DraftKings in swoop for 888 Holdings

Finance News

888 Holdings share price will be in the spotlight on Thursday as hopes of an acquisition jumped.

The stock has been under intense pressure and was trading at 81.70p, the lowest point since July 17th. It has crashed by more than 39% from its highest point this year and by 83% from its all-time high.

According to the FT DraftKings’ chief executive Jason Robins held talks with a group of 888 shareholders ,FS Gaming,about making an all-stock offer for William Hill owner 888, the people said. Advisers were present on both sides. FS Gaming, which includes industry veterans such as former GVC chief executive Kenny Alexander, was at the time a top-five 888 shareholder.

Robins met with FS Gaming’s Lee Feldman, a former GVC chair, to discuss the takeover plans, including the possibility of appointing Alexander as 888 chief executive, the people said.