Gambling magnate proffers $1 billion for peace agreement

Avi Shaked, an Israeli Internet tycoon behind gambling conglomerate 888 Holdings, made an unprecedented declaration to Reuters this week. He said he has arranged for $1 billion to be contributed if the leaders of Israel and Palestine sit down and reach a peace agreement.

The billionaire Shaked, 53, and his brother Aaron are the major shareholders in 888 Holdings, the parent company of notable gambling Web sites and Pacific Poker.

In an interview with Reuters last Wednesday, Shaked said he has an international consortium of financiers ready and willing to contribute the money immediately if a deal can be reached.

An initial payment of $100 million will go to the Palestinians if their prime minister, Ismail Haniyeh, and Israel's Ehud Olmert begin talks.

"My initiative is to both leaders," Shaked said in the interview. "Please sit down, start negotiations and try to reach an agreement."

"The moment that both sides will reach an agreement, this private equity that I am offering will immediately invest $1 billion. The first 10% will be invested immediately when the negotiations start."

The offer comes in the midst of recent reports of a takeover of 888 Holdings by U.K. bookmaker Ladbrokes, Plc.

Related Articles:

Rumors Swell of 888 Holdings Takeover
Ladbrokes Confirms Talks to Buy 888 Holdings
888 Holdings Sees Increase in Revenue

About Christopher Hunt

Chris joined the PokerListings team in 2006, bringing with him over eight years of experience as a writer/editor for national magazines, alternative arts weeklies, community newspapers and online media.

Some of the highlights: Six years as a writer/editor in a major international ski resort, plus an internship at one of the Web’s first e-zines in New York City. Some of the lowlights: Covering pet parades and DWIs for a very, very small community newspaper.

Originally signing on as a news writer, he was part of the live tournament team at the 2007 WSOP and now handles marketing and commercial writing for Poker-wise, he leans toward No-Limit Hold’em – preferably shorthanded tables and turbo sit-and-gos.

You May Also Like


Daily 3-Bet: Millionaire Chess, Big SHRPO Overlay, Hellmuth Owns Greenstein

The PokerListings Daily 3-Bet is a three-move strategy that always gets you to the endgame of the mid-afternoon poker news world.

01 September 2014

Daily 3-Bet: Ivey Down $5m, $10m Florida Dream, One-Tabling FTW

The PokerListings Daily 3-Bet is a one-way ticket to Miami, a spot on a hotel-room floor and a few days of run-good between you and...

29 August 2014

Rant: I Don’t Want to Watch a 40-min Video of Somebody Folding

My son played his first football match today, and as a father it was one of the proudest moments of my life.

29 August 2014

Daily 3-Bet: Galfond Iced, Gus v. Isildur, Prahlad v. Almonds

The PokerListings Daily 3-Bet is a bag of almonds, a freshly tuned Vitamix and one thirst-quenching glass of afternoon poker news livin'.

28 August 2014 1

Please fill the required fields correctly!

Error saving comment!

You need to wait 3 minutes before posting another comment.

Comment added. Thank you!

No Comments