Two senior 888 Holdings execs have sold significant numbers of shares in recent days.
888’s chief operating officer Itai Frieberger sold 350k shares at 181.3p, leaving him with a little over 1m shares left in his kitty. Chief financial officer Aviad Kobrine went further, selling his entire stake in the company – 500,204 shares – for 180.9p.
So, er, is there something the rest of us should know? Probably not, as the execs were likely taking advantage of the 12.5% spike the shares have enjoyed since Dec. 1. The stock hit an all-time high of 185p on Dec. 14, suggesting people remain convinced that the company is either a likely acquisition target or is looking to do some acquiring of its own.
One week before that all-time high, 888 issued a trading update saying that trading in the second half of 2015 had been “very encouraging” and H2 earnings would likely come in at the top end of the range of analysts’ forecasts. 888 exec chairman Brian Mattingley said results had been particularly strong in its casino and sport verticals.
In less inspiring news, 888 recently announced that its Lucky Ace poker room had stopped accepting new customer registrations and the site will officially close its doors for good on Dec. 28.
888 launched the German-facing site seven years ago but the parent company has grown tired of marketing the offshoot brand, particularly since many Lucky Ace customers also held accounts on 888Poker. All Lucky Ace customers will be migrated to the main 888Poker platform before the axe swings.
Speaking of 888Poker, Wednesday will see the launch of a new TV marketing campaign. The ‘Live the Game’ spots (viewable below) are intended to further boost 888’s appeal among recreational players, particularly those who apply poker philosophies to their everyday decision-making process.
The spots, produced by Hometown London, revolve around three players who apparently can’t stand losing to one another because they (ahem) live the game. We really can’t wait for the day when the US is entirely regulated and commercials such as these will show the last actor shooting the other two dead because, well, that’s how ‘Murica rolls.
