The O Shaked Share Trust, which is a representative of the family members of the late co-founder of 888 Holdings Aharon Shaked, has triggered the sale of its entire stake in the company. Just a few months back in June 2017, the trust sold off 40 millions of its company share, reducing its company equity by a whopping 37%. Now, the trust has sold all its 888 Holding share, earning them around $147 million.
Who is 888 Holdings?
888 Holdings PLC is the holding company of big gambling brands like 888 Casino, 888 Poker, 888 Sports, and 888 Bingo. 888 Casino provides a diverse collection of casino games with a big focus on slots from many different developers, but they also have their own in-house software to power their games library.
Who is the largest shareholder of 888 Holdings now?
Although the O Shaked Share Trust has been bought out, the largest shareholder of 888 Holdings remains at the hands of the Shakeds. The family of Aharon’s brother, Avi who also co-founded the company, still has 24% equity of the company, making them the largest shareholder. The other co-founders, Shay and Ron Ben-Yitzhak, have sold a significant amount of their shares last year, lowering their equity to just 3%.
What will happen to 888 Casino now?
With the Shaked family’s voting rights reduced tremendously, rumours are flying again that there will be a takeover. In 2015, it was believed that the Shaked family rejected an offer of a $1.14 billion takeover by William Hill, one of the UK’s longest-standing bookmakers. However, whatever happens to 888 Holdings, you can be certain that it will still be business as usual at 888 Casino given the brand’s immense success. So head over to the website now, sign up for an account, and the casino will double your initial deposit instantly!