Online betting giant 888, which owns William Hill’s chain of 1,400 high street betting shops, revealed that Chief Financial Officer Yarif Dafna will step down at the end of March, following publication of the company’s full-year results.
The resignation, reported by London’s Evening Standard, comes after a decline in 888’s online sales. The group reported that total revenues for the last three months of 2022 declined by 3 percent, driven by a dip in online sales. For the year, online revenues hit £1.33 billion, down 15 percent from the £1.57 billion made over 2021.
888 bought William Hill for £1.95 billion last year, and instituted a plan to cut costs and eliminate positions that overlapped between the two companies.
Dafna had been CFO of 888 since September 2020.
“The board and I would like to thank Yariv for the contribution he has made to 888, including playing a crucial role in the completion of our transformational combination with William Hill and leading the recent successful financing of 888’s external debt,” said 888 chief executive Itai Pazner in a press statement. “On behalf of everyone at 888, I wish him the very the best in his future endeavors.”
