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888 Holdings has just announced a new joint venture. The company has invested in an effort with other industry veterans. Additionally, this new company, 888AFRICA, will operate throughout regulated African markets.
New Joint Venture 888AFRICA Launches in Select Markets
888 Holdings PLC has signed a new agreement with a team of online casino industry veterans. This deal is the beginning of a new joint venture that the brands will launch in Africa. Additionally, this new company, 888AFRICA, will operate in select markets across Africa.
888 Holdings has just signed a deal to become a minority stakeholder in a new joint venture that will see 888 content distributed across select African markets via third-party platform.
This latest venture is between 888 and five other longstanding names in the online gambling industry. Currently, 888 has only a minority stake in the deal. However, these terms are able to be changed in the future.
In addition, the current terms state that 888AFRICA is able to pay a licensing fee to access the world-famous branding and content of 888 casinos. However, there will also be a substantial amount of localized content that will specifically appeal to each local market.
888AFRICA is slated to be run by several people who are highly respected in the online casino industry. This includes all of the following members:
- Christopher Coyne, former Chief Marketing Officer and Chief Customer Officer for The Stars Group
- Andrew Lee, former Sportsbook Managing Director at The Stars Group and current chairman of Voxbet
- Alex Rutherford, former Chief Product Officer at Editec Online
- Ian Marmion, former Sportsbook Trading Director for The Stars Group
- Helen Scott-Allen, former Chief Financial Officer of Premier Bet
888AFRICA is currently expected to launch in four markets throughout 2022.
888AFRICA Expected to Usher in an Exciting New Chapter
There is palpable excitement surrounding the launch of this new project.
According to the terms of the agreement, 888 may exercise the option to increase its stake to a controlling share at any point. Additionally, the company may even opt to own 100 percent of the venture later on if it wishes.
Itai Pazner, CEO of 888 Holdings PLC., has expressed delight in the new deal:
“We are very excited to establish 888AFRICA alongside such an impressive roste rof industry talent. The new JV will launch 888s 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 888AFRICAs journey as it grows its footprint and increases brand awareness, while also offering potentially significant long-term opportunities for the Group in the future.”
Christopher Coyne, CEO of 888AFRICA, also commented:
“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.”
About 888 Holdings
888 Holdings PLC is a world leader in the online casino industry. Additionally, the brand has established a strong and authoritative presence throughout the globe. 888 and its subsidiaries have a well-maintained reputation for creating outstanding betting and gaming experiences.
888 has been a staple of the casino industry since 1997. The company has had decades to develop its proprietary technology. This extensive level of experience gives the brand a serious advantage in the online casino sphere. In addition, the brand has two separate lines of business that cater to both sides of online gaming.
The first is a group of B2C companies branded under the 888 name. The second is a B2B offshoot that operates under the Dragonfish name. Both are well-known for conducting professional, top-quality business with all of their partners in regulated markets around the world.
Despite its already stellar reputation, 888 has continued to seek out growth and expansion opportunities. In 2021, the company partnered with Sports Illustrated to form the all-new B2C brand SI Sportsbook. The venture launched in Colorado, and states are quickly adopting it as they open their borders to online gambling.
In addition to all of this, 888 is dedicated to delivering a truly immersive and community-based interactive online gaming experience.