Business News

In his first major interview since being appointed chief executive, Itai Pazner talks about M&A, the US opportunity and the beauty of owning bingo, casino, poker and - since yesterday - sports betting technology.

Itai Pazner is the new chief executive officer of 888 Holdings. He takes over from his good friend Itai Frieberger, who leaves the company after 16 years - the last eight as chief operating officer and chief executive officer.

Frieberger’s last significant announcement as CEO was the $28m deal to buy out joint venture partner Avenue Capital from the All American Poker Network. Pazner has continued along the same route with two M&A deals in quick succession - the £18m acquisition of the Mandalay bingo operations from JPJ Group and just yesterday, the £15m deal for sports betting company BetBright.

“We continue along the same strategic path that we laid down over a year ago [to find a solution to take control of our sports betting technology]. We have looked at four or five deals - some smaller, some bigger, some older, some newer - but this was something like love at first sight and the more we looked into the detail, the more we liked the deal,” says Pazner.

Premium subscribers continue here to the full article.