Cassava Enterprises
Encyclopedia
888 Holdings plc is a company which operates several high-profile gambling
websites. It was founded in 1997 and is a constituent of the FTSE SmallCap Index
.
It has an operating subsidiary, Cassava Enterprises, which is incorporated and operates under the laws of Gibraltar.
Brothers Avi and Aaron Shaked owned approximately fifty percent of the parent-company through family trusts. Another pair of brothers, Shay and Ron Ben-Yitzhak, control approximately eleven percent through a family trust
.
. In 2002 Reef Club Casino and Pacific Poker were launched. In 2003 its administrative center was moved to Gibraltar. It was first listed on the London Stock Exchange
in 2005.
In late 2006 Ladbrokes
and 888.com announced merger discussions. However in April 2007 the companies announced that due to recent changes of Tax laws in the UK and fears of legal actions by the US government, both parties had amicably agreed not to continue discussions.
In March 2007 888 announced its acquisition of Bingo business of Globalcom Limited for up to $43.4 million in cash.
The company operates under a gaming license granted by the government of Gibraltar. Under the terms of the gaming license Cassava Enterprises owns and operates a number of gaming sites (both for real money and educational sites) including:
s, blackjack
, baccarat
, roulette
, craps
, pai gow poker
, keno
, and video poker
. Casino-on-Net also offers free 'practice money' versions of its games.
and other card games. Traditional poker variants are offered, including Texas Hold'em
, Omaha
, and Seven-card stud
. Like Casino-on-Net,888 poker offers free play versions of its games for players who prefer not to risk real money. 888 Poker is Microsoft Windows and Mac compatible. Players can choose to play on the site's software program or on the non-downloadable game version available online.
company, Globalcom. 888ladies offers 75-ball and 90-ball bingo games.
s and more.
site. The online bookmaker was launched in March 2008. Bets can be placed on a variety of sporting events including horseraces, cricket, football, rugby and other events, such as the Big Brother
television programs. 888sport is currently offered in six countries: Germany
, Spain
, Denmark
, Sweden
, Austria
and the United Kingdom
.
, Spain
, and the United Kingdom
.
by the US Congress
three days before.
On 14 August 2007, the US Department of Justice
asked to recoup all profits made by the company in the US. This would amount to nearly $120m for 888.
. In 2006, 888.com became the main sponsor of the World Snooker Championship
but terminated the five-year contract in August 2008 after just three years. 888poker sponsors Shane Warne
.
In 2005 and again now in 2011, 888.com was the sponsor of the 888.com Premier League Darts
.
Gambling
Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods...
websites. It was founded in 1997 and is a constituent of the FTSE SmallCap Index
FTSE SmallCap Index
The FTSE SmallCap Index is an index of small market capitalization companies consisting of the 351st to the 619th largest listed companies on the London Stock Exchange main market...
.
It has an operating subsidiary, Cassava Enterprises, which is incorporated and operates under the laws of Gibraltar.
Brothers Avi and Aaron Shaked owned approximately fifty percent of the parent-company through family trusts. Another pair of brothers, Shay and Ron Ben-Yitzhak, control approximately eleven percent through a family trust
Trust law
In common law legal systems, a trust is a relationship whereby property is held by one party for the benefit of another...
.
History
The business was founded by Avi and Aaron Shaked and Shay and Ron Ben-Yitzhak in May 1997 as Virtual Holdings Limited. Casino-on-Net was launched at that time and an administrative centre was established in AntiguaAntigua
Antigua , also known as Waladli, is an island in the West Indies, in the Leeward Islands in the Caribbean region, the main island of the country of Antigua and Barbuda. Antigua means "ancient" in Spanish and was named by Christopher Columbus after an icon in Seville Cathedral, Santa Maria de la...
. In 2002 Reef Club Casino and Pacific Poker were launched. In 2003 its administrative center was moved to Gibraltar. It was first listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
in 2005.
In late 2006 Ladbrokes
Ladbrokes
Ladbrokes plc is a British based gambling company. It is based in Rayners Lane in Harrow, London owned by Bhavin Kakaiya. From 14 May 1999 to 23 February 2006, when it owned the Hilton hotel brand outside the United States, it was known as Hilton Group plc...
and 888.com announced merger discussions. However in April 2007 the companies announced that due to recent changes of Tax laws in the UK and fears of legal actions by the US government, both parties had amicably agreed not to continue discussions.
