{"id":268,"date":"2024-06-27T22:57:35","date_gmt":"2024-06-27T19:57:35","guid":{"rendered":"https:\/\/cryptoleocasinonodepositbonus.icu\/2024\/06\/27\/888-is-placing-its-bets-on-new-territories-to-counterbalance-a-decline-in-established-markets-in-2022\/"},"modified":"2024-06-27T22:57:35","modified_gmt":"2024-06-27T19:57:35","slug":"888-is-placing-its-bets-on-new-territories-to-counterbalance-a-decline-in-established-markets-in-2022","status":"publish","type":"post","link":"https:\/\/cryptoleocasinonodepositbonus.icu\/2024\/06\/27\/888-is-placing-its-bets-on-new-territories-to-counterbalance-a-decline-in-established-markets-in-2022\/","title":{"rendered":"888 is placing its bets on new territories to counterbalance a decline in established markets in 2022"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/sKYIry4XJgI\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>888 is placing its bets on new territories to counterbalance a decline in established markets in 2022 &#8211; Strategy &#8211; iGB<\/p>\n<p>The online gaming operator 888 Holdings is aiming to leverage its brand recognition in Germany, the Netherlands, and Ontario to counteract a slowdown in its existing operations in mature markets such as the UK in 2022.<\/p>\n<p>Home > Strategy > 888 is placing its bets on new territories to counterbalance a decline in established markets in 2022<\/p>\n<p>888 is placing its bets on new territories to counterbalance a decline in established markets in 2022<br \/>\nDuring the 2021 earnings discussion, 888&#8217;s Chief Financial Officer Yariv Dafna and Chief Executive Officer Itai Pazner indicated that 888 is already a well-known name in these recently or soon-to-be regulated markets, enabling it to achieve further expansion.<\/p>\n<p>Pazner specifically emphasized Germany, the Netherlands, and Ontario as key areas for the upcoming year.<\/p>\n<p>\u201cWe have experience in these markets, we have brand recognition, we have dedicated teams, we have marketing materials, we have everything we need to make these markets a significant part of our growth country portfolio,\u201d he explained.<\/p>\n<p>These three markets represent a total addressable market of approximately $10 billion. \u201cSo, from that perspective, it\u2019s bigger than the UK, arguably one of the largest markets globally. Now, with marketing open, we\u2019re able to operate under local regulations, and we see this as the most important global opportunity after the US.\u201d<\/p>\n<p>Our strategy is to penetrate all these markets, naturally, contingent upon regulatory clearance.&#8221;<\/p>\n<p>The firm currently possesses a sports wagering permit in Germany, issued under the nation&#8217;s Third State Gambling Agreement. No operators have yet secured licenses for virtual casinos, but 888 is among numerous entities operating under a &#8220;transitional arrangement,&#8221; agreeing to implement the stipulations of the country&#8217;s Fourth State Treaty, such as the \u20ac1 cap on slot machines, to circumvent enforcement measures.<\/p>\n<p>In the Netherlands, 888 barred all patrons in the marketplace after regulations shifted unexpectedly following the market&#8217;s commencement on October 1 of the preceding year, with numerous other well-known brands following suit. The operator indicated that it anticipates re-entering the marketplace in the latter half of 2022.<\/p>\n<p>Simultaneously, in Ontario, the company has been awarded a permit authorizing it to operate when the province&#8217;s online gambling marketplace opens on April 4.<\/p>\n<p>These novel markets could contribute to mitigating the impact of stagnant or declining expansion in the mature UK marketplace, which constituted 40% of 888&#8217;s 2021 earnings. After a particularly robust performance in the initial half of the year in the UK, revenue in the latter half diminished by 20% in comparison to the initial half.<\/p>\n<p>CFO Yariv Dafna observed that alterations in responsible gambling policies \u2013 the event that ultimately resulted in the Gambling Commission levying a \u00a39.4 million fine on 888 \u2013 were a contributing factor to the decline in UK revenue during the latter half of 2020. <\/p>\n<p>A primary factor contributing to the commission&#8217;s penalty against 888 was their establishment of a \u00a340,000 deposit limit for comprehensive financial verifications. Dafna stated that this limit has been decreased to approximately \u00a320,000, and numerous game wagering restrictions have also been lowered.<\/p>\n<p>Dafna stated, &#8220;I can confirm that all of these limits have been significantly decreased. In the GC&#8217;s announcement, they referenced a \u00a340,000 limit prior to conducting source of funds checks. This limit has been halved, and numerous other limits have also been significantly reduced.<\/p>\n<p>&#8220;We have implemented numerous changes to our responsible gaming platform. We initiated this endeavor in the final quarter of 2020, but it wasn&#8217;t until the middle of the year that we truly finalized everything. Therefore, in a sense, the latter half of the year has already reflected a new set of regulations on our compliance platform.<\/p>\n<p>&#8220;Thus, you can consider it as bringing us to the standard of 2022.&#8221;<\/p>\n<p>Pazner indicated that one successful aspect of 888&#8217;s performance was their in-house game studio &#8211; Section8. Due to this success, the operator will enhance investment in the project, aiming to increase the number of games released annually from around 15 to 25-30.<\/p>\n<p>Pazner explained, &#8220;This has been a very robust asset for us for several years, and it&#8217;s fair to say, a hidden jewel in our portfolio. These games have performed well among all the top studios in the industry.&#8221; <\/p>\n<p>He stated that 888&#8217;s exclusive games are contending with outside content and aren&#8217;t receiving any preferential treatment, yet they consistently top the operator rankings.<\/p>\n<p>&#8220;Therefore, we determined to boost our investment in this field to enhance our market share for our games, which is clearly more financially advantageous for us, and from a customer experience standpoint, we can provide more distinctiveness.&#8221;<\/p>\n<p>The business strategy is to finalize the acquisition of William Hill&#8217;s non-US holdings in the second quarter of 2022, but Pazner mentioned that he and Dafna have limited influence over the business at this stage.<\/p>\n<p>Analysts at Regulus Partners have identified four possible approaches for 888 to tackle the difficulties it faces in 2022 and beyond, following the takeover.<\/p>\n<p>Regulus proposes that 888 could utilize the William Hill brand to establish itself as a more relaxed brand to avoid &#8220;regulatory scrutiny.&#8221;<\/p>\n<p>It could also strive to ensure that William Hill&#8217;s retail products themselves, as well as through marketing, are improved. Increased localization could also contribute to expanding market share in existing regions, just as it could bolster efforts in emerging territories. <\/p>\n<p>Traditionally, 888 has not prioritized these factors as core strengths. However, if they can achieve this, we believe the company will transform from a seasoned online gambling expert with a struggling UK traditional betting operation into a stable and balanced growth engine. Regulus stated.<\/p>\n<p>Subscribe to the iGaming news newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>888 is placing its bets on new territories to counterbalance a decline in established markets in 2022 &#8211; Strategy &#8211; iGB The online gaming operator 888 Holdings is aiming to leverage its brand recognition in Germany, the Netherlands, and Ontario to counteract a slowdown in its existing operations in mature markets such as the UK [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>888 Expands to New Markets Amidst UK Slowdown<\/title>\n<meta name=\"description\" content=\"888 Holdings is looking to Germany, the Netherlands, and Ontario to offset a decline in its UK operations. 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