888’s UK license review concludes without penalties

888’s UK license review concludes without penalties

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888’s UK license review concludes without penalties

The UK Gaming Commission undertook a thorough investigation into 888, a well-known operator.

This inquiry began after FS Gaming, an investment firm controlled by Entain’s former CEO Kenny Alexander, acquired a 6.57 percent stake in 888. Because FS Gaming had previously said that it wanted to promote three former Entain executives to key leadership positions at 888, the acquisition of such a stake raised concerns.

If FS Gaming’s ownership in 888 exceeds ten percent as a result of the proposed leadership changes, the UK Gambling Commission must accept the alteration. If the Commission rejects the amendment, 888’s license to operate in the United Kingdom may be revoked.

According to the suggested leadership alterations, Stephen Morana would be chief financial officer, Kenny Alexander would become CEO of 888, and Lee Feldman, the previous chair of Entain, would be the chair of 888.

Following the investigation, the UK Gambling Commission decided not to take any regulatory action against 888, according to a recent announcement by the operator. The Commission’s judgment demonstrates its satisfaction that 888 has appropriately controlled and mitigated any risks to the licensing purposes stipulated in the Gambling Act.

Despite 888’s disclosure, the Commission has yet to make a public statement on this topic.

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