24 Jun 2008 07:00
24 June 2008
888 Holdings Public Limited Company
('888' or the 'Company')
888 signs strategic partnership with Sportech PLC
888, one of the world's most popular gaming entertainment companies, announces a strategic partnership with Sportech PLC, one of the UK's leading gaming businesses, in what represents a step-change for 888 in its B2B operations.
Under the partnership, 888 will power Sportech's legendary brand and customer base with a turnkey online gaming operation including its market-leading gaming and back-end software, customer support and payments processing services. In addition, 888 will also provide knowledge services relating to Sportech's marketing, brand and customer base, aiming to extend the reach of Sportech's business.
888 will also provide Sportech with international distribution services for the New Football Pools ("the Pools"). Leveraging Sportech's brand and the re-launch of the Pools, 888 will also actively assist in marketing Sportech's products to both 888's and Sportech's customers in the UK and worldwide, with a clear goal to achieve groundbreaking expansion.
888 believes that the combination of Sportech's status as one of the most respected brands in global pools sports betting and 888's software, operations, internet marketing and online gaming capabilities will yield significant mutual benefits. As such, 888 expects this agreement to be material in terms of its earnings in 2009 and beyond.
Gigi Levy, Chief Executive Officer of 888, commented:
"888 is an outstanding consumer brand in itself, however it is part of our strategy to be the engine behind other great brands via our strategic partnership programme and the strategic consulting skills we can offer. This phenomenal partnership represents the full evolution of our B2B offering and is a milestone agreement."
Ian Penrose, Chief Executive Officer of Sportech, commented:
"This is a strong strategic partnership for Sportech. It offers an unparalleled opportunity for all of our products to be effectively marketed online. Importantly this extends beyond the traditional online poker and casino offering and includes the Pools business which we believe will become an international online gaming brand. This fits exactly with our strategy of reinvigorating the pools business and delivering an enhanced and modern product for today's gaming customers."
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Contacts
888
Gigi Levy, Chief Executive Officer +350 49 800
Aviad Kobrine, Chief Financial Officer +350 49 800
Bell Pottinger Corporate & Financial
Nick Lambert / Andrew Benbow +44 (0) 20 7861 3232