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UPDATE 1-Gambling firm 888 Holdings names lobbyist Jonathan Mendelsohn as chair

(Adds shares, details on incoming chair)

Sept 23 (Reuters) - Online gambling firm 888 Holdings on Wednesday named British lobbyist Jonathan Mendelsohn as its chairman designate, replacing former chief executive and current chair Brian Mattingley.

Mendelsohn, who has more than more than 20 years of industry experience, will take over the role after Mattingley’s departure at the next annual general meeting in May 2021, 888 said.

Mendelsohn’s appointment comes at a time when the UK’s betting industry faces intense regulatory scrutiny and store closures driven by coronavirus-led lockdowns.

The FTSE-250 firm appointed Mendelsohn as its non-executive director as well, 888 Holdings said, adding that he also joined the board’s remuneration and audit committee.

The company’s shares opened 1.8% higher at 184.6 pence in early trading.

Mendelsohn previously co-founded Oakvale Capital, which is a leading M&A and strategic advisory boutique focusing on the gaming, gambling and sports sectors.

Reporting by Samantha Machado in Bengaluru; Editing by Devika Syamnath

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