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Gabi Campos, the managing director of 888's strongest-performing division, its business-to-business arm Dragonfish, is leaving the company.
888 has announced that Gabi Campos is leaving his position as managing director of its business-to-business arm Dragonfish. He will be replaced temporarily by Gigi Levy, chief executive of 888.
Campos’ departure “to pursue new challenges” comes in the wake of 888’s full-year results, which again showed Dragonfish to be the star performer against an overall decline in the company’s figures.
Dragonfish has grown significantly in the last 18 months, providing US$51.3m of 888 Holdings’ US$246.7m operating income last year, a US$12.7m (33%) rise on its 2008 results.
In a recent interview with eGaming Review, Levy said that 888 is “constantly looking at” spinning off Dragonfish, “because it could be traded at better multiples”, reflecting the fact that the B2B arm has performed significantly better than 888’s business-to-consumer (B2C) products.
Dwindling profits for 888 have led to falls in its share price this year, prompting speculation the company is ripe for a takeover.
Dragonfish has secured contracts with US casino operator Harrah’s for UK-facing Caesar’s-branded casino and poker sites, and with Bwin Italia. The B2B arm also recently extended two key bingo licensee deals, with PartyGaming-owned Cashcade, the operator of Foxy Bingo, and Costa Bingo.
Dragonfish has been shortlisted for two awards at the eGaming Review B2B Awards: bingo network of the year and bingo supplier of the year. The B2B Awards will take place on the first night of EGR Live, eGaming Review‘s free conference and exhibition in London this month.