SBC News Voice of the Sports Betting Industry
888 Holdings has significantly bolstered its North American growth prospects, confirming this morning that it is amongst the first foreign operators to secure an Ontario province licence.
Updating investors, the FTSE250 online gambling group confirmed that its B2C online gambling platform had been awarded an igaming licence by the Alcohol and Gaming Commission of Ontario (AGCO).
Ontario’s online gambling market is expected to launch on 4 April. The AGCO that is finalising regulatory standards has so far confirmed the approval of six operators including 888.
The AGCO approval sees 888 secure its 19th regulated market licence, in which 888 currently operates across seven US wagering approved states.
Ahead of publishing its full-year 2021 results on Wednesday 9 March, the firm disclosed that “revenue from locally regulated and taxed markets representing 74% of 2021 revenue”.
Itai Pazner, CEO of 888 Holdings Plc, commented: “We are delighted to have been awarded a licence by the AGCO and look forward to launching in the market when it officially opens.
“As a group, our focus is on strengthening our presence and offer to customers across key regulated markets. To that end, Ontario represents an attractive long-term growth opportunity for 888 and this is an extremely strategically important milestone for us.
“As we prepare for launch in the coming weeks, we are excited to bring all of 888’s leading products and games to new audiences across the province, providing our unique and differentiated experiences to players.”
