888 Holdings launches into three US states

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888 Holdings PLC (LON:888) has signed three multi-year market access agreements to launch in the US states of Colorado, Indiana and Iowa.


It comes as the company is increasing investment into the US amidst new gaming regulations in Germany.


The US launch will initially be under the 888Sport brand for 2021, the company noted.


888Sport will operated be under the licence of the Colorado Grande Casino, in Colorado, under licence to Catfish Bend Casinos in Iowa and in Indiana it will operate under agreement with Caesars Entertainment owned Harrah’s Hoosier Park.


“We are delighted to sign these agreements with three great partners,” said Itai Pazner, 888 chief executive.


“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.”


At the same time, 888 provided a trading update highlighting a strong operational performance in the second half. 888 said it expects revenue and adjusted earnings (EBITDA) for the full year will be ahead of prior expectations.


Revenue is expected to be approximately 45% ahead of 2019 while adjusted EBITDA margin is expected to be around 18.5%, consistent with the first half of the year.


Pazner added: “we are pleased with 888’s trading during the second half of 2020.”


“We have continued to prioritise safe gambling and recognise the impact of COVID-19 on the lives of 888’s customers across global markets.”

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