888 Holdings has partnered with Authentic Brands Group (ABG), the parent company of famous sports magazine Sports Illustrated, to develop online sports betting and iGaming products under the Sports Illustrated brand.
888 said it expects to kick off the partnership with the launch of a new Sports Illustrated wagering experience, branded as SI Sportsbook, in Colorado in the second half of 2021 which will be followed by other US states.
As per the deal, ABG will grant 888 an exclusive license to use Sports Illustrated branding 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 and a minority passive interest in 888, with the company adding it has also agreed to a minimum annual advertising commitment on certain ABG media assets.
“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,” Jamie Salter, Founder, Chairman and Chief Executive of ABG, said in a statement.
“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,” Itai Pazner, CEO of 888, said.