888 shares surge as former Entain execs buy in

Shares in 888 Holdings were trading more than 20 per cent higher in London Wednesday morning on news of a 6 per cent shareholding by a group of high-profile industry executives.

New York-based FS Gaming Investments has acquired a 6.57 per cent stake in 888 and is expected to play an active role in reviving the company’s fortunes following the acquisition of William Hill last year and the departure of chief executive Itai Pazner at the start of the year.

FS Gaming represents former GVC (now Entain) chief executive Kenneth Alexander, former Entain director Stephen Morana, Daniel Shribman of B. Riley Investments, and former GVC chairman Lee Feldman, among others.

The 6.75 per cent shareholding of FS Gaming includes approximately nine million shares that were transferred to the investment company by Shay Segev, the former CEO of Entain and current chief executive of DAZN.

Shares in 888 Holdings plc. (LSE:888) were trading 20 per cent higher at 96.00 pence per share in London Wednesday morning.