Sports Illustrated To Launch 2021 US Sportsbook
Legendary magazine publisher Sports Illustrated has announced that it will be entering the fast-growing US sports betting market. Working alongside operator 888 Holdings, the two are aiming to create a world-class online sportsbook unlike any other currently in the market.
In a statement published on its website, the publisher confirmed that the sportsbook will be launching in Colorado later this year. After Colorado, other states will also follow suite. However, the publisher has not yet suggested or confirmed which states will follow.
Smart Move For 888 Holdings
888 Holdings also released a statement on their website, confirming the deal. In the statement, the firm said that forming a partnership with the publisher was a strategic move that is set to aid the company in creating a platform for further growth throughout the United States. Under the terms of the agreement between 888 and Authentic Brands Group (ABG), Sports Illustrated’s parent company, ABG will grant 888 with an exclusive license for the use of the brand and trademarks.
The rumours of this partnership first started circulating in April of this year. However, ABG had started making its desire to enter the market known last year already. In August, the New York Post reported that the company was in talks with multiple gambling companies about potential licensing deals.
Itai Pazner, the CEO of 888, said that his company is excited about the potential that this new project has. He added that both parties are looking forward to being able to provide fans with a first-class betting and gaming experience.
While 888 Holdings is expanding within the United States, it also has its sights set on opportunities throughout Europe. Mr Pazner confirmed that 888 has a great deal of interest in the non-US assets of William Hill. Since Pazner’s statement, Caesars Entertainment has completed its takeover of William Hill and has also confirmed that it tends to sell off the rest of its international assets.
Plenty Awaits Sports Illustrated Followers
The Sports Illustrated brand has also announced that it will start providing coverage of the sports betting space, which will include a gambling-themed edition of its magazine. Its digital platform will include betting information regarding data, tools, insight and stories
Jamie Salter, the founder and chairman of ABG, expressed his excitement over the upcoming launch. He said that the brand is thrilled to be able to enter into the online sports betting and iGaming space, especially with 888, which has outstanding marketing capabilities, technology and products.