888 Co-Founder Aharon Shaked Dies Aged 58

In 1997, when most people could not even spell the internet, Israeli entrepreneur Aharon Shaked saw the future which is why he co-founded an online gambling firm with his brother Avi and two other brothers, which would evolve into the huge 888 Holdings. Aharon passed away on Saturday aged 58.

As one of the true pioneers of the online gambling world, Shaked and his associates had a vision about how the internet could be used to bring casino games to people in their homes with just a few mouse clicks. That was the basic premise then and still is now as 888 Holdings continues to grow in leaps and bounds.

The firm Aharon co-founded was called Virtual Holdings Limited, which developed and launched popular online casino, Casino-on-Net, which is still in operation today. In 2002, the company launched Reef Club Casino as well as its first online poker room, Pacific Poker, both also still popular websites today.

In 2003 Virtual Holdings Limited relocated from Israel to the online gambling-friendly jurisdiction of Gibraltar and two years later was listed on the London Stock Exchange, now known as 888 Holdings Plc. It was at that point that Aharon and Avi Shaked made their fortunes, each becoming instant billionaires.

However, according to reports Aharon was not changed by his new found wealth. In fact, there are accounts that he donated a lot of his money to charities and other worthy causes. As to what caused his death at such a relatively young age, he had reportedly been fighting a long battle with an undisclosed illness.

Since its humble beginnings last century, 888 Holdings has evolved into an online gambling powerhouse. And while its original brands still attract players from all over the world, it now also offers online bingo via its state-of-the-art 888ladies.com site as well as online sports betting via its 888sport.com site.

In 2008 888 Holdings generated $256.9 million in online gambling revenues.

"We're doing well all over the place, even in retail