Gigi Levy took over as the CEO of International gaming giant 888 Holdings back in 2006. In the five years he has been in the executive position, Levy has positioned 888 as one of the most stable gaming companies in the world.
The company announced this weekend that Levy will be walking away from his position with 888. Uncertainty surrounds the company in terms of who will be running 888 in the future, but that does not mean anybody at 888 will forget what Levy meant to the gaming group.
“Following very strong trading in the first quarter of 2011,” said the company, in a prepared statement. “which has continued into the second quarter, Gigi has decided to step down, leaving the company well positioned for the future.”
A search will begin for the next CEO of 888 immediately, while Brian Mattingley, Deputy Chairman of 888 will be heavily involved with the decision making process until a new CEO is chosen.
Ladbrokes has been in discussions since late last year to merge with 888 Holdings. It is not known what effects those negotiations will have on the selection of a new CEO. 888 also has recently partnered with US gaming company Caesars Entertainment.
Caesars entered the online gambling industry last year and started a trend of US companies partnering with foreign Internet gaming companies. Wynn Resorts announced a partnership with PokerStars last month, and Station Casinos has entered into an agreement with Full Tilt Poker.
Under Levy’s direction, 888 became one of the leading online bingo providers in the UK. Even with Levy leaving, 888 is continuing to look into expansion of their online bingo industry, seeking to enter European countries such as Spain and Sweden.