HG Vora had previously held a stake below the disclosure threshold but increased its shareholding after the former GVC (now Entain) board directors, including former CEOs Kenny Alexander and Shay Segev, made their stake public.
Management has announced its stake in the gambling group 888, following the recent disclosure by a group of former executives from rival bookmaker GVC, currently rebranded as Entain. Financial Times reported that the New York-based fund revealed that it holds a 5.5% stake in 888, with shares owned directly by the fund and its head, Parag Vora.
The emergence of both HG Vora and FS Gaming Investments, the consortium of former Entain executives, has set the stage for a potential shake-up of 888. The company’s stock price has struggled over the past year due to compliance issues and rising interest rates, which negatively impacted its £1.95 billion ($2.5 billion) debt-fueled deal to acquire William Hill.
Management has announced its stake in the gambling group 888, following the recent disclosure by a group of former executives from rival bookmaker GVC, currently rebranded as Entain. Financial Times reported that the New York-based fund revealed that it holds a 5.5% stake in 888, with shares owned directly by the fund and its head, Parag Vora.
The emergence of both HG Vora and FS Gaming Investments, the consortium of former Entain executives, has set the stage for a potential shake-up of 888. The company’s stock price has struggled over the past year due to compliance issues and rising interest rates, which negatively impacted its £1.95 billion ($2.5 billion) debt-fueled deal to acquire William Hill.
