Former CEO Of GVC Holdings Sues The UK Gambling Commission

Kenny Alexander, the former CEO of GVC Holdings, and Lee Feldman, its ex-chairman, have filed a lawsuit against the UK Gambling Commission, alleging breaches of privacy and confidentiality. The legal action stems from the regulator’s handling of sensitive information during its review of licensing issues involving 888 Holdings in 2023.

The controversy arose when Alexander and Feldman, through FS Gaming Investments LLC, acquired shares in 888 and proposed leadership roles within the company.

• Alexander was set to become CEO

• Feldman was lined up for a senior board position

However, the Gambling Commission launched a licensing review in July 2023, citing concerns over an ongoing HMRC investigation into alleged bribery during GVC’s operations in Turkey under their leadership. These concerns led to the collapse of their leadership bid at 888, which has since rebranded as Evoke plc.

The lawsuit accuses the Commission of mishandling private information by publicizing their concerns through a press release and regulatory announcements in early 2024. The claimants argue that this disclosure created a misleading narrative, implying wrongdoing without offering them a chance to respond.

They contend that the release of the information violated the Commission’s own publicity code, which restricts sharing details of ongoing investigations to avoid unfairly associating individuals with unsubstantiated claims.

Key arguments of the claimants include:

• The information was unwarranted and unnecessary, as their leadership roles had already been withdrawn

• The disclosure caused significant financial and reputational damage

• The release contradicted the principle established in the Supreme Court’s ruling in Bloomberg v ZXC, which protects privacy during preliminary investigations

Alexander and Feldman argue that the Commission’s actions not only violated confidentiality but also created an undue perception of guilt, undermining their professional standing and causing lasting harm.

Following the fallout, 888 Holdings appointed Per Widerstrom, former CEO of Fortuna, as its new chief executive in July 2023. The leadership change formed part of a broader effort to address regulatory challenges and stabilize operations.

The Gambling Commission has declined to comment on the lawsuit, citing its policy of not discussing ongoing legal proceedings. However, the case raises important questions about the balance between regulatory transparency and the protection of individual privacy during sensitive investigations.