Gambling giant 888 launches African joint venture as online betting market swells
Gambling giant 888 makes a major move into the African market, signing an agreement with industry specialists to form 888Africa.
This joint venture will operate 888 brands in the regulated online betting and gaming space within the continent, with content being offered via a third-party tech platform. Products and games will also be designed for local preference within the African market.
South Africa is the largest market on the continent, and gaming revenue is projected to grow to $2.3bn by 2023.
As more and more countries look to regulate within the region, the African online gambling market attracting more and more attention from foreign investors.
888Africa will be headed by Christopher Coyne, Ian Marmion and Andrew Lee from The Stars Group, as well as Alex Rutherford of Editec Online, and Helen Scott-Allen, the former CFO of Premier Bet.
“We are very excited to establish 888Africa alongside such an impressive roster of industry talent”, said chief executive Itai Pazner.
Calling the African market “exciting and fast-growing”, the new venue will expose the brands to millions of new customers.
888Africa CEO Christopher Coyne said: “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”.