December 2, 2020 Sports Betting, Casino, Poker, Online

888 Holdings extends presence in US through multi-year deals

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Operator now live in six states after signing three new deals.

888 Holdings has signed three multi-year deals to launch in the US states of Indiana, Colorado and Iowa in 2021.

The online operator announced the agreements alongside its latest trading update, where it said its annual core profit and revenue will exceed prior expectations.

888Sport will launch under the license of the Colorado Grande Casino in Cripple Creek, Colorado, under Catfish Bend Casino in Iowa, and with Harrah’s Hoosier Park in Indiana, which is owned by Caesars Entertainment.

The company has now launched in six states across the US.

Itai Pazner, 888 Holdings CEO, said: "We are delighted to sign these agreements with three great partners that will enable 888 to bring its first-class online sportsbook to bettors in Colorado, Iowa and Indiana.

"The US online betting and gaming market has huge growth potential, and we continue to build a strong platform for growth across both our B2B and B2C operations."

888 also announced revenue is expected to be 45% ahead of 2019, with EBITDA expected to be 18.5%, consistent with the margin achieved in the first half of 2020.

The firm stated it has benefitted from the shift towards online betting amid the ongoing coronavirus pandemic.

“In addition, we are pleased with 888's trading during the second half of 2020,” added Pazner. “This performance continues to reflect strong FTD trends in line with the group's recreational customer focus; as well as the structural shift towards online services being seen across several consumer-facing industries."”

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