In a strategic move to capitalize on the burgeoning online gaming industry in Africa, renowned gaming operator 888 has announced its investment in 888Africa. This partnership aims to leverage local market preferences and deliver innovative gaming experiences to African players. With a minority stake in 888Africa, 888 retains the option to increase its ownership to 100% in the future.
888Africa’s Licensing Agreement:
Under the agreement, 888Africa will pay a brand license fee to utilize and operate 888’s online betting and gaming brands in regulated African markets. To cater to local preferences, the content will be provided through a third-party technology platform. This collaboration opens up new avenues for 888 to introduce its world-class gaming brands to millions of African customers, tapping into the region’s fast-growing online gaming market.
Expert Leadership:
Heading this venture are industry professionals with deep expertise in the gaming sector. Christopher Coyne, former Chief Marketing Officer and Chief Customer Officer at The Stars Group, leads the team as CEO of 888Africa. Andrew Lee, former MD for Sportsbook of The Stars Group and current Chairman of Voxbet, also brings his extensive sportsbook experience to the table. The team is further bolstered by Alex Rutherford, former Chief Product Officer at Editec Online, Ian Marmion, former Sportsbook Trading Director at The Stars Group, and Helen Scott-Allen, former CFO of Premier Bet.
Expansion Plans:
888Africa has ambitious plans for expansion within the African market. Subject to licensing, they aim to launch their operations in four markets during 2022. This strategic move aligns with their goal of establishing market-leading positions in selected regulated markets across the region. The combined expertise of the 888Africa team and the support of 888’s renowned brand position them well for achieving their growth targets.
Long-Term Opportunities for 888:
For 888 Holdings, this investment offers not only short-term growth prospects but also long-term opportunities in the African market. By partnering with 888Africa, 888 gains access to a world-class brand and a team of experts dedicated to driving their growth plans. This collaboration allows 888 to expand its footprint and increase brand awareness in Africa while keeping focus on their core business and key strategic markets.
Unlocking Potential with African Markets:
The establishment of 888Africa underscores the immense growth potential of the African online gaming market. With a large and increasingly connected population, the region offers a fertile ground for online gaming operators. As more Africans embrace digital platforms, the demand for exciting and localized gaming experiences continues to rise. Through their collaboration with 888Africa, 888 is poised to unlock this potential and meet the needs of African players.
The investment in 888Africa represents a strategic move by 888 Holdings to tap into the thriving African online gaming market. This partnership, led by industry professionals and backed by a world-class brand, sets the stage for 888 to offer innovative gaming experiences tailored to African preferences. As 888Africa expands its presence across regulated markets in Africa, both companies stand to benefit from the growth opportunities and long-term prospects that the African market presents.