In March 2007 888 announced its acquisition of Bingo business of Globalcom Limited for up to $43.4 million in cash.
Operations
888.com
888.com is Cassava's flagship website. It serves primarily as an 'easy to remember' location and brand and encapsulates Casino-on-Net and Pacific Poker websites. Although it houses no games of its own, 888 is often billed as 'the largest casino website on the Internet'.Casino-on-Net / 888casino
Casino-on-Net is Cassava's online casino branch. It was originally launched in May 1997 and has served 13 million people. The site offers a number of traditional casino games for play, including slot machineSlot machine
A slot machine , informally fruit machine , the slots , poker machine or "pokies" or simply slot is a casino gambling machine with three or more reels which spin when a button is pushed...
s, blackjack
Blackjack
Blackjack, also known as Twenty-one or Vingt-et-un , is the most widely played casino banking game in the world...
, baccarat
Baccarat
Baccarat is a card game, played at casinos and by gamblers. It is believed to have been introduced into France from Italy during the reign of King Charles VIII , and it is similar to Faro and Basset...
, roulette
Roulette
Roulette is a casino game named after a French diminutive for little wheel. In the game, players may choose to place bets on either a single number or a range of numbers, the colors red or black, or whether the number is odd or even....
, craps
Craps
Craps is a dice game in which players place wagers on the outcome of the roll, or a series of rolls, of a pair of dice. Players may wager money against each other or a bank...
, pai gow poker
Pai gow poker
Pai Gow poker is an Americanized version of Pai Gow . The games of Pai Gow poker and Super Pan-9 were created by Sam Torosian and Fred Wolf.The game is played with a standard 52-card deck, plus a single joker...
, keno
Keno
Keno is a lottery or bingo gambling game often played at modern casinos, and is also offered as a game in some state lotteries. A traditional live casino keno game uses a circular glass enclosure called a "bubble" containing 80 balls which determine the ball draw result. Each ball is imprinted...
, and video poker
Video poker
Video poker is a casino game based on five-card draw poker. It is played on a computerized console similar in size to a slot machine.-History:...
. Casino-on-Net also offers free 'practice money' versions of its games.
Reef Club Casino
Reef Club Casino is a casino offering by Cassava which features an 'underwater' theme. It was launched in May 2002 as a more fantasy-style alternative to the real-world style of Casino-on-net. It offers a selection of games similar to that of Casino-on-Net, and also allows players to play for 'practice money' if they prefer not to use real money.888poker
888poker.com is Cassava's online poker room branch . It was launched in July 2002 and focuses exclusively on variants of pokerPoker
Poker is a family of card games that share betting rules and usually hand rankings. Poker games differ in how the cards are dealt, how hands may be formed, whether the high or low hand wins the pot in a showdown , limits on bet sizes, and how many rounds of betting are allowed.In most modern poker...
and other card games. Traditional poker variants are offered, including Texas Hold'em
Texas hold 'em
Texas Hold 'em is a variation of the standard card game of poker. The game consists of two cards being dealt face down to each player and then five community cards being placed face-up by the dealer—a series of three then two additional single cards , with...
, Omaha
Omaha hold 'em
Omaha hold 'em is a community card poker game similar to Texas hold 'em, where each player is dealt four cards and must make his best hand using exactly two of them, plus exactly three of the five community cards...
, and Seven-card stud
Seven-card stud
Seven-card stud is a variant of stud poker. Until the recent increase in popularity of Texas hold 'em, seven-card stud was the most popular poker variant in home games across the United States, and in casinos in the eastern part of the country. Two to eight players is common, though eight may...
. Like Casino-on-Net,888 poker offers free play versions of its games for players who prefer not to risk real money. 888 Poker is Microsoft Windows and Mac compatible. Players can choose to play on the site's software program or on the non-downloadable game version available online.
