888 Holdings launches ambitious African joint-venture
It has been somewhat of a last 12 months for global online gambling 888 Holdings, following the acquisition of William Hill’s non-US assets and obtaining licenses to launch in a number of new markets.
However, the firm’s latest move is arguably one of their most adventurous to date, which has seen them, partner, with key individuals in the iGaming industry to launch 888Africa. Four key markets on the continent have been identified for the launch of the brand, pending licence approval.
Interesting market opportunity
Over the last couple of years, improvements to infrastructure, especially technology have seen Africa become an intriguing prospect in the global online gambling industry. Considerable improvements to telecommunications (particularly broadband) and most recently, the establishment of a thriving fintech community have attracted a significant amount of investment.
This has all helped to bring a number of industries together; online gambling, as has been the case over the last few years, cannot function without robust internet, while there is an ever-increasing reliance on mobile technology, in addition to fintech with customers wanting more secure and reliable payment options.
888 is a company that for a long time has been at the forefront of technological development in the online gambling industry, even having its own B2B (business-to-business) that creates and develops games for both in-house and external brands.
The joint-venture will see 888 partner with Christopher Coyne, former Chief Marketing Officer and Chief Customer Officer at The Stars Group, Andrew Lee, former MD for Sportsbook of The Stars Group and current Chairman of Voxbet.
News greeted with optimism
Following news of the new venture, Chief Executive of 888 Holdings, Itai Pazner, revealed: “We are very excited to establish 888Africa alongside such an impressive roster of industry talent. The new JV will launch 888’s world-class online betting and gaming brands to millions of new customers in the exciting and fast-growing African online market. The structure of this deal enables the Group to invest in a strong business with high growth ambitions, without distracting focus from our core business and key strategic markets.
“We look forward to being a part of 888Africa’s journey as it grows its footprint and increases brand awareness, while also offering potentially significant long-term opportunities for the Group in the future.”
Meanwhile, *Christopher) Coyne, 888Africa CEO, added: “We are delighted to launch 888Africa alongside 888. With our team of experienced professionals and significant knowledge of the African markets, it is our ambition to build the business towards market-leading positions in selected regulated markets across the region. Partnering with 888 will give us access to a world-class brand, as well as a broad team of experts to support our growth plans, further enhancing our confidence in our future prospects.”