Online Gambling Company 888 Loses Co-Owner Aharon Shaked

The land-based casino industry was booming back in the late 1990,s, and Aharon Shaked had a vision that the online gaming community could be as big, if not bigger, than the land-based versions. That belief led Shaked to create 888 Holdings, along with his brother, Avi Shaked, in 1997.

On Saturday, Aharon Shaked passed away at the age of fifty-eight. The exact cause of death is unknown, but Israeli news site The Marker, reported that Shaked had been battling an illness.

888 Holdings became publicly traded on the London Stock Exchange back in 2005, and the brothers made a fortune as the principle owners of the company. The change is financial fortune did not change Shaked.

He remained low key and spent much of his fortune giving to charities. The brothers had no experience in gambling when they began, but they knew that gambling on the Internet would become something huge.

Around the world, Internet gambling has become one of the top forms of entertainment. The US has the largest online gambling market, but the country is currently in flux with their Internet gambling regulations.

Other countries have fully embraced online gambling, and are reaping the benefits from the bulging industry. In Europe, Internet gambling is regulated in many countries, with other countries working on laws to allow the popular form of gambling.

January 4, 2010
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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