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Evoke plc

British online gambling company

Evoke plc, formerly Holdings Limited, is an international sports betting and gambling company. It owns brands such as casino, poker, sport, Mr Green, and William Hill. Business operations are led from its headquarters in London, alongside satellite offices in Bucharest, Ceuta, Gibraltar, Leeds, Malta, Sofia, and Tel Aviv. It is listed on the London Stock Exchange.

History[edit]

The business was founded in May by Israeli entrepreneurs Avi and Aaron Shaked and Shay and Ron Ben-Yitzhak, two sets of brothers, as Virtual Holdings Limited. The company's first website, Casino-on-Net was launched at that time, and the administrative centre was established in Antigua. In Reef Club Casino and Pacific Poker followed. In its administrative center was moved to Gibraltar.[3] It was first listed on the London Stock Exchange in [4] Talk of listing began in mid, as other private online gambling companies began to make the move to public ownership,[5] Holdings owned several subsidiaries and brands, which it began to bring under the singular "com" brand in early [6]

Until , Holdings operated Pacific Poker in the US, before online gambling became illegal in that country.[7] In late Ladbrokes and com announced merger discussions.[8] However, in April the companies announced that due to recent changes of Tax laws in the UK and fears of legal actions by the US government, both parties had amicably agreed not to continue discussions.[9] In March announced its acquisition of Bingo business of Globalcom Limited for up to $ million in cash.[10] In its first half-year, the company's bingo business earned $14 million in revenues.[11]

com overtook the 4th place on the poker network list in April after almost having tripled their peak number of players from July to February [12] In February, , Holdings confirmed it is in "advanced talks" over a reported US$ billion (£ million) takeover by William Hill. This prompted an 18 percent jump in its share price.[13] The company operates under a gaming licence granted by the government of Gibraltar. Under the terms of the gaming licence owns and operates a number of gaming sites (both for real money and educational sites). In Holdings turned down an offer to acquire the company for million pounds.[14] That year the company revenues began to increase due to mobile customers on its websites, and the company's sites had million paying users.[15]

In March , revealed that it had applied for a gaming licence in Malta, due to uncertainty over the UK's exit from the European Union (Brexit) on Gibraltar, a British Overseas Territory.[16]

On 2 May , founder Shay Ben-Yitzhak died in an ultralight plane crash near Yakum, Israel at age His year-old son sustained minor injuries.[17]

On 3 March , Holdings appointed Lord Jonathan Mendelsohn as Chairman.[18]

In May , announced that shareholders had approved the acquisition of international bookmakers William Hill. said the deal was scheduled to close in June the company will pay £ billion: the acquisition includes all of William Hill's UK assets. The deal marked Holdings’ entry into the retail sports betting market with a network of over 1, betting shops in the UK.[19]

In May , announced the launch of its Sports Illustrated Sportsbook (SI Sportsbook) in Virginia. Following the launch of the SI Sportsbook in Colorado, in September , the company plans on expanding the brand in more states within the year.[20]

In March , announced its intention to change its name to evoke to "better reflect the strength of the group's multi-brand operating model and its vision and mission to make life more interesting by delighting players with world-class betting and gaming experiences".[21] The proposed change of name will need shareholder approval.[22]

Players in the United States[edit]

On 2 October , Holdings announced that it had indefinitely suspended business with US customers in light of the passage of the Unlawful Internet Gambling Enforcement Act of by the US Congress three days before.[23] On 14 August , the US Department of Justice asked to recoup all profits made by the company in the US.[24]

In , as online gambling began to return to the United States, four of the five legal gambling websites were run by , including three in Delaware and one in Nevada.[25] The company had first initiated its return to the US market in , partnering with Avenue Capital Group to form the first US online poker network.[26]

In , expanded its American online poker business by becoming the sole owner of the All American Poker Network.[27]

Controversies and penalties[edit]

Shares in Holdings fell by 8% after the company revealed it was under investigation by the Gambling Commission (UKGC) in May [28] The company was fined a record £ million in August after more than 7, customers were allowed to retain access to their betting accounts even after they decided to ban themselves.[29][30] Self-excluded players were allowed to place bets for 13 months before Holdings was fined.[31]

