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WAS LEVY EXIT PRECEDED BY DIFFERENCES WITH 888 FOUNDERS

Written On  4/12/11 By Recentpoker.com staff writer Jennifer Jearu :

CityAM quotes insider sources on friction between management and founders

The resignation this week of 888.com chief exec Gigi Levy was the result of rift which developed between him and the founders and main shareholders of the company, the Israeli Shaked and Ben-Yitzak families, an unnamed source told the London business daily CityAM Monday.

The departure of the high profile executive  announced over the weekend took most industry observers by surprise.

The founding families between them own 61 percent of 888.com's stock, and it is claimed that their relationship with Levy soured over differences of opinion on the future path of the group.

Company spokesmen have denied that the ongoing takeover discussions with the Ladbrokes group player a role in Levy's resignation. It has been alleged that 888 rejected an offer of 70p a share from Ladbrokes, and that the online and land gambling giant is reconsidering its position after five months of negotiations.

888.com investors would have been less than happy at the 2010 results of 888, which posted a steep fall in profits.



Gambling News :

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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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