Long-serving Kobrine to depart as 888's financial chief

14 January 2020

Online gaming operator 888 has announced that Aviad Kobrine, its long-serving chief financial officer, is to step down from the role later this year after 15 years with the business.

888 did not state when Kobrine will leave the position, but did confirm that he will remain in the role until a successor is in place.

Kobrine joined 888 in 2004 ahead of the operator’s initial public offering (IPO), taking on the role of CFO in June of 2005. According to 888, Kobrine has played a major role in the operator’s progress and growth during his time as CFO.

“I would like to take this opportunity to thank the fantastic team at 888 with whom I have had the pleasure and honour of working over the last 15 years,” Kobrine said. “I am incredibly proud of what we have achieved together throughout my time with the business.”

888’s chairman Brian Mattingley said Kobrine had "made a truly outstanding contribution to 888".

"He has played a significant role in helping to develop 888 into the world-class online gaming operator it is today," Mattingley said. "Over recent years, he has supported 888's growth into new markets whilst also helping the group to successfully manage and navigate significant changes in our industry. On behalf of everyone at 888, I would like to wish Aviad every success for the future.”

888 chief executive Itai Pazner added: “On behalf of the entire 888 team I would like to thank Aviad for his significant contribution to the group. I would also like to extend my personal gratitude to Aviad for his support and friendship over the years."

Kobrine is the latest senior financial executive to reveal that he will be stepping down from his position. In recent days, William Hill confirmed Ruth Prior will depart as its CFO to take up the same role with Element Materials Technology in the private sector, while software supplier GAN appointed Karen Flores as its new CFO.

The announcement comes after 888 last week revealed it is on track to achieve adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in line with expectations for 2019, citing a record revenue performance in December.

The operator did not publish any figures, but did reveal in a post-close trading update that its performance during the 12 months to 31 December, 2019 was underpinned by ongoing success with its Orbit casino platform and further growth in sports betting.