888ladies
888ladies.com is Cassava's online bingo room. The bingo site was launched in February 2008 after 888 acquired online bingoOnline bingo
Online bingo is the game of bingo played on the Internet. It is estimated that the global gross gaming yield of bingo was US$500 million in 2006, and it is forecasted to grow to $1,000 million by 2010....
company, Globalcom. 888ladies offers 75-ball and 90-ball bingo games.
888bingo
888bingo.com is Cassava's second online bingo site after 888ladies. With a totally different look and feel, 888bingo was formally launched on December 2009. It offers the players a wide selection of games such as 75 and 90 ball bingo, team bingo, slots, instant games, video poker, table gameTable game
In casinos, the term table game is used to distinguish games such as blackjack, craps, roulette and baccarat that are played on a table and operated by one or more live dealers like a croupier or poker dealer, as opposed to a games played on a mechanical device like a video slot machine...
s and more.
888sport
888sport.com is Cassava's sports bettingSports betting
Sports betting is the activity of predicting sports results and placing a wager on the outcome.-United States of America:Aside from simple wagers such as betting a friend that one's favorite baseball team will win its division or buying a football "square" for the Super Bowl, sports betting is...
site. The online bookmaker was launched in March 2008. Bets can be placed on a variety of sporting events including horseraces, cricket, football, rugby and other events, such as the Big Brother
Big Brother (TV series)
Big Brother is a television show in which a group of people live together in a large house, isolated from the outside world but continuously watched by television cameras. Each series lasts for around three months, and there are usually fewer than 15 participants. The housemates try to win a cash...
television programs. 888sport is currently offered in six countries: Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
, Denmark
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
, Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
, Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
and the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
888games
888games.com is Cassava's casual gaming site. Hosts a variety of games, from video slots to scratch cards, table games and calssic casino games in a non download platform. 888games currently offered in three countries: GermanyGermany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
, and the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
.
US players
On 2 October 2006, 888 Holdings announced that it had indefinitely suspended business from US customers in light of the passage of the Unlawful Internet Gambling Enforcement Act of 2006Unlawful Internet Gambling Enforcement Act of 2006
The Unlawful Internet Gambling Enforcement Act of 2006 is United States legislation regulating online gambling. It was added as Title VIII to the SAFE Port Act which otherwise regulated port security...
by the US Congress
United States Congress
The United States Congress is the bicameral legislature of the federal government of the United States, consisting of the Senate and the House of Representatives. The Congress meets in the United States Capitol in Washington, D.C....
three days before.
On 14 August 2007, the US Department of Justice
United States Department of Justice
The United States Department of Justice , is the United States federal executive department responsible for the enforcement of the law and administration of justice, equivalent to the justice or interior ministries of other countries.The Department is led by the Attorney General, who is nominated...
asked to recoup all profits made by the company in the US. This would amount to nearly $120m for 888.
Sponsorship
Since 2004, 888.com group has been the main sponsor of the Middlesbrough Football Club, with the 888.com name on the club's strip, but was replaced in August 2007 . More recently the 888.com group has become the main sponsor for Sevilla Football ClubSevilla FC
Sevilla Fútbol Club S.A.D. is a Spanish professional football club based in Seville, Spain that plays in the Spanish La Liga championship.They are one of the most successful clubs in Spanish football having won a 1 La Liga title, 5 Spanish "Copa del Rey" Cups, 1 Spanish Super Cup and 2 UEFA...
. In 2006, 888.com became the main sponsor of the World Snooker Championship
World Snooker Championship
The World Snooker Championship is the leading professional snooker tournament in terms of both prize money and ranking points. The first championship was held in 1927; since 1977, it has been played at the Crucible Theatre, Sheffield, England...
but terminated the five-year contract in August 2008 after just three years. 888poker sponsors Shane Warne
Shane Warne
Shane Keith Warne is a former Australian international cricketer widely regarded as one of the greatest bowlers in the history of the game. In 2000, he was selected by a panel of cricket experts as one of the five Wisden Cricketers of the Century, the only specialist bowler selected in the quintet...
.
In 2005 and again now in 2011, 888.com was the sponsor of the 888.com Premier League Darts
Premier League Darts
The 888.com Premier League Darts is a darts tournament which launched on January 20, 2005 on Sky Sports, and is currently the world's largest indoor sports event. The league is now played weekly from February to May, having originally started as a fortnightly fixture...
.