Key Moments:
- Kenny Alexander initiated civil litigation against the UKGC in London, alleging breaches of privacy.
- Entain agreed to pay more than £585 million ($790 million) following an investigation into Headlong’s activities in Türkiye.
- Negotiations for a stake in 888 Holdings ended after the UKGC warned of a license review due to an ongoing HMRC probe.
Leadership Under Scrutiny
Kenny Alexander, previously the CEO at Entain, formerly GVC Holdings, has launched a civil lawsuit against the UK Gambling Commission (UKGC) in London. He is contesting what he describes as privacy violations linked to the abortive attempt to acquire a significant stake in 888 Holdings.
Alexander, known for steering Entain from a smaller AIM-listed player into a FTSE 100 gambling powerhouse between 2007 and 2020, has been charged with bribery, fraud, and tax offenses stemming from the company’s earlier activities in Türkiye through its subsidiary, Headlong.
Attempted 888 Holdings Takeover and Regulatory Roadblocks
In June 2023, after having departed from Entain, Alexander and former chairman Lee Feldman acquired a 6.5% stake in 888 Holdings via FS Gaming, intending to assume leadership roles at the company. However, progress on this plan stalled when the UKGC indicated that 888 would face a license review should the transaction proceed, due to an ongoing criminal investigation by the UK tax authority (HMRC) into allegations of bribery in Türkiye between 2011 and 2018—issues that were previously unknown to 888.
The investigation, initiated by HMRC in November 2019, initially targeted third-party suppliers before broadening in July 2020 to include Headlong itself under the UK Bribery Act. Prosecutors focused on whether GVC/Entain had failed to prevent corrupt conduct within its Turkish operations.
| Event | Date | Details |
|---|---|---|
| FS Gaming acquires stake in 888 Holdings | June 2023 | Alexander and Feldman purchase 6.5% stake with plans for leadership roles |
| UKGC halts 888 negotiations | June 2023 | Deal stopped following UKGC license review warning due to HMRC probe |
| Entain agrees to penalties | 2023 | Pays over £585 million ($790 million) for breaches related to bribery investigation |
Legal Action and Personal Fallout
Following the breakdown of merger talks, Alexander and Feldman each filed lawsuits against the UKGC, alleging the regulator “misused private information and/or breach of confidence” and improperly shared details with 888 Holdings regarding their proposed transaction. They further contend 888 released a statement ending the deal without providing them an opportunity to respond to regulator concerns.
Feldman shared in his testimony, “ostracized by my peers,” that he had been unable to work for two years and expressed concern about the long-term reputational impacts on his family.
This civil trial is expected to continue for several weeks.
- Author
Daniel Williams
