888 Is Making Excellent Progress In Africa
888, one of the oldest gambling brands on the internet, seems to be making huge advancements in Africa. The recent landmark combinations are causing widespread optimism for the company.
The New Brands
CEO of 888, Itai Pazner, stated that the company aims to establish a three-pillar framework to deliver “long-term sustainable growth”. This business move, as Pazner says, will lead them to “huge progress” in the African market and perhaps beyond.
All of this is happening in an incredibly lucrative and successful period for the company. Additionally, this is lauded as being due to the closure of the 888’s William Hill transaction in addition to an array of different market entities. “And in terms of access to the William Hill brand, obviously, we have access to the William Hill brand everywhere outside of the US.
Moreover, Itai Pazner adds, “This has been an incredible period for the business, the most significant transformation in the 21 years that I have been in 888,”. His key development sites seem to be Ontario, Virginia, and four African regulated markets.
Their newly established 888bet brand will see launches in Tanzania, Kenya, Zambia, and Mozambique. This new brand has been realized just after the 888Africa venture that was established in March of this year. 888bet will be focusing on sports betting and gaming. Pazner said that sports betting is the main market in Africa.
888 Three-Part Strategy
With the William Hill deal, 888bet and 888Africa, the 888 brand in general is becoming quite strong. Their strategy includes the investment of resources in regions that boast “the most attractive opportunities”, Pazner adds.
Their goal is to reinforce sustainable practices and supporting growth for the African market and beyond. Furthermore, this combination is being praised as combining “some of the industry’s strongest brands”. Nearly six million customers served via 888, William Hill, and Mr Green over the past year.
With their strong start in the early period of this year, Pazner is looking confidently ahead. He adds that “extensive M&A activity” has given the group a “platform to create a world leader in online betting and gaming”. Additionally, while it is early to talk about 2023, their priorities seem to focus on synergies between their brands. Finally, “We remain confident in our plans and outlook, including the midterm target of 3x leverage.”, Yariv Dafna, CFO of 888, added.
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