Aviad Kobrine Is Stepping Down As 888 CFO, Yariv Dafna To Fill His Shoes

Article by : Helen Sep 23, 2020

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Updated: Mar 24, 2022

After serving 15 years as the Chief Financial Officer of 888 Holdings, Aviad Kobrine has decided to step down from his post, as was announced on January 14, 2020. His successor is now known: Yariv Dafna, a Telit Communications alumni who occupied various senior management positions over the past more than a decade. He will officially take over from Kobrine on November 1, 2020.

Yariv Dafna has a lot on his resume to offer to the new employer. First of all, his career at Telit Communications is diverse: he started his path on the career ladder there in 2003 and took an active part in its Initial Public Offering in 2005, as well as in the fundraising activities that followed the IPO. He served at that company as a Group CFO for five years (2007-2012) and occupied the posts of the Chief Corporate Development Officer, Chief Operational Officer (COO), and a Finance Director on the Board.

Brian Mattingley, Chairman of 888, commented on the appointment of the new CFO: “I am delighted to welcome Yariv Dafna as 888’s new Chief Financial Officer. Yariv’s experience and drive made him the standout candidate for the role, and we are very pleased he has decided to join the Group at such an important time in 888’s continued growth and development.”

I am excited to be joining such a fantastic business at a pivotal time in its development. 888 has world-class technology and a unique platform for continued growth in the dynamic global online gaming market. I am looking forward to helping the business continue to deliver against its strategic objectives and create value for all stakeholders.

Aviad Kobrine had this to say about this successor: “I am incredibly proud of what the 888 team has achieved together throughout my time with the business and I would like to take this opportunity to thank my fantastic colleagues with whom I have had the pleasure and honour of working with over the last 15 years.”

Earlier this year, 888 Holdings also appointed a new Independent Non-Executive Director, Limor Ganot, who officially joined the 888 team on August 1, 2020. She is a managing partner of Gefen Capital, a global advisory board member at Diners Club International, and a board member at Diners Club Israel. Her experience in working with disruptive technologies and a diverse set of businesses, in general, was described as a great asset in the press release regarding her appointment.

888 Holdings started as Virtual Holdings Limited founded in 1997. After 23 years of operating in the gaming industry, it has become the leader of both B2C (90% of the company’s total revenues) and B2B (10%) markets alike. It is focused heavily on developing its 14 B2C products that fall into one of 4 categories: casino (60%), sports (18%), poker (16%), and bingo (8%). 888 Holdings’ B2B operations are concentrated under the Dragonfly brand that functions as the company’s independent division.

The company finished its 2019 financial year with a 10% year-on-year increase in revenues, while casino and sports products showed 17% and 19% year-on-year revenue growth, respectively. Romania, Sweden, and Italy were the fastest-growing markets for 888 Holdings based on customer acquisition rates. As the major share of its revenue comes from online gaming, the company didn’t take as hard a hit as offline casino operators.