Industry News

888 Holdings Confirms Per Widerström as New Chief Executive

Published

1 year ago

October 17, 2023

Niji Narayan

Reading Time: < 1 minute

888 Holdings has confirmed that Per Widerström has now officially taken up the role of chief executive.

Interim chief executive Jonathan Mendelsohn will revert back to his original role as non-executive chair, alongside a new position in 888’s nominations committee, the company added.

Widerström takes charge of 888 after a tough year for the FTSE 250-listed betting firm.

Issues within subsidiary William Hill resulted in the company being hit with a record fine of £19.2 million in March this year.

This had followed regulatory scrutiny over 888’s money-laundering protections within its Middle Eastern operations, which prompted the departure of former boss Itai Pazner in January.

Widerström’s appointment has been tipped to steady the ship at 888 therefore, with even this coming after an attempt by activist investor FS Gaming for control of the firm.

“Widerstrom’s appointment could open up a new, more positive chapter for the group,” interactive investor analyst Victoria Scholar commented previously.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.