Three new partnerships will mark 888’s expansion strategy in the United States after the company posted 90% revenue growth in the country so far in2020.
888 to Expand into More US Markets in 2021
888, a leading entertainment brand with a market shift towards the US market, has secured three important partnerships that will see the company expand across America in 2021 and cement its position in multiple jurisdictions.
In just the first 10 months of 2020, 888 posted a 90% revenue growth in the United States, as the company continues to grow and expand with separate link-ups in Colorado, Iowa and Indiana. 888 is pushing ahead with its flagship sports betting brand, 888sport, which is expected to debut in all three states in 2021.
Each state entry is predicated on a partnership with a retail venue. In Colorado, this is the Colorado Grande Casino in Cripple Creek. In Iowa, 888 has teamed up with Catfish Bend Casinos II LLC and lastly, 888 will be joining Indiana’s betting landscape with the help of Harrah’s Hoosier Park.
All three partnerships are considered a pivotal moment for the company’s future strategy. Itai Pazner, 888 CEO, spoke on the occasion, arguing that the company was delighted to have secured three important partners.
Thanks to these alliances, 888 feels confident in its ability to bring a “first class online sportsbook to bettors” in each respective state. The betting and gaming market will remain key trajectories for 888, confirmed Pazner.
Focus on B2C and B2B Segments
The company will focus on both the B2C and B2B segments, which it views with equal weight in the future expansion on the US market and as drivers of opportunities for the company. Strategy, Pazner explained, is a matter of continuous appraisal.
Meanwhile, the company’s second half has been strong in terms of financial performance, driven by poker, iGaming and even sports. One essential element of 888’s success has been its ability to retain customers and continually add to a growing player base.
Strong Results in 2019 and 2020
Results for player acquisition in both 2019 and 2020 have improved the result of previous year, and the company issued a trading update that it expects its revenue in 2020 to be up 45% on 2019’s results. Adjusted EBITDA should be 18.5% higher, the company explained.
888 is facing a peskier regulatory climate in Europe, with Germany and Italy in particular proving a little too difficult. Nevertheless, the United States has remained a promising market with plenty of growing room.
The company has introduced some significant upgrades to its desktop and mobile poker platform and launched a dedicated $1M XL Winter Series poker tournament to celebrate. 888 also agreed to become an official broadcasting sponsor for the English Premier League on NBC Sport, marking the company’s deeper integration with the US market.