888 goes green with eco security bags for 888poker Live
The operator will use eco-friendly tamper-evident security bags starting in Barcelona next month.
UK.- 888 Holdings aims to become more environmentally friendly by using Ecosec eco-friendly tamper-evident security bags at all 888Live poker events. It will start using the bags at 888poker Live Barcelona, which runs from May 12 to 23 as part of its aim to achieve net zero carbon emissions by 2030.
Ecosec’s biodegradable bags will replace the single-use polyethylene bags used to transport poker chips. The new bags are tamper-evident and more biodegradable. The company claims its the first time biodegradable bags have been used at a major poker event, and it will remove 130kg of single-use plastic from circulation.
888’s head of B2C, Shai Tabibian, said: “We are proud 888 will be the first major operator to partner with Ecosec as part of this extremely progressive initiative. We see innovation partnerships like this as a win-win for us and crucial in our efforts to positively minimise our impact on the environment.
“Plastic chip bags have been used for many years, and we hope this is the beginning of a new, more ecologically friendly world of poker and gaming as we look into the future.”
Ecosec CEO, Karim Louis, said: “The Poker Against Plastic Pollution campaign came about after I started playing in poker festivals. It became clear to me chip bags are essential for securing poker chips and in a tournament organisers’ processes, but my organisation could have a global impact in improving environmental awareness across the industry.
“We’re very much looking forward to delivering these new bags to 888 for the first time and to continuing to partner at future events.”
888 Holdings gets discount on William Hill acquisition
The board of the UK gambling group 888 Holdings has announced an agreement for a reduced price on its acquisition of William Hill‘s European assets. It’s gained a £250m cash reduction, £100m of which will be kept as a 2024 earnout incentive depending on EBITDA performance.
888 said the seller, Caesars Entertainment, had agreed to lower its enterprise valuation of William Hill from £2.2bn to between £1.95 and £2.05bn due to a change in macroeconomic conditions and regulatory compliance factors since the original deal was made in September 2021. It still expects to finalise its takeover of William Hill by the end of H1 trading.
The reason for the reduction in value is a Gambling Commission licence review, which 888 believes will result in losses for William Hill.
Meanwhile, 888 Holdings has announced the launch of a joint venture to expand into Africa. It will begin with a minority stake in the 888Africa venture but with the option to increase this up to 100 per cent.
Operating 888 online betting and gaming brands in regulated African markets, 888Africa will pay a licence fee to 888. The brands will be operated through a third-party technology platform, and products and content will be designed to meet local preferences. It plans to launch in four markets this year.
