As 888 Holdings embarks on a strategic reset, Canada emerges as a focal point for the company’s expansion plans. The operator previously noted it would be assessing options to exit or sell its direct-to-consumer operations based in the US, as its current structure could not optimize returns. However, Canada represents an exciting opportunity as 888 can leverage its presence there.
The Operator Has a Stable Foothold in Canada
Roi Nadler, head of Canada at 888, shared insights into the company’s long-term strategy during an interview with media outlet CDC Gaming Reports, commenting on 888’s commitment to the Canadian online gaming market. Nadler emphasized the operator’s vision for Canada, viewing it as a market ripe for future value creation.
The British sportsbook and gaming company aims to enhance its core capabilities, focusing on customer experience and product delivery, to capitalize on the opportunities in the Canadian market in the coming years. Having secured an Ontario iGaming license in March 2022, 888 has perfectly positioned itself to establish a strong presence in Canada.
A key part of the strategy is building out significantly improved core capabilities… and we see Canada as one of the markets that stand to benefit from this.
Roi Nadler, 888 head of Canada
Nadler highlighted the success of 888Casino.CA since its launch, citing the robust adoption of online casino, poker, and sports betting products among Ontarian consumers. He attributed this success to the company’s diverse game catalog, including live dealer games and proprietary slots from its in-house games studio, which bolstered customer engagement and retention.
888 Plans to Capitalize on Expansion Opportunities
Amidst financial challenges, including disappointing results for the 2023 fiscal year, 888 remains steadfast in its commitment to long-term success. The company’s strategic reset, under the leadership of CEO Per Widerström, aims to deliver sustainable growth and enhance shareholder value. With a focus on leading positions in growing markets and proprietary technology, 888 hopes for success in its Canadian expansion.
Ontario’s regulated market, which celebrated its second anniversary recently, marks just the beginning of 888’s Canadian journey. Discussions of potential expansion into other provinces have seen Alberta emerge as another promising market. Dale Nally, Minister of Service Alberta and Red Tape Reduction, has been tasked with developing the province’s online gaming strategy, indicating a clear intent to open up the market.
We are proponents of good regulation that benefits consumers and operators, and we look forward to Canada’s other provinces and territories potentially following Ontario’s lead.
Roi Nadler, 888 head of Canada
While 888’s ongoing strategic shift will pose short-term challenges, the company hopes its focus shift away from the USA will pay out. With a clear vision and a commitment to excellence, 888 is well-positioned to capitalize on the opportunities in the Canadian online gaming market, leveraging its existing presence in the region to minimize costs and maximize profits.