888 Holdings PLC (LSE:888) announced it formed a joint venture with five 'industry veterans' to roll-out online betting and gaming across selected regulated markets in Africa.
Under the deal, 888AFRICA will pay a brand licence fee to use and operate 888's online betting and gaming brands.
The brands will operate via a third-party technology platform, with products and content designed for the local preferences of the African market.
Initially, 888AFRICA expects to launch in four markets on the continent during 2022.
888 Holdings also has the option to own up to 100% of the venture in the future.
Shares in 888 were up 0.3% at 189.80p in late morning in London.