|Traded as||LSE: 888|
|Headquarters||Suite 601/701, Europort, Gibraltar|
|Richard Kilsby, Chairman
Brian Mattingley, CEO
|Revenue||$400.5 million (2013)|
|$61.7 million (2013)|
|$50.0 million (2013)|
888 Holdings plc is a company which operates several high-profile gambling websites. It was founded in 1997. 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.
The business was founded by Israeli entrepreneurs Avi and Aaron Shaked and Shay and Ron Ben-Yitzhak in May 1997 as Virtual Holdings Limited. 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 center was moved to Gibraltar. It was first listed on the London Stock Exchange in 2005. Talk of listing began in mid-2005, as other private online gambling companies began to make the move to public ownership, with HSBC advising 888 on the IPO, which reached an estimated initial valuation £550 to £650 million. The final valuation upon flotation was £590 million. 888 Holdings owned several subsidiaries and brands, which it began to bring under the singular "888" brand name in early 2006.
Until 2006, 888 Holdings operated Pacific Poker in the US, before online gambling became illegal in that country. However, 888 was not as reliant on US revenues as its other UK competitors, leading to less of an impact. In late 2006 Ladbrokes and 888.com announced merger discussions. 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. In March 2007 888 announced its acquisition of Bingo business of Globalcom Limited for up to $43.4 million in cash. In 2008, 888 Holdings was elevated to the FTSE 250 Index, with its 2007 revenues increasing by $56 million from 2006--with casino games accounting for 55% of the company's gross. In its first half year, the company's bingo business earned $14 million in revenues.
888.com overtook the 4th place on the poker network list in April 2012 after almost having tripled their peak number of players from July 2010 to February 2012. In February, 2015, 888 Holdings confirmed it is in "advanced talks" over a reported $1.47 billion USD (£750 million) takeover by William Hill. This prompted a 18 percent jump in its share price. The company operates under a gaming license granted by the government of Gibraltar. Under the terms of the gaming license Cassava Enterprises owns and operates a number of gaming sites (both for real money and educational sites). In 2014 888 Holdings turned down an offer to acquire the company for 700 million pounds. That year the company revenues began to increase due to mobile customers on its websites, and the company's sites hat 17.8 million paying users.
In 2015 Brian Mattingley left the position of CEO to assume the position of executive chairman of the board for 888 Holdings. In 2015, as online gambling began to return to the United States, four of the five legal gambling websites were run by 888, including three in Delaware and one in Nevada. The company had first initiated its return to the US market in 2013, partnering with Avenue Capital Group to form the first US online poker network.
888 casino is an online gambling site operated by 888 Holdings PLC and licensed in Gibraltar.  The site provides online casino games in download and web-based instant play for personal computers, tablets and mobile devices. 888 casino offers traditional casino games to play online including classic table games such as blackjack, roulette, baccarat and craps, classic slots and video slots, video poker and Live Casino tables. In 1994 the Free Trade & Processing Zone Act was passed in Antigua and Barbuda, opening the way for the development of legal online casinos. Casino-on-Net, 888 Holding’s first online casino, was launched in May 1997, and re-branded in 2010 as 888 casino in order to unify the look and feel of other 888 Holdings offerings, 888 poker, 888 games, 888 sport and 888 ladies.
888 Casino platform
The 888casino platform is powered by Random Logic software, a subsidiary of 888 Holdings that provides research, development, operations and marketing services. Available in 23 languages, 888 casino offers online casino games for real-money betting and free practice play. New games are both developed in-house and supplied by external gaming companies such as Net Entertainment and Amaya Gaming.
The 888 Live Casino Tables offer players real-time casino games hosted by a live casino dealer. Games are streamed via a live cam streaming link and players place their bets and chat with their dealer via their computer screen. Live Casino tables offer blackjack, roulette and baccarat tables and a choice of professional male and female dealers. With the exception of LIVE casino games, which are broadcast in real-time with live dealers via webcam, the 888 casino "dealer" is really a computer. A Random Number Generator (RNG) is utilized to ensure that performance is truly random. 888 casino uses the MD5 RNG which provides consistently random results. The system has been rigorously tested by running millions of rounds and examining results. The system is also systematically tested by 888.com.
Re-entering the US market
In October 2006, as a result of an act of the United States Congress, online gaming firms had to end their presence in the US market, or face the threat of crippling criminal prosecutions. The end result was an exile from the US market for UK gaming companies. In March 2013, the Nevada Gaming Commission granted 888 an online license as an Interactive Gaming Service Provider, enabling 888 to become the first company uniquely providing online gaming by an US jurisdiction.
