UK’s online gaming company 888 Holdings, owner of several notable gambling brands including 888sport and 888poker, and Authentic Brands Group, the parent company of Sports Illustrated, will team up in order to develop online sports betting and online gambling platforms for the US market.
The expected launch of the new sportsbook site expected by the end of 2021, first hitting the Colorado sports betting market. The plan is to extend to ten other markets by 2022-2023, and also to increase betting information, data, tools, stories and insights on the Sports Illustrated website, SI.com.
ABG will grant 888 Holdings an exclusive license for the use of the Sports Illustrated branding and trademarks for the purpose of online betting and iGaming, while ABG receives a certain brand license and affiliate fees, with a minority passive interest in 888.
According to 888’s internal research, millions of Sports Illustrated fans potentially have a “high affinity” for sports wagering, which is what the UK company is hoping to entice. This access to a huge and established audience is the missing puzzle piece needed for the British giant to enter the American market.
The recent market changes caused by the novel Coronavirus pandemic has made the world of online gambling more profitable than ever. With a large move such as this, the growth of online gambling platform is nowhere near its full potential.
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