888AFRICA hits one million customers as operator plots further expansion
JV set to head into fifth market by end of 2023 as CEO Christopher Coyne champions progress made since launch
888AFRICA has reached more than one million players on its platforms across Africa less than 12 months after launching.
888AFRICA went live with its 888bet brand in Kenya, Mozambique, Tanzania and Zambia in October 2022 and has reported impressive financial results since its launch.
According to 888’s H1 report, 888AFRICA is noting strong month-on-month revenue growth, with a 25% CAGR (compound annual growth rate) between January and July.
The JV is also profitable and cash generative on a run-rate basis, with further expansion pegged following the acquisition of BetLion last month.
The group plans to expand into a fifth market later this year, with 888AFRICA holding a licence in the Democratic Republic of Congo.
888AFRICA said: “888AFRICA’s one million player milestone is a major step in the group’s ambitions to significantly scale up across Africa.
“Its strong player base provides a platform for 888AFRICA to grow the brand, evolve its products and features and create more locally relevant campaigns. This will, in turn, help establish 888AFRICA’s market-leading positions in various regulated markets across the continent.”
To mark the landmark moment, 888AFRICA hosted a Carnival of Celebrations for the group’s one-millionth player, Antonio David Candoza.
The activation saw Candoza handed the reward of a free bet every day for 12 months, along with a parade in Maputo, Mozambique attended by VIPs and African influencers.
Christopher Coyne, 888AFRICA CEO, said: “This is a proud day for all at 888AFRICA. Less than 12 months on from our market launch, we are quickly becoming a firm favourite of players across the continent – reflected in our engaged and growing customer base.
“This also demonstrates the continued strength of our brands – which includes our first acquisition of BetLion – our products, and innovative and locally relevant marketing campaigns.
“We are only at the start of our journey and have a highly experienced team, including more than 95 colleagues in Africa who are focused on executing the next phase as we continue to work towards building market-leading positions across Africa,” the CEO added.