888 Holdings CEO Brian Mattingley is to step down from the day-to-day running of the company next year and become chairman as part of a management reshuffle, the company has said in a statement.

888 Holdings

888 will promote current COO Itai Frieberger to chief executive in January 2015.

After three years as CEO, Mattingley, will take over from current non-executive chairman Richard Kilsby who is set to retire next year.

The move was announced as 888 reported a 27 per cent rise in earnings (EBITDA) to $49m in the six months to June 30. Revenues rose by 13 per cent to $225.1m in the same period.

Mattingley said of the results: "Whilst the outcome for the full year will be dependent on trading in the second half we continue to look forward with confidence as we further develop the business.”

He added that trading in New Jersey had been slower than anticipated but he believed that business would pick up as the authorities relaxed some constraints.

Source: Reuters