The Playing Fee UKGC completed its license evaluation of 888 with no penalties or circumstances.
The UKGC discovered 888βs danger administration passable below the Playing Act. The evaluation started in July 2023 amid discussions about potential management adjustments involving FS Gaming Investments, which held a 6.6% stake in 888. They aimed to nominate Kenny Alexander as CEO, Lee Feldman as chair, and Stephen Morana as CFO.
Initially buying a 4.55% stake in 888 in June, the group later gained the voting rights of one other former GVC govt, DAZN CEO Shay Segev.
The licence evaluation was triggered by the potential change in company management if FS Gaming acquired greater than 10% of 888, requiring approval from the UKGC.
Rejection of the management software may need led to the revocation of 888βs UK licence. Nevertheless, 888 ended the talks attributable to UKGC considerations concerning the investigation into GVCβs Turkish enterprise unit throughout Alexanderβs management.
Following Entainβs disclosure in Could concerning historic misconduct involving former third-party suppliers and ex-employees, an investigation ensued, centering on potential breaches of the Bribery Act.
In late 2023, Entain reached a Β£585m Deferred Prosecution Settlement (DPA) with the UKβs Crown Prosecution Service (CPS).
Shortly after ending discussions with FS Gaming, 888 appointed former Fortuna Leisure CEO Per WiderstrΓΆm as chief govt.
