One of the world’s leading online casinos 888 Holdings, has revealed that the company has acquired the giant brand from the US, Sports Illustrated. This venture will see 888 Holdings and Authentic Brand Group in joint cooperation, signing a 20-year contract. This cooperation will see 888 Casino operating its own betting provider, the SI Sportsbook.
Moreover, 888 will pay for all license fees, in addition to paying for all potential payments of the new product. The amount of the additional payments/fees will depend on the number of customers/players that the sportsbook generates.
The new Sports Illustrated Sportsbook will launch as soon as the 2021 NFL season starts. More specifically, the SI Sportsbook will have its first official opening in Colorado, in the second part of the year. For that matter, the new brand will offer its services with both online and land-based providers.
Consequently, we can expect this sportsbook to appear in several other countries. More specifically New Jersey, Indiana and Iowa already waiting for approval. Furthermore, the SI Sportsbook will also provide the World Series of Poker with unique wagering technology.
The CEO of 888, Itai Pazner hopes that the company will manage to get 5% of the market share in the US. Additionally, Mr. Pazner also states that the new SI sportsbook has the support of the locals. Specifically, he salutes the willingness of local US providers to gravitate towards brands that are already proven. For that matter, Authentic will operate a 4.9% stake in the new SI Sportsbook. However, there is an option in the contract which can potentially increase this percentage up to 19.9%.
This latest merger and acquisition of the SI Sportsbook only shows the magnitude and position of 888 Casino in the world of online gaming. Moreover, it also reminds us that the US market is definitely one of those that are experiencing quite the ‘boom’ in recent times.
Especially with similar recent ventures such as William Hill & CBS Sports, Fox Corporation & The Stars Group and so on. As a result, many gambling experts and providers expect the US gambling scene to practically lead the whole industry in the upcoming years.
