FS Gaming Investments, an investment group led by former GVC CEO Kenny Alexander, revealed Tuesday it has taken a 6.57% stake in William Hill parent 888 Holdings.
It’s the first move of note by Alexander since his surprise 2020 departure from GVC, which later became Entain Plc (OTC: GMVHY). FS Gaming Investments also has financial backing from former GVC Chairman Lee Feldman and Shay Segev. Segev succeeded Alexander at GVC and was the architect of the gaming company’s acquisition of Ladbrokes and its transformation to Entain.
The new 888 investors reportedly view the gaming company as undervalued owing to its nearly $2 billion in debt and a recent series of compliance missteps at William Hill that led to some of the largest penalties ever levied by the UK Gambling Commission (UKGC).
It’s the first move of note by Alexander since his surprise 2020 departure from GVC, which later became Entain Plc (OTC: GMVHY). FS Gaming Investments also has financial backing from former GVC Chairman Lee Feldman and Shay Segev. Segev succeeded Alexander at GVC and was the architect of the gaming company’s acquisition of Ladbrokes and its transformation to Entain.
The new 888 investors reportedly view the gaming company as undervalued owing to its nearly $2 billion in debt and a recent series of compliance missteps at William Hill that led to some of the largest penalties ever levied by the UK Gambling Commission (UKGC).
