Shares of 888 Holdings Plc (OTC: EIHDF) plunged Friday after the gaming company warned its UK license could be on the line as regulators there examine an investment in the firm by a vehicle controlled by Kenny Alexander.
Last month, FS Gaming Investments, an investment group led by Alexander, took a 6.57% stake in 888. The move by the group led by the former GVC chief executive officer sparked hope among 888 investors that Alexander’s involvement would spark a turnaround. Despite some controversies, Alexander is widely regarded as one of the godfathers of the modern sports wagering industry. Today, GVC is Entain Plc (OTC: GMVHY) — one of the world’s largest sportsbook operators.
Last month, FS Gaming Investments, an investment group led by Alexander, took a 6.57% stake in 888. The move by the group led by the former GVC chief executive officer sparked hope among 888 investors that Alexander’s involvement would spark a turnaround. Despite some controversies, Alexander is widely regarded as one of the godfathers of the modern sports wagering industry. Today, GVC is Entain Plc (OTC: GMVHY) — one of the world’s largest sportsbook operators.