Recently the state of New Jersey allowed online casino games to feature as part of its new regulatory regime. In August 2013, 888.com signed an agreement with Caesars Interactive Entertainment (CIE) through the group’s All American Poker Network (AAPN) joint venture with Avenue Capital enabling 888 to offer own-branded poker and casino products in New Jersey. 888 casino also publishes an independently audited monthly Casino Payout Percentage and includes the Payout Percentage of each 888.com game, as well as the total average Payout Percentage of 888.com.
Sponsorship & awards
|Best Online Casino of the Year, TotallyGaming Awards||2005, 2006, 2007, 2008, 2009, 2012|
|Best Betting and Gaming Company, Leisure Report Awards||2007 & 2008|
|Gold Readers Choice Award for Top Casino, The Gambling Online Magazine Awards||2007|
|Best Casino Operator of the Year and Best Overall Online Gaming Operator||2005|
|Best Online Casino of the Year||2008 & 2009|
|Operator of the Year, eGR Operator Awards||2013|
|Poker Operator, eGR Operator Awards||2013|
888poker.com 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, and Seven-card stud. Like Casino-on-Net,888 poker offers free play versions of its games for players who prefer not to risk real money. 888 Poker is Microsoft Windows and Mac compatible. Players can choose to play on the site's software program or on the non-downloadable game version available online.
888 Holdings owns and operates several different online bingo sites. They offer 90-ball and 75-ball bingo games, along with online slot machine games, progressive jackpots and scratchcards. The games all run on a no download required basis and have an emphasis on community and chat rooms. In December 2009, 888.com purchased brands including Wink Bingo, Posh Bingo, Tasty Bingo, and RedBus Bingo from Daub. 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, 90-ball and 5-line bingo games as well as instant games, casino games and scratchcards. In January 2013, 888ladies.com launched a mobile app for iPhone and later Android iPad and tablet. The site is known for running frequent competitions.
Wink Bingo launched in 2008 and is the biggest site in the Joy of Bingo network and the second largest 888 bingo site. 888’s acquisition of the site was followed by a TV ad campaign that included projecting the Wink Bingo logo onto the Houses of Parliament. Wink Bingo also runs frequent promotions and competitions. In January 2014, Wink launched The Breakfast Club competition, asking readers to photograph their meals and upload them to the Wink Bingo Facebook page for the chance to win ASDA vouchers. The competition received news coverage in Hello Magazine and Reading Chronicle. Posh Bingo launched in September 2006 and underwent a major redesign in March 2012. The site has a fashion theme. Tasty Bingo launched in March 2010 and is themed around food. RedBus Bingo launched in April 2010 and has a London theme. Bingo Street launched in July 2011 and is based on a typical UK street, with rooms titled ‘Bingo Supermarket’ and ‘Bingo Hall’.
Big Brother Bingo launched in January 2012 and is based on the reality television show Big Brother on Channel 5. The room names have Big Brother themes and special prizes are often linked to the television programme. There are also standard cash prizes and polls on the housemates.
888bingo.com is the second online bingo site by Cassava, after 888ladies. It was formally launched in December 2009. It offers a selection of games including 75-ball and 90-ball bingo, team bingo, slots, instant games, video poker, and table games. The site is a certified supporter of GamCare, as is 888ladies. 888’s Facebook app Bingo Appy launched in December 2012. offering bingo, casino and slots games via Facebook. It is now the only bingo app on Facebook to permit users to bet and win real money, with Bingo Friendzy’s withdrawal. The app offers 75-ball and 90-ball bingo, instant games, scratchcards and freebie rooms. 888 had initially provided a ‘freemium’ or play-for-fun service on Facebook before the introduction of Bingo Appy.
|Online Bingo Operator of the Year, IGA Gaming Awards.||2012|
|Best Bingo Marketing Campaign at the EGR Operator Marketing and Innovation Awards.||2014|
888sport.com is Cassava's sports betting site. The online bookmaker was launched in March 2008. 888games.com is Cassava's casual gaming site. Hosts a variety of games, from video slots to scratchcards, table games and classic casino games in a non-download platform. 888games currently offered in: Germany and the United Kingdom.
On 2 October 2006, 888 Holdings announced that it had indefinitely suspended business from US customers in light of the passage of the Unlawful Internet Gambling Enforcement Act of 2006 by the US Congress three days before. On 14 August 2007, the US Department of Justice asked to recoup all profits made by the company in the US. This would amount to nearly $120m for 888.
In March 2012, Brian Mattingley was appointed as Chief Executive of 888 Holdings.
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