Chief Executive of Dragonfish leaves

In a sudden announcement it has been revealed that Gabi Campos, who was the Chief Executive of Dragonfish, the business-to-business division of 888, has left the company to pursue his own personal projects. He will be replaced by Gigi Levy, the 888 Chief Executive until a replacement is found, which is expected to be announced within the next month.

Dragonfish is the bingo software provider to several large online bingo brands, including Costa Bingo, Think Bingo, Wink Bingo, Foxy Bingo and the recently launched Bingoyard. It was launched in March 2009 with Campos in charge. He had been in the company for nearly 2 years then, and had overseen the acquisition of Globalcom, the software provider to brands such as Mirror Bingo, Bingo Scotland and Foxy Bingo. Dragonfish was conceived to provide a business-to-business service to media companies who wanted to enter the bingo, casino, sportsbook and poker world but with lower overheads. Dragonfish was launched at the same time as a deal to power the Racing Post’s online gambling operations was announced.

An unidentified source who has knowledge of 888’s operations has said; “The relationship between Gabi and Gigi seems to have become increasingly strained, especially as Dragonfish is perceived as the only growth area of the business. Gabi definitely saw it as his own kingdom and would have liked to have eventually seen it spun-off. In the end it was his personal decision to leave. It definitely didn’t help that 888 failed to buy both GTS and Cashcade, both of which they were in a position to execute and then didn’t do so. There was a feeling that these two could have been key deals and to lose them to Playtech and Party doesn’t look good to the City, especially at a time when profits are dropping. But you should remember that 888 is hugely cash generative and it would be silly to write them off.”

We recently reported how 888 had surprised the City with a profits warning, although at the same time they said that internet bingo was the shining light in an otherwise gloomy report.

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