888 debuts sportsbook in Africa6th October 2022 9:49 am GMT
888 Holdings has launched its online sportsbook in four African nations through the 888Africa joint venture.
888bet is now live under local licenses in Kenya, Tanzania, Mozambique and Zambia, with customers in Zambia also gaining access to 888’s full online casino offering.
The company said that all of the African launch markets have attractive, long-term growth potential, with the African gambling market forecast to reach $5.6 billion by 2030.
“We are delighted to hit our target and launch into four regulated markets within six months of founding the business,” said 888Africa chief executive Chris Coyne.
“This is an important milestone that provides us with fantastic opportunities for further expansion in the future. We have enormous ambitions and believe the strength, history and trust of the 888 brand gives us a real competitive advantage as we look to build market-leading positions across Africa. We look forward to introducing 888bet and its unique offer to new players across the region in the months ahead.”
888Africa was formed earlier this year to serve as 888’s vehicle into the African market, with the London-listed operator currently holding a minority stake in the business, which it aims to increase to a majority shareholding by 2027.
“It is great to see Christopher and his team successfully launch 888bet in Kenya, Tanzania, Mozambique and Zambia and begin 888Africa’s growth story on the continent,” said Itai Pazner, chief executive of 888 Holdings.
“As a region with significant potential, we are excited to watch 888Africa continue to develop its offer and launch new and exciting products for players over the coming years and months, while introducing consumers to the fantastic 888 brand.”
Shares in 888 Holdings plc. (LSE:888) were trading 4.11 per cent higher on the news at 100.30 pence per share in London Thursday morning.