In March UK Ltd was fined £ million by the UK Gambling Commission following an investigation which uncovered anti-money laundering (AML) and social responsibility failings.[32]

Brands[edit]

casino[edit]

Main article: casino

casino is an online gambling site operated by Holdings.[33] It was founded in and is based in Gibraltar. It is one of the Internet's oldest casinos.[34] In it became the first exclusively online casino to be licensed in the United States.[35]

poker[edit]

Main article: poker

poker is 's online poker room, launched in July [36]

sport[edit]

Main article: sport

sport is 's sports betting brand. The online bookmaker was launched in March [37] The site offers both horse track betting and sports betting, in addition to access to Holdings' other sites. Sports leagues on which bets can be placed include those of Europe, North America, and elsewhere. This includes live betting, where bets can be placed on in-game action, in addition to pre-game bets. The brand is the title sponsor for the Sport Tingle Creek Chase,[38] in addition to the Sport Magnolia Stakes.[39] In sport became the title sponsor of the Fontwell Park Racecourse, renaming it the sport Grand Stand.[40] sport also works in social media surrounding sporting events, distributing content to its followers form other content sources,[41] and has held online sports video competitions.[42] In March , Holdings[43] paid £15 million for Dublin-based Dedsert Ltd, which provided the sportsbook platform for UK-licensed bookmaker BetBright. CEO Itai Pazner said the acquisition "gives us the missing piece in our proprietary and technology portfolio".[44]

William Hill[edit]

Main article: William Hill (bookmaker)

has owned international bookmakers William Hill since June [19]

Bingo brands[edit]

Holdings owns and operates several different online bingo sites. They offer ball and ball bingo games, along with online slot machine games, progressive jackpots, and scratchcards. The games all run on a no download required basis and have an emphasis on community and chat rooms. In December , com purchased brands including Wink Bingo, Posh Bingo, Tasty Bingo, and RedBus Bingo from Daub.[45][46][47] thisisnl.nl is 's online bingo room. The bingo site was launched in February after acquired online bingo company Globalcom. ladies offers ball, ball and 5-line bingo games as well as instant games, casino games and scratchcards.[48] In January , thisisnl.nl launched a mobile app for iOS devices, and later for Android devices.[49] The site is known for running frequent competitions.[50]

Wink Bingo launched in and is the biggest site in the Joy of Bingo network and the second largest bingo site. 's acquisition of the site was followed by a TV ad campaign that included projecting the Wink Bingo logo onto the Houses of Parliament.[51] Wink Bingo also runs frequent promotions and competitions. In January , Wink launched The Breakfast Club competition, asking readers to photograph their meals and upload them to the Wink Bingo Facebook page for the chance to win ASDA vouchers. The competition received news coverage in Hello! Magazine[52] and Reading Chronicle.[53] Posh Bingo launched in September and underwent a major redesign in March The site has a fashion theme. Tasty Bingo launched in March and is themed around food. RedBus Bingo launched in April and has a London theme. Bingo Street launched in July , and is based on a typical UK street, with rooms titled 'Bingo Supermarket' and 'Bingo Hall'.[54]

Big Brother Bingo launched in January and is based on the reality television show Big Brother[55] on Channel 5.[56] There are also standard cash prizes and polls on the housemates.[55]

thisisnl.nl is the second online bingo site by , after ladies. It was formally launched in December It offers a selection of games including ball and ball bingo, team bingo, slots, instant games, video poker, and table games. 's Facebook app Bingo Appy launched in December [57] offering bingo, casino and slots games via Facebook. It is now the only bingo app on Facebook to permit users to bet and win real money,[58] with Bingo Friendzy's withdrawal.[59] The app offers ball and ball bingo, instant games, scratchcards and freebie rooms. had initially provided a 'freemium' or play-for-fun service on Facebook before the introduction of Bingo Appy.[60]

