888 to cut investment for non-core brands

Gaming operator 888 Holdings’ chief executive officer Itai Pazner has announced a review of the operator’s international brand strategy, warning that the business would reduce investment for brands with a lower potential in a market.

Pazner elaborated on the company’s long-term potential for growth in international markets in the wake of the acquisition of William Hill. This acquisition gives 888 control of three brands: 888, Mr Green and William Hill, in a number of markets.

He also stated that the brand strategy will involve targeted investment in the brands that have the best growth potential depending on the market.

“We’re planning to take the best brands for each market, invest in them and then obviously reduce investments in brands that need to be rationalized and that have a lower potential in each market.

“This gives us an opportunity to put our resources behind the most successful brands with the highest potential for growth in each market rather than investing in all brands and all markets,” Pazner said.

He added that efforts to reduce focus on less successful brands would begin in the fourth quarter of the year.

In July 2022, 888 Holdings acquired the non-U.S. business of William Hill from Caesars for $2.35 billion.

The company also focuses on international expansion with launches of the 888bet brand in Africa’s Tanzania, Zambia, Kenya and Mozambique since this March. 

Additionally, the company’s future growth strategy will be the relaunch in the Netherlands following its exit from the market in October last year. The company stated that it expects the launch to occur in Q4.

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