Online sports betting platform 888 Holdings has signed a 3-year market access deal on Wednesday for the 888sports brand to service Iowa, Colorado, and Indiana early next year. In Iowa, the operator is signed with the Catfish Bend Casinos II; For Colorado, it will launch in Cripple Creek under the license of the Colorado Grande Casino; In Indiana, 888 has signed under the Harrah’s Hoosier Park license.
With these agreements, 888 is expected to achieve a higher milestone in its expansion strategy in the U.S online gambling industry, and 888 will now be active in 6 states, being already present in Nevada, New Jersey, and Delaware online gambling markets. All three states are among the top 10 gambling-friendly U.S states, so 888’s entry into the states will not affect the states’ positions on the Index. However, the entry is beneficial to the operator.
Itai Pazner, the CEO, said the new agreements would allow 888 to supply its premium quality online sportsbook to punters in Colorado, Indiana, and Iowa. He also said, "The U.S online gambling market has huge growth potential, and we will keep developing powerful growth propositions to players across our B2B and B2C operations”. The Head of Commercial Development, Yaniv Sherman, also commented on the benefit of expanding 888sports.com into the 3 U.S states.
He said, “We have infused our proprietary technology in the U.S, and our entertaining range of new products will supply a top-quality platform to players across the B2B and B2C operations. We continue to embrace strategic collaborations to ensure increased brand building and market access deals for 888 across the U.S gambling market soon.”
Alongside the three (3) market access agreement, the operator has also provided a trading update indicating a strengthened operational performance during the second half of the financial year. According to the 888 group, the performance is indicative of the increased customer acquisition within 2019 and 2020, the advantage of the continual improvement in customer behavior towards digital services, the introduction of newer products, and increased emphasis on responsible gambling and player protection.
After the announcement on Wednesday, 888 Holding Plc shares were traded up 2.20% up to $278.50 per share on the London Stock Exchange.
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