888 Boosts B2B Bingo Activity

15 December 2008

888 Holdings gave its bingo activities a boost on Monday when the operator announced a bolstering of its business-to-business activity by signing agreements to launch three new bingo networks for third-party companies.

Set to launch in the first quarter of 2009, two of the sites will have a United Kingdom focus, while the other will target Spain. Currently, 888 runs seven bingo networks: Foxy Bingo, Mirror Bingo, Cashcade Network, Think Bingo, Think Bingo Cosy, Bingo Scotland and Wink Bingo.

“These agreements and new initiatives represent acceleration in 888's bingo activity," said Gigi Levy, chief executive of 888, in a prepared statement. “They are set to make a significant addition to our bingo business not only in revenues but also in geographic presence.”

Ivor Jones, an analyst with Evolution Securities, noted that Monday's I-gaming deals for both 888 and CryptoLogic Ltd. showed the fragmented nature of the market for the supply of online gaming software.

“Not only are there competent new entrants (or newly aggressive players) like 888, (Bwin Interactive Entertainment A.G.) and Party(Gaming), but the choice for owners of brands and Internet traffic is no longer binary between one casino supplier and another,” Mr. Jones wrote. “Owners can now pick and mix content from multiple suppliers. Good for owners of content (Crypto games, 888, Playtech's poker), bad for suppliers of turnkey casino software (Playtech casino, Crypto casino).”