888 Holdings has appointed industry veteran Per Widerstrom as the new Chief Executive, taking charge from 16th October 2023.
Per Widestrom joins after stepping down from Fortuna Entertainment Group in 2022, where he had served eight years as chief executive of Central and Eastern European of the business.
His 17-year career in the industry includes management positions with well-known operators including bwin.party and Gala Coral Interactive. Widerstrom also serves as a non-executive director on the boards of Catena and Casumo.
Now, Widerstrom steps in to oversee brands such as 888, Mr Green and William Hill.
I am delighted and honoured to become the group’s new CEO. Following 888’s combination with William Hill, the group has a world-class portfolio of betting and gaming brands, an outstanding technology platform and an exceptional team. Together these attributes mean it is exceptionally well positioned to become a clear global industry leader. It is incredibly exciting to be joining at such a key moment in the group’s long-term development.Per Widerstorm
Meanwhile, Lord Mendehlson who held the CEO position after Itai Pazner, former CEO, did resign on January will now return to his previous role of Non-Executive Chair. He had this to comment.
We are delighted to be able to appoint Per following what has been an extensive and comprehensive search process. The Board unanimously agreed that Per was the clear standout candidate to lead the group to build on the strong platform for growth and value creation that has been established.
Per has extensive experience in both public and private companies, and a long track record with a proven ability to execute value-creation plans. As well as being an energetic and inspiring leader, Per brings nearly two decades of highly relevant industry expertise into the role.
Per not only understands the power and exciting potential of the business, but the Board is also very pleased with his strong record and reputation on governance and complianceLord Mendehlson
Widerstrom takes charge as 888 struggles to pay off a huge debt burden caused by the acquisition of William Hill. By 2025, it hopes to lower its debt leverage by 3.5 times and start preparing to concentrate on a few core markets.