888 said its chief executive has left the company with immediate effect, while the online gaming operator also reported that it has suspended a number of operations in the Middle East in connection with an investigation into compliance with customer regulations.
CEO Itai Pazner’s departure comes just over two weeks after the company announced that Yariv Dafna would step down as Chief Financial Officer. Dafna leaves 888 at the end of March.
Jonathan Mendelsohn, non-executive chairman, will take over the leadership on an interim basis while the gambling company looks for a new CEO. 888 gave no reason for Pazner’s sudden departure.
888 also said it has suspended VIP operations in some of its .com markets pending the outcome of an internal compliance investigation.
It stated that some of its best practices have not been followed regarding know-your-client and anti-money laundering processes for 888 VIP clients in the Middle East.
The company currently expects the suspension to have less than a 3% impact on the company’s revenue.