The parent company of Sports Illustrated has formed a joint venture with the UK’s 888 Holdings to offer sports betting and iGaming products under the SI brand in the US later this year. The agreement, valued at $10 billion, could be renewed for up to 20 years.
Under the terms of the partnership, 888 will have exclusive rights to SI digital channels, its iconic magazine and any associated brands for sports betting and iGaming, with SI Sportsbook becoming the primary sports betting brand. The addition of SI significantly enhances 888’s brand position as it looks to grow its presence in the US.
“We are delighted to announce this strategic partnership, enabling us to accelerate our investment into the U.S., which represents one of the most exciting long-term growth opportunities for our company,” 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 U.S., giving us a high-volume and cost-effective customer acquisition channel, and great content to engage sports fans,” Pazner added.