The Racing Post, Britain's largest racing newspaper is about to enter the online casino and poker sector of the industry with an offering developed in collaboration with 888.com. The horse racing newspaper will use its own brand to offer casino and poker deals to its massive readership, with 888 providing the software and customer support.
The agreement marks another success in 888.com's B2B strategy, which has seen the Gibraltar-based company sign up 14 new B2B customers during 2008 alone. The Racing Post agreement brings to four the number of B2B partnerships achieved by 888 thus far in 2009.
Gigi Levy, 888’s CEO, said: “Our latest deal with the Racing Post announced today, demonstrates that we enter 2009 with an innovative, fast-growing B2B operation which is now already one of the leading providers in the sector.”
Mark Renshaw, head of commercial online at the Racing Post, said: “This partnership is a crucial part of our overall online strategy, giving customers the best content available while growing revenue.”
The Racing Post Internet gambling offering should be launched in the next few months.
888.com had more good news for investors this week, reporting that its 2008 net profit rose 8.6 percent to $37.2 million, or 10.7 cents a share, from $34.2 million, or 9.9 cents a share, a year earlier.
Revenue for the year rose 20 percent to $256.9 million, with online casino business revenues up 14 percent to GBP135 million, while poker revenue grew more modestly by 4 percent to GBP77 million.