Gigi Levy Leaves 888 Holdings

Gigi Levy has announced that he is finally leaving 888 Holdings after serving as its Chief Executive Officer for a period of four years followed by a year as a member of its Board of Directors.

After announcing that he would be stepping down as Chief Executive Officer in order to pursue other interests in April, 2011, Levy undertook to remain on as a member of the group’s Board of Directors for another year.

888 Holdings has shown a 25% year on year increase in total revenues for the first quarter of the year according to its latest trading update which is significantly better than the past few years. The group’s total revenues were listed at $94 million with the number of action casino and poker customers growing by 87% to 566,000.

Brian Mattingley has taken over as Chief Executive Officer of 888 Holdings and commenting on the group’s latest trading report he said that their focused strategy has resulted in another excellent quarter with continued strength in Poker driving March to the highest ever monthly revenues in 888 Holdings’ history. Mattingley added that poker has continued to perform well at the beginning of the second quarter of 2012.

888 Holdings were advised last week that they were one of a number of online gambling groups to be granted a license to operate in the newly regulated Spanish market. This follows the group’s payment of EURO 8.7 million to the Spanish government in back taxes.

Mattingley revealed that the Spanish market accounted for 5% of their revenue in 2011.