888 Holdings secures gambling licensing deal with Sports Illustrated
888 Holdings has today announced an agreement to develop US media firm Sports Illustrated (SI) into betting and casino games in the US.
The deal is the latest branding tie-up between an established betting company and a sports media brand, a model used in partnerships between Stars Group and Fox Bet.
888 plans to launch SI Sportsbook, as the product will be called, by the start of the 2021 NFL season.
“We are delighted to announce this strategic partnership, enabling us to accelerate our investment into the US, which represents one of the most exciting long-term growth opportunities for our company,” said Itai Pazner, CEO of 888.
“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.”
Following the announcement, shares in 888 Holdings shot up 1.5 per cent as markets opened.
Sports Illustrated’s parent company, Authentic Brands, is a brand development, marketing and entertainment firm based in New York.
Under the agreement, Authentic Brands will grant 888 to an exclusive license for the Sports Illustrated trademarks.
“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,” said Jamie Salter, CEO of Authentic Brands.
“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.”
888’s revenue soared by more than half to a record $850m last year, with around 12 per cent of its sales coming from the US.