888 Holdings plc (LSE: 888) is a company which operates several high-profile gambling websites. It was founded in 1997 and is a constituent of theFTSE SmallCap Index.
It has an operating subsidiary, Cassava Enterprises, which is incorporated and operates under the laws of Gibraltar.
Brothers Avi and Aaron Shaked owned approximately fifty percent of the parent-company through family trusts. Another pair of brothers, Shay and Ron Ben-Yitzhak, control approximately eleven percent through a family trust.
The business was founded by Avi and Aaron Shaked and Shay and Ron Ben-Yitzhak in May 1997 as Virtual Holdings Limited.Casino-on-Net was launched at that time and an administrative centre was established in Antiqua.In 2002 Reef Club Casino and Pacific Poker were launched.In 2003 its administrative center was moved to Gibraltar.It was first listed on the London Stock Exchange in 2005.
In late 2006 Ladbrokes and 888.com announced merger discussions.However in April 2007 the companies announced that due to recent changes of Tax laws in the UK and fears of legal actions by the US government, both parties had amicably agreed not to continue discussions.
In March 2007 888 announced its acquisition of Bingo business of Globalcom Limited for up to $43.4 million in cash.
After some downswings in terms of player volume from February 2010 to July 2010, one could finally see signs of recent investments paying off. 888.com overtook the 4th place on the poker network list in April 2012 after almost having tripled their peak number of players from July 2010 to February 2012.