8. 888 Holdings (2018)
Financials: Group revenue fell 5%cc in H1 to $273.2m as UK revenues declined 18% thanks to responsible gambling measures and fierce competition
Strategy & impact: Has focused much on its mass-market proposition and major product upgrades
Geographic reach: The firm is uniquely positioned in America where it is online in three states, and is increasingly focused on Italy and Spain where revenues are growing fast
Influence & leadership: Took a negative hit last year due to its UKGC fine but started taking steps to become more compliant and responsible before most of the industry[/su_box]
The rise up the list for 888 is more a function of consolidating rivals rather than any great expansion, as the operator has struggled with the ever-tightening UK regulatory environment. The operator reported an 18% decline in UK revenues for H1 2018, as the firm felt the pinch from responsible gambling measures and fierce competition.
However, 888 says it has turned the corner, reporting “very positive KPIs in the UK” and predicting it will start regaining market share as other firms start implementing their own RG measures. As part of its transition to a new business model, the firm is pivoting to a more “mass-market proposition”. Group CEO Itai Frieberger said: “That’s a decision we, as an operator owning our technology can make. We can try new models and we believe that those will bring positive returns in the UK going forward.”
On that note, he said 888 is also rolling out some major product upgrades in the near future, with its AI-powered casino platform, Orbit, to be launched across a number of major regulated markets. Group COO Itai Pazner said the platform was vital to the recreational pivot, adding: “[Orbit] gives us the brains in the back-end and flexibility to do clever segmentation and add things to the platform that can add value.”
Elsewhere, 888 plans to introduce new features to 888sport and launch ‘Poker 8’, its “next generation poker platform”.
Away from the UK market, things look more positive for the operator as well, with H1 revenues from regulated markets excluding the UK up some 30%, driven by Spain and Italy.
But perhaps the biggest opportunity comes in the US, where 888 now operates poker, casino and sports in New Jersey. 888 recently inked the first partnership in the US between an online operator and an NFL team thanks to its deal with the New York Jets that sees 888 promoted at Jets home games and on the official team site.
In a telling move about the firm’s future, 888 relocated its senior vice-president and head of commercial development, Yaniv Sherman, to New Jersey to spearhead the operator’s expansion in the US.