New 888 CEO: We’re “always looking at opportunities” for proprietary technology
Newly-installed chief exec Itai Pazner tells EGR the operator has been speaking with “several sportsbooks” but remains happy with Kambi
888’s new CEO Itai Pazner has reiterated that the operator is “always looking for opportunities” to take control of its sportsbook technology, despite being happy with its current Kambi-powered solution.
Speaking to EGR last week after taking over the 888 top job from Itai Freiberger, Pazner was asked about the firm’s proprietary sportsbook ambitions, which were first made public back in 2015 when the operator was linked with bwin.party.
“It’s something we haven’t been hiding,” Pazner said. “Kambi is a great provider but we always looking for opportunities in that world. From a certain scale, companies need to revisit their strategy of using their own tech or outsourcing.
“We’re a company that has traditionally built our systems in-house for poker and casino. We own some components of the sports product but some are owned by Kambi. That’s part of our strategic thought.”
Pazner declined to name specific targets, adding: “Over time, we’ve spoken with several sportsbooks. I don’t want to mention names but we’ve been in contact with several sportsbooks that have come to market and we are always considering opportunities that growth the sportsbook and our business.
“But we aren’t under pressure to do a deal,” Pazner added. “Kambi is a great partner.”
888Sport revenues climbed 11% to $37.5m in H1 2018 and the operator announced a “long-term” extension to its deal with Kambi in July last year.
Speaking to EGR following his departure last week, Itai Frieberger said he would remain on the board as an advisor to 888 for a year, and would not be going to work for another big organisation.
“This is an area [Tel Aviv] that is full of innovation and opportunities,” Frieberger said. “The world goes beyond executives and corporate structures and that’s exactly what I plan on doing.”