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888 boss to become chairman next year

01 September 2014

GAMING and betting company 888 have announced that chief executive Brian Mattingley is to step down next year to become executive chairman.

Richard Kilsby, the current non-executive chairman, intends to retire following the company's 2015 annual general meeting.

The news came as 888 posted their interim results for the first half of 2014.

Mattingley said of Kilsby: "The board would like to thank Richard for the outstanding leadership shown during his nine-year tenure, during which the company has faced and successfully overcome significant challenges in an ever-changing environment, and in which the company itself has grown and changed considerably."

The company said that day-to-day operations will continue to be guided by chief operating officer Itai Frieberger who will become a director from January 1, along with chief financial officer Aviad Kobrine.

Commenting on Mattingley's appointment, the chairman of the company's nominations committee Amos Pickel said: "We are very excited at this move, which will allow the company to continue to take advantage of Brian's wealth of experience, wisdom and knowledge of the company, particularly in maintaining and developing relationships with existing and future regulators."

888 reported revenue to have risen by 13 per cent to $225.1 million (approx £136m), with adjusted ebitda increasing 27 per cent to $49m (aprox £29.5m).

Mattingley added: "888 has delivered another excellent set of results in what has again been a record-breaking period for the business. Revenue growth has been driven by strong performances across both our B2C and B2B lines of business which reflects our exceptional brands, technology, marketing and CRM systems as well as the passion of our highly skilled team."

By mid-morning 888 shares were down 3p to 127.5p.

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