007 , the US Department of Justice asked to recoup all profits made by the company in America. This would amount to nearly $120m for 888. [ [http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=423288&in_page_id=3 PartyGaming and 888.com About to Write Blank Checks to US Government?] ]ponsorship
Since 2004, 888.com group has been the main sponsor of the Middlesbrough Football Club, with the 888.com name on the club's strip, but was replaced in August 2007 . More recently the 888.com group has become the main sponsor for Sevilla Football Club. In 2006, 888.com became the main sponsor of the
World Snooker Championship but terminated the five-year contract in August 2008 after just three years.Notes
External links
* [http://www.888holdingsplc.com/ 888 Holdings PLC corporate site]
* [http://www.888.com/ 888.com site]
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