888 Holdings has announced to the London Stock Exchange that Richard Kilsby intends to retire as Non-executive Chairman of the Board following the Company’s 2015 Annual General Meeting. When Kilsby retires, current Chief Executive Officer, Brian Mattingley, will step down from his current role and be appointed Executive Chairman of the Board.
Mattingley commented on Kilsby’s retirement, saying:
“The Board would like to thank Richard for the outstanding leadership shown during his nine-year tenure, during which the Company has faced and successfully overcome significant challenges in an ever-changing environment, and in which the Company itself has grown and changed considerably.
Richard has announced his retirement at a time when 888 has delivered another record-breaking set of results, driven by the continued strength of our core products and markets underpinned by our best-in-class technology, analytical capabilities and innovative marketing, as well as the efforts of our exceptional team.
There is a lot of work still to do in the final months of Richard's tenure, and we are grateful that Richard will continue to play a leading role in the Board's activities until his retirement at the end of next year's AGM.
On behalf of the entire 888Sport team, I would like to take this opportunity to thank Richard for his significant contribution to 888's development and achievements. I would also like to offer my personal thanks for his support, dedication and counsel during my three-year tenure as Chief Executive of the Company.”
The news came on the back of 888 Holdings revealing half yearly results that saw revenue increase by 13% to $225.1 million, including a 3% increase in poker revenues to $48.1 million – the latter figure being most impressive when you consider online poker has been in a steady decline in recent years.
Bingo (9%) and casino (14%) also increased, with only 888’s “Emerging Offering” seeing revenues fall.
Despite the solid results and the fact the current Chairman is being replaced by a well-respected and proven leader, 888’s share price fell from a high of 130.50 on August 26 to 126.50 at close of trading on August 28.