Sports Illustrated partners 888 for sports betting and iGaming24th June 2021 9:58 am GMT
Sports Illustrated is getting into the online gaming and betting market in the United States through a partnership with 888.
Sports Illustrated parent Authentic Brands Group (ABG) has agreed a licensing deal with 888 which allows the online gaming operator to launch online gaming and betting sites in the United States under the Sports Illustrated brand, beginning with the SI Sportsbook in Colorado.
“We are delighted to announce this strategic partnership, enabling us to accelerate our investment into the U.S., which represents one of the most exciting long-term growth opportunities for our company,” said Itai Pazner, chief executive of 888.
“Sports Illustrated is an iconic sports media brand, with high awareness and consumer loyalty. This agreement provides us access to millions of engaged sports fans across the U.S., giving us a high-volume and cost-effective customer acquisition channel, and great content to engage sports fans. We are excited about the potential to deliver our cutting-edge, proprietary sportsbook platform into the market, providing Sports Illustrated fans with a first-class betting and gaming experience.”
Under the terms of the partnership, ABG will grant 888 an exclusive license for the use of the Sports Illustrated brand and trademarks for online sports betting and iGaming, as well as certain exclusive advertising and editorial integration rights on select Sports Illustrated branded digital assets.
In return, ABG will receive brand license and affiliate fees alongside a minimum annual advertising commitment from 888, as well as a minority passive interest in the 888 group company holding some of its US licensed B2C operations.
“We are thrilled to announce that Sports Illustrated is entering the online sports betting and iGaming space,” said ABG founder and chief executive Jamie Salter. “Sports wagering represents a large and high-growth market, allowing us to diversify the brand's revenue streams and engage directly with our sports consumers, broadening the reach of the brand. 888 is one of the leaders in online betting and gaming globally and has outstanding technology, products and marketing capabilities, and we are excited to partner with them to offer an innovative product experience for sports fans.”
Shares in 888 Holdings plc. (LSE:888) were trading at 398.00 pence per share in London early Thursday morning.