Online betting and gaming operator 888 has launched of a new sportsbook in the state of Colorado via its partnership with sports magazine Sports Illustrated.
SI Sportsbook allows players in Colorado to place pre-event and in-play wagers on a wide range of major sports events including the National Football League, National Basketball Association, Major League Baseball and National Hockey League.
The new sportsbook also features a multi-sport ‘pick ‘em’ game, betting widgets, wagering education tools and intelligent hyperlinking.
The launch was made possible through an agreement between 888 and Authentic Brands Group (ABG), the brand development, marketing and entertainment company that acquired the Sports Illustrated brand for $110m in 2019.
This deal will see ABG grant 888 an exclusive license for the use of the Sports Illustrated brand and trademarks for online sports betting and gambling, as well as certain exclusive advertising and editorial integration rights on select Sports Illustrated branded digital assets.
ABG will receive brand license and affiliate fees, and a minority passive interest in the 888 group company holding certain of its US licensed B2C activity. In addition, 888 agreed to a minimum annual advertising commitment on some ABG media assets.
The deal will also allow 888 and Sports Illustrated to launch the sportsbook in other states across the US, subject to regulatory approval in each market.
“We strongly believe we have developed a unique and differentiated sports wagering experience that combines the power of our proprietary technology platform with one of the most impactful sports media brands for nearly 70 years,” 888’s senior vice-president and head of its operations in the US, Yaniv Sherman, said.
“By partnering with Sports Illustrated, we have created a strong platform that enables us to build our US position through Sports Illustrated’s extensive brand footprint. This provides an opportunity to cost-effectively acquire customers and build a profitable business over time.”