888 Holdings’ chief financial officer to step down

The gambling operator has confirmed that Yariv Dafna will leave his role in March.

UK.- The gambling operator 888 Holdings has confirmed that its chief financial officer and executive director Yariv Dafna will step down from his role at the end of March. Dafna was appointed as 888’s CFO in November 2020 to replace the outgoing Aviad Kobrine.

Dafna will leave the company following the publication of 888’s final results for 2022. The company’s board has started a search for a successor.

888 Holdings chief executive Itai Pazner said: “The board and I would like to thank Yariv for the contribution he has made to 888 including playing a crucial role in the completion of our transformational combination with William Hill and leading the recent successful financing of 888’s external debt. On behalf of everyone at 888, I wish him the very best in his future endeavours.”

In December, 888 Holdings named Anna Barsby as its chief product and technology officer. It was the latest executive appointment since the company’s acquisition of William Hill’s European assets in July.

Before the end of 2022, 888 Holdings also announced an updated strategy at its Capital Markets Day in London. The company outlined plans to concentrate on a “smaller number of key markets” in 2025 to cut its leverage.

It forecasts revenue of more than £2bn in 2025, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) margin of more than 23 per cent and adjusted net debt/EBITDA of less than 3.5x. That’s based on a focus on a “refined” number of key markets in which it aims to gain greater market share.

In July, 888 Holdings completed its £1.95bn acquisition of William Hill’s non-US assets, including the brand’s UK retail estate. And with a very different business going forwards, including land-based bookmakers for the first time, it has announced a reshuffling of its leadership team.