Sports Illustrated Sportsbook and Casino[edit]

Sports illustrated Sportsbook is a brand that combines and Sports illustrated and offers players sports betting offerings. The company combines sports offerings from in addition to sports data from Sports illustrated and is currently live in the U.S. states of Colorado, Michigan, and Virginia. On February 9, , SI Sportsbook launched its casino product in Michigan, marking the official expansion of the sports book product into the casino space [61]

In March , announced that it would be selling its US online gambling assets to Hard Rock Digital, concluding its strategic review of its US B2C and exiting the US market.[62] The sale is subject to regulatory approvals and other conditions, expected to be finalized in stages by year-end. plans a controlled exit from its US B2C operations by the end of , anticipating a recurring annualized benefit to EBITDA of £25 million starting in , with £10 million reinvested for growth. However, the exit will incur one-off cash costs of approximately £40 million, including a brand license termination fee. Additionally, will end its partnership with Authentic Brands Group, paying $25 million in cash and an additional $25 million by [63]

Senior management and financial[edit]

Gigi Levy was chief executive (CEO) until ; he was paid an annual salary of $, and an annual bonus of $1,, in [64]

In March , Brian Mattingley was appointed as CEO of Holdings.[65] In Mattingley left the position of CEO to assume the position of executive chairman of Holdings.[66]

In January , Holdings elevated chief operating officer Itai Pazner, a year company veteran, to CEO, replacing Itai Frieberger, who had replaced Mattingley as CEO in [67]

It was announced in January that Pazner would be removed from his role as CEO.[68]

See also[edit]

References[edit]

  1. ^ abc"Preliminary Results ". Holdings. Retrieved 26 March
  2. ^" company profile". D&B Hoovers. Retrieved 16 February
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  4. ^"". International Gaming & Wagering Business. p.&#;
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  6. ^"Gambling firm to group sites under global com brand". Marketing Week. 5 January Archived from the original on 2 April Retrieved 19 March
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  10. ^Reuters: UK's buys online bingo firmArchived 3 April at the Wayback Machine
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  13. ^Shaun, Greg (11 February ). "com in $ Billion Acquisition Talks with William Hill".
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  15. ^Roger Blitz (4 November ). " Holdings notches up record revenues". Financial Times. Retrieved 23 March
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  18. ^Pazner, Itai. " Holdings Plc ("" or "the Group") Directorate Change". LSE. Retrieved 28 November
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  34. ^"casino". thisisnl.nl. Archived from the original on 15 December Retrieved 24 December
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  36. ^Alfie Baldwin (9 March ). " Poker Live in London: 5 things we learned". GQ Magazine. Retrieved 11 September
  37. ^"sport bookmaker - Bet Report". Bet Report. Archived from the original on 2 April Retrieved 19 March
  38. ^"Bullets finished for season as Nicholls plots title defence - Horse Racing News - Racing Post". Racing Post. Archived from the original on 24 September Retrieved 27 January
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  40. ^"Fontwell Park Racecourse announces dream sponsorship". Retrieved 27 January
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  42. ^"sport Launch Search to acquire Britain's Best Keepy Up". Daily Express. 20 June Retrieved 27 January
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  55. ^ ab"com rolls out Big Brother Bingo". MediaWeek.
  56. ^"Saturday 27 July". Channel 5.
  57. ^Nick Fletcher (12 December ). " jumps after unveiling Facebook deal, as market moves higher on eurozone and US optimism". The Guardian.
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  62. ^" to Exit US and Sell Assets to Hard Rock Digital". thisisnl.nl. Retrieved 28 March
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  64. ^"Gigi Levy: Executive Profile & Biography". BusinessWeek. McGraw-Hill. Archived from the original on 16 October Retrieved 23 August
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  67. ^" Holdings CEO to step down". Reuters. 24 January Retrieved 24 January
  68. ^Fletcher, Robert (30 January ). "Pazner removed as chief executive". iGB. Retrieved 30 April

External links[edit]

  • Official website: corporatecom
  • on Reuters
Источник: thisisnl.nl

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