Specialist
Executive at an online gambling company
Agenda
- 888 Holdings (LON: 888) strategic outlook after a turbulent year, key risks and opportunities
- Regulatory frameworks and growth outlook across core markets, including the UK, Netherlands and Germany
- Gross gaming revenue growth outlook and market share potential in growth markets, highlighting the US and Africa
- Consolidation outlook, analysing portfolio opportunities across 888’s products
Questions
1.
What are the key impact areas by the UK Gambling Act Review White Paper released in Q2 2023, considering the UK is among 888 Holdings’ core markets?
2.
If a single customer view is implemented despite the technology barrier, how should we think about potential definitions of affordability plus a single customer view? How could this impact channelisation and how much of the player base could leave the regulated market?
3.
Could we see consumers moving away from online and into retail in the coming years, in response to the white paper?
4.
How have 888’s affordability and player protection measures historically compared to those of other tier 1 operators in the industry, or specifically in the UK market?
5.
How should we think about fines in the post-white paper environment, considering we’ve seen pretty hefty fines historically? Do you expect them to ramp up or quiet down?
6.
Could you assess 888’s position vs other tier 1 and tier 2 operators in the post-white paper environment in the UK? Is there anything we should watch out for?
7.
Is there an industrywide threshold to which companies can cut back on marketing before it starts hitting top line?
8.
Could you highlight 888’s licensing and market entry dynamics in the Netherlands and continental Europe?
9.
I know that 888 decided not to re-enter the Netherlands, but are there any live brands or companies in the market that could make sense for the company to acquire?
10.
How does 888’s portfolio compare in southern Europe, particularly in Italy and Spain? Can the company effectively compete against giants such as Lottomatica or Cirsa? I know it has William Hill there and strong brands in western and northern Europe as well.
11.
The regulatory landscape in Italy and Spain is quite regionally fragmented in my understanding. Do you think that 888 is well-equipped to deal with more complex regulatory markets, especially in contrast to a more homogenised market like the UK?
12.
You mentioned that operators seem to have forgotten about Germany’s market. What do you feel is 888’s market share potential given that other operators might be focused elsewhere? Does this give the company a stronger foothold in the market? How should we assess Germany as a whole?
13.
How would you assess 888’s emerging market strategy? We’ve seen moves from peers into eastern Europe. Is this something you’d expect the company to pursue? Outside Europe also, it has the JV in Africa.
14.
You mentioned the impact and immediate hit of the Middle East to 888. How long could it take to regain the Middle Eastern customer or rebuild trust in the region? Could you outline any historical events or comparisons?
15.
Looking at North America, how do you view 888’s positioning and revenue potential in Ontario? What are your thoughts on the increased competition in North America from Flutter, Entain and big American companies?
16.
You mentioned that Ontario’s market is somewhat of an exception in North America. What do you think is the opportunity for 888 in Canada? Is there a likelihood of other provinces coming online, regulating and would 888 stand a better chance in Canada?
17.
What trends are you seeing in the industry around customer acquisition, retention and player behaviour, especially in the macroeconomic environment, shrinking disposable income and potential softness?
18.
You highlighted the trend around gamification and the increase of the gaming category. How much upside does 888 have from this trend, given its portfolio? How quickly can the company adapt and expand into more game-led?
19.
Does any tier 1 operator develop its own content that we can look at as being best-in-class, or does every operator rely on third-party content production?
20.
What do you expect in terms of industry-wide consolidation in the coming years? What role might 888 play in this?
Gain access to Premium Content
Submit your details to access up to 5 Forum Transcripts or to request a complimentary 48 hour week trial
The information, material and content contained in this transcript (“Content”) is for information purposes only and does not constitute advice of any type or a trade recommendation and should not form the basis of any investment decision.This transcript has been edited by Third Bridge for ease of reading. Third Bridge Group Limited and its affiliates (together “Third Bridge”) make no representation and accept no liability for the Contentor for any errors, omissions or inaccuracies in respect of it. The views of the specialist expressed in the Content are those of the specialist and they are not endorsed by, nor do they represent the opinion of, Third Bridge. Third Bridge reserves all copyright, intellectual and other property rights in the Content. Any modification, reformatting, copying, displaying, distributing, transmitting, publishing, licensing, creating derivative works from, transferring or selling any Content is strictly prohibited
