888 Holdings and the owner of the Sports Illustrated brand, Authentic Brands Group (ABG) recently announced a new partnership that will see the development of Sports Illustrated online sports betting and iGaming products for the US market.
888’s proprietary and accessible technology offers the perfect opportunity to launch the partnership with the release of a new Sports Illustrated wagering experience later in 2021, named SI Sportsbook. The launch of this new product is planned to take place in Colorado in the second half of 2021, with other states following suit soon after.
Itai Pazner, the CEO, at 888 said,
“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. 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.”
Jamie Salter, the founder, Chairman and CEO of ABG added,
“We are thrilled to announce that Sports Illustrated is entering the online sports betting and iGaming space. 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.”
The commercial agreement enables ABG to provide 888 with an exclusive license for the use of the Sports Illustrated brand and trademarks for online sports betting and iGaming products. The deal also includes some exclusive advertising and editorial integration rights on certain Sports Illustrated branded digital assets.
Additionally, ABG will gain specific brand license and affiliate fees, as well as a minority passive interest in the 888 group company, which will give it a stake in its U.S. licensed B2C activity. Another important term of the agreement is that 888 has agreed to a minimum annual advertising commitment on specific ABG media assets.