Bell Pottinger Corporate & Financial (BPC&F) was appointed to handle the IPO of 888 - one of the world's most popular online gaming companies offering casino, poker and skill games.

Challenges
PartyGaming – London’s biggest flotation for 3-4 years – and 888’s major competitor – attracted vast media coverage, much of it negative. Other challenges were:

• Confusion about the legality of online gambling in the US (from which 888 derives 56% of its revenue)
• Addressing 'soft' stories blaming gaming companies for underage gambling and gambling addiction

Whilst 888 & PartyGaming are both online gaming business their models are quite different. It was vital this difference was made clear. Problems were exacerbated when Party announced a profits warning within two months of flotation, the shares falling 50%. Journalists took great pleasure writing 'I told you so' articles about the online gaming sector and speculating whether the 888 flotation would be pulled.

Solution
The need to differentiate 888 became even more vital - BPC&F stressed these differences to a cynical audience especially that any problems PartyGaming had were company, and not industry-specific.

Result: 888's flotation was successful and the company received extensive coverage which included our key messages in respect of a diversified product base and geography. Bell Pottinger was subsequently appointed as the retained post-IPO financial PR adviser. Since then, the banning of online gaming in the US has presented a brand new challenge which BPC&F is advising on – successfully positioning 888 as one of the least exposed of the major operators to the US.


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