888 Holdings CFO Yariv Dafna steps down

This was reported in the company’s trading update, which showed mixed outcomes.

888 Holdings CFO Yariv Dafna will be stepping down from his role following the publication of the Group’s FY22 results. This personnel change will come into effect on March 31 and the company has already started the search for his successor.

Interestingly, Gambling Insider recently covered a report that found CFOs last an average of only 2.9 years in the role; a similar time to Dafna’s as CFO at 888.

The umbrella gambling corporation highlighted Dafna’s contributions to 888 in recent years, saying that he was integral to the transformational combination with William Hill. The group completed the acquisition of William Hill in July 2022 for $2.4bn.

888 CEO Itai Pazner commented: “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. On behalf of everyone at 888, I wish him the very best in his future endeavors.”

Online revenues in Q4 of 2022 remained stable compared to the third quarter of the year but dipped 5% year-over-year. Meanwhile, retail revenues saw a 5% annual rise to $131m as 888’s retail establishments continued to perform strongly post-pandemic.

888 Holdings owns the SI Sportsbook brand in the US and believes it saw success there in Q4, with the winter World Cup bolstering results across online and retail. The firm says this was a strong period for the acquisition of new customers and engagement of existing customers across online and retail, with online player days at William Hill up 22% compared to Euro 2021.

Both overall FY22 revenue and Q4 trading levels were in line with the company’s guidance, at $2.2bn and $458m respectively.

Robert Collins

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