It has been announced today by leading betting and gaming operator, 888 Holdings, that a new brand will be launched as a joint venture in the African regulated market, 888AFRICA.
888AFRICA is to be the new brand as part of a strategic investment by the corporation, in which the firm will license and launch ‘world class’ sports betting and iGaming brands across regulated markets in Africa.
The public announcement by 888 comes after an agreement was signed between five ‘industry veterans’ to set-up and launch 888AFRICA, with a minority stake in the company initially, but with the ability to increase the stake to take control, or even own 100% of the brand in the future.
According to reports, the new brand will be lead by former big-hitters of leading online gambling firms around the world, including the former Chief Marketing Officer and Chief Customer Officer at The Stars Group Christopher Coyne, former managing director of Sportsbook of The Stars Group and current Chairman of Voxbet Andrew Lee, former Chief Product Officer at Editec Online, a leading provider of technology to Sports Betting and Gaming operators in Africa Alex Rutherford, former Sportsbook Trading Director at The Stars Group Ian Marmion and former CFO of Premier Bet Helen Scott-Allen.
Additionally, the new joint venture will pay a license fee to operate online sports betting and iGaming brands from 888 in selected African regulated markets.
What’s more, the brands will utilise third party technology for its operations to bring a series of gambling products and content that is specifically designed and selected for localised markets in Africa.
Furthermore, during the current year, the new venture has planned to launch across an initial four regulated markets in Africa, subject to licensing and regulatory requirements and approval.
One of the core appeals of this new project is reportedly the quality and profile of the leadership team that will bring a wealth of industry knowledge and experience to the forefront of the 888AFRICA operation, in combination with the ability and opportunity to tap in to millions of new customers in a fast growing market.
Christopher Coyne of 888AFRICA commented on the new brand launch:
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.
Itai Pazner of 888 Holdings also commented on the new joint venture and what it means for gambling enthusiasts in Africa:
We are very excited to establish 888AFRICA alongside such an impressive roster of industry talent. The new JV will launch 888’s 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 888AFRICA’s journey as it grows its footprint and increases brand awareness, while also offering potentially significant long-term opportunities for the Group in the future.