Per Widerström officially became CEO of 888 Holdings on October 16, after being announced as the successor to Itai Pazner in July.
For nine years, Widerström was the CEO of European betting group Fortuna Entertainment Group. He left that company in January in anticipation of the move to 888. He also spent several years as a corporate director at betting affiliate and publisher Catena Media.
According to SBC News, Widerström joins 888 at “a transformative and somewhat tricky time.” In 2021, the company acquired U.K. betting giant William Hill International from Caesars Entertainment, paying £2.2 billion (US$2.671 billion) for the sportsbook. The acquisition gave it an additional 1,400 high-street betting shops as well as William Hill’s iGaming operations via the Mr. Green subsidiary.
The company took on substantial debt to complete the transaction and also had to make good on a penalty imposed on William Hill by the U.K. Gambling Commission (UKGC). The UKGC handed down a fine of £19.5 million (US$23.7 million) for what it called “widespread and alarming” social responsibility and anti-money laundering failures.
In addition, in July the UKGC reviewed 888’s license due to its association with GVC Holdings, controlled by the board of FS Gaming Investments, which had also sought to acquire 888. But 888 has since cut ties with FS Gaming, and Widerström’s arrival signals a new era. Last month, as he was inducted into the SBC Hall of Fame, he said, “The best is yet to come.” He said he would “hit the ground running from day one” to steer the company into the future.
“I am delighted and honored to become the croup’s new CEO,” Widerström stated. “Following 888’s combination with William Hill, the group has a world-class portfolio of betting and gaming brands, an outstanding technology platform and an exceptional team.”
Lord Mendelsohn, who served as interim executive chairman after Pazner’s departure, has now returned to his post as non-executive chair.
