Itai Pazner resigns as Chief Executive Officer of 888
Itai Pazner resigned as Chief Executive Officer of 888. Pazner’s duties will be temporarily taken over by the group’s non-executive chair – Lord Mandelsohn.
Problems of 888 in the Middle East
Itai Pazner resigned as CEO with immediate effect, and 888’s troubles in the Middle East were to contribute to his decision. An internal investigation revealed that the group had infringed rules on Know Your Customer (KYC) and anti-money laundering (AML) processes. At the same time, the group announced that it is suspending its VIP offer for the Middle East region for the duration of the investigation.
Pazner leaves 888 after 22 years, the last four of which he spent as Chief Executive Officer. As CEO, he had the opportunity to lead the group through the early stages of the integration of William Hill’s assets outside the United States, as well as presiding over the company’s expansion into North America.
It’s not the end of 888 departures
– On behalf of the board I would like to thank Itai for his significant contributions to the business over more than 20 years, including the last four as CEO – said the interim CEO, Lord Mendelsohn. – Itai has played a very important role in building a business with powerful proprietary technology and has overseen successful early stages to the William Hill integration process. We wish him well in his future endeavours – he added.
Itai Pazner is not the only person to leave 888 in the near future. The Group also announced the resignation of Chief Financial Officer Yariv Dafna on 31 March. Daphne’s resignation is believed to be a consequence of information about a 3% drop in revenues in the 2022 financial year.