Exclusive: 888's US chief to exit after 14 years
London-listed operator commences search for new US chief as Yaniv Sherman departs for pastures new
888 SVP for the US Yaniv Sherman will step down from his role in early 2022 after more than a decade with the London-listed operator, EGR can exclusively reveal.
The departure is understood to be entirely amicable, with 888’s employees already having been informed of the change.
EGR can reveal 888 have already begun a search for Sherman’s replacement, with Sherman confirming that he would remain with 888 during a transition period.
Speaking exclusively to EGR, an 888 spokesperson said: “We can confirm that Yaniv Sherman, 888’s SVP Head of US, will be leaving the group at the end of 2021 after more than 14 years with the company.
“Yaniv has filled different roles through his tenure, most recently relocating to the US for three years, laying the foundations for 888’s exciting long-term North American growth strategy.
“This strategy included its extended partnership with Caesars and the recent signing, and successful launch, of the SI Sportsbook brand,” they added.
888 also confirmed the operator had initiated its recruitment process for Sherman’s replacement.
The spokesperson noted: “A recruitment process for a new Head of US is underway and the Group will make a further announcement in due course. On behalf of everyone at 888, we would like to thank Yaniv for his contributions to the business and we wish him the very best for the future.”
Sherman, who has been with the firm for nearly 15 years, joined 888 in 2007 as SVP and head of business development and sales, while also serving the dual role of head of commercial development.
In January, Sherman transitioned to become 888’s head of US, overseeing the most frenetic period of US expansion in the operator’s history.
888 has historically focused on igaming in the US, operating the World Series of Poker (WSOP) brand in partnership with Caesars Entertainment, but largely stayed out of the sports betting market.
In comments made in October 2020, however 888 CEO Itai Pazner suggested a change in direction, following the rollout of important changes to the business’ proprietary technology.
This infrastructure encompasses a modular back-end platform, boasting the group’s Orbit online casino, Poker 8 platform and Spectate sportsbook, allowing 888 to launch much faster into new markets.
Pazner revealed his ambition to expand into two to four new states per year in order to compete with DraftKings, BetMGM and US market leader FanDuel.
The firm would later sign sportsbook market access deals in Colorado, Iowa and Indiana.
However, the biggest propellant in this strategic pivot occurred in July, when 888 concluded a wide ranging strategic partnership with US magazine Sports Illustrated (SI) to develop an SI sportsbook.
Additionally, 888 is set to go live in Virginia via its joint venture with SI after securing a provisional sports betting licence from the Virginia Lottery.
The SI Sportsbook will begin trading in the Old Dominion in 2022, with the latest market access deal taking its presence into its ninth state.