888 seals exclusive Sports Illustrated sportsbook and igaming partnership
Operator inks commercial agreement with US media giant including licensing and advertising commitments
888 has agreed an exclusive content and sports betting deal with Authentic Brands Group (ABG) to develop a Sports Illustrated-branded sportsbook and igaming offering for the US market.
Talks between ABG and the London-listed operator were first reported by EGR back in April.
Under the terms of the deal, ABG has granted 888 an exclusive licence to use the Sports Illustrated brand and trademarks for online sports betting and igaming purposes.
Exclusive advertising and editorial integration rights on selected Sports Illustrated-branded digital assets are also included in the scope of the agreement.
In return, ABG will receive brand licensing and affiliate fees, as well as a minority passive interest in the 888 Holdings business, specifically relating to its US-licensed B2C activity.
In addition, 888 has agreed to a minimum annual advertising commitment on certain ABG media assets.
The brand new online SI Sportsbook will launch in Colorado during H2 2021, with other US states expected to follow.
888 CEO Itai Pazner said: “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 US, giving us a high-volume and cost-effective customer acquisition channel and great content to engage sports fans,” he added.
April 2021 Sports Illustrated Cover
Sports Illustrated had been plotting a US sports betting market entry for more than a year. The New York Post first claimed ABG was seeking out operators over a potential licensing deal as far back as August 2020.
The business, which boasts almost four million followers across Twitter and Instagram, has also explored launching an SI Bets brand. The Sports Illustrated website attracts 40 million unique hits per month, while its total subscriber base of both print and digital has surpassed the two million mark.
ABG purchased the rights to the Sports Illustrated brand from publishing firm Meredith in May 2019 for $110m, later licensing its media operations to technology and digital publishing company Maven.
Discussing the partnership, ABG founder and chairman Jamie Salter talked up the potential for the Sports Illustrated business in the lucrative sports betting and igaming market across the US.
“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 while broadening the reach of the brand,” Salter explained.
“888 is one of the leaders in online betting and gaming globally and has outstanding technology, products and marketing capabilities.
“We are excited to partner with them to offer an innovative product experience for sports fans,” Salter added.
(Photo by Jeffery A. Salter/Sports Illustrated via Getty Images)