888 Holdings has joined forces with industry veterans to form 888Africa. The new subsidiary will be responsible for handling popular 888 gambling brands in Africa. The move marks the start of a planned push into the African market. Though 888 Holdings is currently investing a minority stake in the venture, hinting at a stance of caution. The option does exist for the company to own a 100% stake in the future.
The industry veterans that make up the new 888Africa are respected in the global gambling industry. Some of the big names include Christopher Coyne, Andrew Lee, Alex Rutherford, Ian Marmion, and Helen Scott-Allen. All come with an impressive corporate pedigree. All hold major positions at gambling firms and have been in the industry for decades.
Heading to Regulated African Markets
As far as specifics are concerned 888Africa will operate independently. The new subsidiary will pay a brand license fee to 888 Holdings. In exchange, all the mega-corporation brands and technology will be made available. Though localization restructuring will be necessary for much of the content. With this arrangement, the new company will head into a multitude of key African markets. Four, in particular, are being chosen to lead the charge over the course of 2022.
CEO of 888 Holdings, Itai Pazner, shared some thoughts on the development. He first stressed that he is excited about the prospects of 888Africa. Pazner went on to say that the industry talent heading up the project is impressive. The CEO elaborated that although the African expansion is exciting, it is being launched with due caution. He pointed out that the other core businesses and markets of his company will in no way be impacted.
Pazner concluded that Africa holds particularly good long-term opportunities.
Building Market Leading Positions
CEO of 888Africa, Christopher Coyne, shared some insights of his own. He first confessed delight at launching the new subsidiary. He explained that he and his team are not only experienced in the gambling industry but also have crucial knowledge of the African market.
He continued that he aims to put down roots and offer world-class gambling in Africa. This will allow for the establishment of strong positions, he elaborated, opening the way for further expansion. Coyne concluded that he and his team are ready to support the future growth plans of 888 Holdings.
This major expansion marks the start of another big gambling industry push into Africa.