No Regulatory Action Against 888 Following Negotiations with FS Gaming

The UK Gambling Commission has decided not to pursue regulatory action against 888 Holdings following a license review prompted by negotiations with investment firm FS Gaming. The review was initiated in July 2023 after FS Gaming, with backing from former Entain CEO Kenny Alexander, acquired a 6.75% stake in 888.

Under the proposed restructuring, three former Entain executives were slated to assume leadership roles at 888, with Alexander as CEO, Lee Feldman as chairman, and Stephen Morana as CFO. However, the commission's investigation began due to concerns that FS Gaming's stake exceeding 10% would result in a change in corporate control, potentially jeopardizing 888's UK gambling license.

Subsequently, 888 management opted to end negotiations with FS Gaming, citing concerns that the proposed appointments lacked a reasonable prospect of approval. As a result, the commission ceased its investigation, stating that it had no further regulatory claims against 888.