888 Holdings / Evoke plc: The Israeli-Founded Online Gambling Pioneer

888 Holdings — now Evoke plc (LSE: EVOK) — is the Israeli-founded online gambling pioneer that became one of the largest listed sports betting and casino operators in Europe. Founded in May 1997 as Virtual Holdings Limited by two sets of Israeli brothers — Avi and Aaron Shaked and Shay and Ron Ben-Yitzhak — the company launched Casino-on-Net in 1997 as one of the world's first online casinos, listed on the London Stock Exchange in 2005, acquired William Hill's international business for £1.95 billion in 2022, and rebranded to Evoke plc in May 2024. Headquarters in Gibraltar; engineering out of Tel Aviv.

The 1997 Founding

Avi and Aaron Shaked and Shay and Ron Ben-Yitzhak founded Virtual Holdings Limited in May 1997. The company launched Casino-on-Net the same year — one of the first online casinos on the internet. The administrative center was initially established in Antigua, then relocated to Gibraltar in 2003 as the Gibraltar online-gaming licensing regime became the industry standard for European operators.

The founding move was to take a category — casino gaming — that had been geographically constrained to physical properties, and to strip out the physical layer. That thesis proved correct through the poker boom of the early 2000s and the subsequent expansion into sports betting, bingo, and online gaming across regulated European markets.

The Poker Boom and the London IPO

In July 2002, 888 launched 888poker, positioning into the fast-growing online poker category as Chris Moneymaker's 2003 World Series of Poker Main Event win (from an $86 online satellite) catalyzed the global poker boom. In 2002, 888 also launched Reef Club Casino and Pacific Poker. By 2006 the group consolidated its consumer marketing under the single "888" brand.

888 Holdings listed on the London Stock Exchange in 2005. It became a constituent of the FTSE 250 index. The IPO gave the founding families a public-market exit path and provided currency for subsequent acquisitions.

The U.S. Retreat and Return

The Unlawful Internet Gambling Enforcement Act of 2006 forced 888 to indefinitely suspend business with U.S. customers on October 2, 2006. In August 2007, the U.S. Department of Justice sought to recoup all profits generated from U.S. players. The company re-entered the U.S. market beginning in 2013 through partnerships with Avenue Capital Group, and became the first exclusively online casino to be granted a U.S. license (in Delaware). By 2015, four of the five legal U.S. online gambling websites were operated by 888 (three in Delaware, one in Nevada). In 2018, 888 became the sole owner of the All American Poker Network.

The 2015 William Hill Approach That Didn't Close

In February 2015, 888 confirmed that William Hill was in advanced takeover talks to acquire 888 for approximately $1.47 billion (£750 million). The transaction did not proceed. Seven years later 888 acquired William Hill instead — a reversal of the direction of the deal that reshaped the U.K. gambling sector.

The 2022 William Hill Acquisition

In May 2022, 888 shareholders approved the acquisition of William Hill's international (non-U.S.) business from Caesars Entertainment. The transaction closed in June 2022 at approximately £1.95 billion. It brought William Hill's 1,400+ U.K. retail betting shops into the 888 portfolio, marking the group's entry into physical retail sports betting alongside its online business. The combined portfolio positioned 888/William Hill as one of the two or three largest U.K. gambling operators by revenue.

The 2024 Evoke Rebrand

On May 30, 2024, the group changed its holding company name from 888 Holdings plc to Evoke plc. The 888, 888casino, 888poker, 888sport, William Hill, and Mr Green consumer brands remained in market. The rebrand reflected the multi-brand operating model post-William Hill and coincided with a leadership shift and value-creation plan under CEO Per Widerström.

Core markets are the U.K., Italy, Spain, Romania, and Denmark, together accounting for roughly 90 percent of revenue. Business operations are led from Gibraltar, with satellite offices in Bucharest, Ceuta, Leeds, London, Malta, Sofia, and Tel Aviv. The Israeli engineering base remains a material technology anchor for the group.

The Ben-Yitzhak Loss and the Founder Legacy

On May 2, 2020, co-founder Shay Ben-Yitzhak died in an ultralight plane crash near Yakum, Israel, at age 52. His eleven-year-old son sustained minor injuries. Ben-Yitzhak had been one of the four founding partners of what became the largest Israeli-founded gambling company in history.

The 2026 Bally's Intralot Approach

In April 2026, Evoke disclosed acquisition discussions with Bally's Intralot, the Greek lottery-and-online-gaming firm that in October 2025 had acquired Bally's International Interactive for €2.7 billion. Public reporting placed the potential Evoke transaction at a valuation of approximately £225.3 million ($304 million) — well below the £1.95 billion 2022 William Hill acquisition price and reflecting the compression of European online-gambling multiples through the 2024–2026 regulatory cycle. Discussions are ongoing at the time of publication.

Why 888 Matters to the Israeli Gambling-Tech Story

888 was the founding franchise of the Israeli-founded online gambling industry. Playtika, NeoGames, SciPlay, Kambi, and Aristocrat's Israeli operations all emerged into a category that 888 had defined a decade earlier. The Tel Aviv engineering base seeded much of the technical and product management talent that populated the subsequent Israeli gambling-tech cluster.

For adjacent Israeli gambling-tech coverage, see NeoGames, SciPlay, and Aristocrat's Israeli Backbone and How the Operators Rebuilt in Regulated Markets.

Frequently Asked Questions

Who founded 888 Holdings?
Two sets of Israeli brothers — Avi and Aaron Shaked and Shay and Ron Ben-Yitzhak — founded the company as Virtual Holdings Limited in May 1997.

When did 888 list on the London Stock Exchange?
2005. Currently listed as Evoke plc (LSE: EVOK), a constituent of the FTSE 250.

How much did 888 pay for William Hill?
Approximately £1.95 billion for William Hill's international (non-U.S.) business, closing in June 2022. The acquisition brought more than 1,400 U.K. retail betting shops into the portfolio.

Why did 888 Holdings rebrand to Evoke?
The May 2024 rebrand consolidated the holding company identity around the multi-brand operating model that emerged from the William Hill acquisition. Consumer brands (888casino, 888poker, 888sport, William Hill, Mr Green) remained in market.

What happened to the founders?
Shay Ben-Yitzhak died in an ultralight plane crash near Yakum, Israel, on May 2, 2020, at age 52. The other three co-founders have stepped back from operating roles; the CEO from 2023 is Per Widerström.