888 Co-Founder Aharon Shaked Dies Aged 58

In 1997, before most people could even spell the word "Internet," Israeli entrepreneur Aharon Shaked saw the future and, along with his brother Avi and two other brothers, founded an online gambling company that would grow into the giant 888 Holdings. One of the true pioneers of the online gambling world, Shaked and his associates had a vision of how the Internet could be used to bring casino games to people's homes with just a few clicks of a mouse. That was the basic premise then and it still is today as 888 Holdings continues to grow by leaps and bounds.

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

In 2003, Virtual Holdings Limited moved 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 this point that Aharon and Avi Shaked made their fortunes, each becoming instant billionaires.

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

From its humble beginnings in the last century, 888 Holdings has grown into an online gambling powerhouse. And while its original brands still attract players from around the world, the company now offers online bingo through its state-of-the-art 888ladies.com site, as well as online sports betting through its 888sport.com site. In 2008, 888 Holdings generated $256.9 million in online gaming revenue.

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