888 shares jump on takeover talks

Ladbrokes and 888 Holdings have confirmed that they are in “the early stages of discussions” about a deal that would see Ladbrokes making an offer for 888 Holdings.

Ladbrokes has stressed that there is no certainty that the discussions will lead to an offer being made.

Shares in Ladbrokes were down by 0.4% to 127p in early trading on Monday morning. 888 Holdings’ shares were up by 19% to 58.25p.

888 Holdings has expertise in online gaming (casino, poker, bingo) and has developed a B2B division in Dragonfish. Its online sports book is not one of its strengths.

 

Since new CEO Richard Glynn has joined Ladbrokes a number of executives have left the company as part of Glynn’s Project Galvanise, which is designed to get Ladbrokes back on track. 
The departures include: John O’Reilly, Head of E-gaming, Chris Palmer, Corporate Development Director, and Ed Andrewes Managing Director of E-gaming. 

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