The year has not been kind to 888, having announced in October that pre-tax profits had fallen 43%, although the company claims to have arrested the slide in November. This Friday saw its share price bolt upward as takeover rumors involving a different suitor, Caesars Entertainment, made the rounds.
Although Ladbrokes appears keen to buy itself some online relevance (as they seem incapable of developing it in-house), its shareholders may be concerned by 888’s lack of a PartyGaming/Sportingbet type immunity deal with the US Dept. of Justice. Anyway, the situation bears watching, as CEO Richard Glynn seems determined to prove before the year is over that he’s worth that lofty salary the board awarded him when he took over the reins in March.