888 makes debut in Africa
The UK gaming giant has kicked off its expansion into Africa with licences in Tanzania, Mozambique and Zambia.
UK.- The UK gaming operator 888 has announced the launch of its African joint venture, 888AFRICA, which is starting with licences in four East African countries: Kenya, Tanzania, Mozambique and Zambia. It plans to expand further in the region.
The FTSE 250 gambling company, which now owns William Hill and Mr Green in Europe as well as SI Sportsbook in the US, announced the launch of 888AFRICA in March. It will initially have a minority stake but has an option to increase this up to 100 per cent.
888AFRICA will pay a licence fee to 888 and its brands will be operated through a third-party technology platform. It said its products and content would be designed to meet local preferences. Its offering is available in Swahili, Portuguese and English.
Christopher Coyne, formerly chief marketing officer and chief customer officer at the Stars Group, is chief executive of the venture. He’s supported by Andrew Lee, who was managing director of sportsbook at Stars Group and is now chairman of Voxbet, and Alex Rutherford, former chief product officer at Editec Online.
They’re joined by Ian Marmion, former Stars Group sportsbook trading director, and Helen Scott-Allen, who served as chief financial officer of Premier Bet.
888AFRICA’s team said it has focused on customer experience and has achieved 85 per cent coverage of mobile network operator payments in its debut markets. 888bet offers cash out, jackpots and free to play while 888casino offers 1,500 casino games in Zambia. Future launches are planned in other markets subject to licensing.
888 said that with the African gambling market expected to reach $5.6bn by 2030, it hopes to capitalise on growing demand.
Coyne said: “We are delighted to hit our target and launch into four regulated markets within six months of founding the business. This is an important milestone that provides us with fantastic opportunities for further expansion in the future.
“We have enormous ambitions and believe the strength, history and trust of the 888 brand gives us a real competitive advantage as we look to build market-leading positions across Africa.”
888 Holdings CEO, Itai Pazner, said: “It is great to see Christopher and his team successfully launch 888bet in Kenya, Tanzania, Mozambique and Zambia and begin 888AFRICA’s growth story on the continent.
“As a region with significant potential, we are excited to watch 888AFRICA continue to develop its offer and launch new and exciting products for players over the coming years and months while introducing consumers to the fantastic 888 brand.”
888Holdings reported a 14 per cent increase in full-year revenue for 2021 despite a decline in the fourth quarter.
The company’s revenue for the year ended December 31 rose to $972m, although Q4 revenue fell 16 per cent compared with 2020, when pandemic-related lockdowns drove online gaming and betting. The company completed its acquisition of William Hill’s non-US assets in the second quarter of this year.
