Global online betting and gaming operator, 888 Holdings, has announced the establishment of a new joint venture, 888Africa. This venture aims to extend 888’s presence in online betting and gaming markets across select regulated regions in Africa. The joint venture will launch 888’s renowned brands, targeting millions of potential customers in the rapidly growing African online market. Led by a team of industry experts, 888Africa is poised to make a significant impact in the African gaming industry.
888’s Investment in the Venture:
888 Holdings has made an initial investment in 888Africa, securing a minority stake in the joint venture. Additionally, 888 has the option to increase its stake, ultimately gaining full control and ownership of 888Africa, up to 100%.
Leadership Team:
888Africa will be led by a group of industry veterans with a wealth of experience. The quintet includes Christopher Coyne, former Chief Marketing Officer and Chief Customer Officer at the Stars Group, and Andrew Lee, former Managing Director of Sportsbook at the Stars Group and current Chairman of Voxbet. Alex Rutherford, former Chief Product Officer at Editec Online, Ian Marmion, former Sportsbook Trading Director at The Stars Group, and Helen Scott-Allen, former Chief Financial Officer of Premier Bet, complete the impressive leadership team.
Operational Details:
The joint venture will operate 888’s online betting and gaming brands across select regulated markets in Africa. To facilitate this, 888Africa will pay a brand license fee to use and manage 888’s brands in specific African markets. The brands will be hosted on a third-party technology platform, with a focus on tailoring products and content to suit the preferences of the local African market.
Market Expansion Plans:
888Africa has ambitious plans to launch its operations in four African markets during 2022, pending regulatory approval. This expansion is expected to introduce 888’s world-class brands to a new customer base and drive growth in the African online betting and gaming sector.
Statements from 888 CEO and Chief Executive of 888Africa:
Itai Pazner, Chief Executive of 888 Holdings, expressed excitement about establishing 888Africa, emphasizing the potential for growth in the African online market. He highlighted the strategic significance of this venture in expanding 888’s global presence while allowing the company to focus on core markets and strategic objectives.
Christopher Coyne, who will serve as Chief Executive of 888Africa, shared his enthusiasm for the joint venture, citing the team’s expertise and knowledge of African markets. He affirmed the ambition to achieve market-leading positions in selected regulated African markets and praised the partnership with 888 for providing access to a world-class brand and a team of experts to support growth plans.
888 Holdings’ launch of 888Africa represents a strategic move to capitalize on the burgeoning African online betting and gaming market. With a seasoned leadership team and a commitment to offering tailored products to local markets, 888Africa is poised for success in its expansion across the African continent. This venture aligns with 888’s global growth strategy and positions the company as a key player in the African gaming industry’s evolution.