888 Holdings could disintegrate

William Hill was interested in acquiring 888, but its current financial status may delay the transaction.

Both groups of owners are carrying issues in different ways; selling out or merging with another company.

UK.- 888 Holdings co-founders, Ben-Yitzhak brothers, started selling off shares in the company, already reaching £57 million stake –US$82 million–. Whilst the other family founder, the Shaked, are more willing to merge with a gaming company.

Gibraltar’s 888 Holding share went down from 10.4 percent to below 3 percent in the London Stock Exchange. When rumours of selling expanded in the market earlier this year, William Hill showed interest in the merger of both companies and in getting the shares for 200p.

Currently, the co-founder brothers are selling them by 205p a share. William Hill’s proposal was rejected apparently by the Shaked family, who wanted at least 300p per share for 888 when the major operator made the offer. With the future of 888 Holding uncertain, both owner families are waiting for a better business.