Business
Termination of Discussions with FS Gaming
Termination of Discussions with FS Gaming.
About this update from Evoke Plc
[{"type":"text","content":"\n\n\n \n14 July 2023\n \n \n\n\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \nFOR IMMEDIATE RELEASE \n \n888 Holdings Plc\n(\"888\" or \"the Group\")\n \nTermination of Discussions with FS Gaming\nFurther to its major shareholder notification on 6 June 2023, FS Gaming Investments LLC (\"FS Gaming\") subsequently presented a proposal (\"Proposal\") to the Board of 888 (the \"Board\"). The Board has thoroughly reviewed the Proposal, which centred on the appointments of Lee Feldman, Kenny Alexander and Stephen Morana to become Chair, CEO and CFO of 888, respectively. All the proposed appointees previously held senior leadership positions at GVC Holdings Plc (\"GVC\") (now Entain plc). \nOn 31 May 2023, Entain plc (\"Entain\") announced it had entered deferred prosecution agreement negotiations with the Crown Prosecution Service in relation to the ongoing HMRC investigation into offences that include, but are not limited to, section 7 of the Bribery Act 2010. Entain noted that the ongoing investigation includes a review of its former Turkish facing business and that the company acknowledged that historical misconduct involving former third party suppliers and former employees may have occurred. In considering the Proposal, the Board examined all potential risks related to this, including reviewing information from historic discussions between William Hill and GVC.\nThe Group has been in communication with the GB Gambling Commission (\"GBGC\") in relation to FS Gaming's shareholding and the Proposal. The GBGC has expressed its concern regarding the ongoing HMRC investigation into GVC's activities covering the time the individuals proposed to the Board by FS Gaming were in senior leadership positions at GVC, and that it is in close dialogue with HMRC regarding its ongoing investigation. The GBGC requested regular updates from 888 in relation to any new developments in the circumstances around FS Gaming and its Proposal so that it can fully execute its responsibilities as the GB regulator.\nThe Group requested clarification from FS Gaming in relation ...