TIDM888
RNS Number : 9697C
888 Holdings plc
24 June 2021
24 June 2021
888 Holdings Plc ("888" or "the Group") and Authentic Brands
Group ("ABG") Announce an Exclusive U.S. Online Sports Betting and
iGaming Partnership for Sports Illustrated
The Strategic Partnership with Sports Illustrated Provides 888
with a Platform for Strong U.S. Growth
888 (LSE: 888), one of the world's leading online betting and
gaming companies, and Authentic Brands Group (ABG), a brand
development, marketing and entertainment company and owner of the
Sports Illustrated brand, today announced an exclusive partnership
to develop Sports Illustrated online sports betting and iGaming
products in the United States. Leveraging 888's world-class
proprietary and scalable technology, 888 expects to kick off the
partnership with the launch of an all-new Sports Illustrated
wagering experience later this year branded SI Sportsbook, which is
expected to launch in Colorado in the second half of 2021, with
other states to follow.
Itai Pazner, CEO, 888 said: "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. 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. We are excited about the potential to deliver
our cutting-edge, proprietary sportsbook platform into the market,
providing Sports Illustrated fans with a first-class betting and
gaming experience."
Jamie Salter, Founder, Chairman and CEO, ABG added: "We are
thrilled to announce that Sports Illustrated is entering the online
sports betting and iGaming space. 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,
broadening the reach of the brand. 888 is one of the leaders in
online betting and gaming globally and has outstanding technology,
products and marketing capabilities, and we are excited to partner
with them to offer an innovative product experience for sports
fans."
Under the commercial agreement, ABG will grant to 888 an
exclusive license for the use of the Sports Illustrated brand and
trademarks for online sports betting and iGaming, and certain
exclusive advertising and editorial integration rights on select
Sports Illustrated branded digital assets. As part of the
transaction, ABG will receive certain brand license and affiliate
fees, and a minority passive interest in the 888 group company
("the company") holding certain of its U.S. licensed B2C activity.
In addition, during the term of the commercial agreement, 888 has
agreed to a minimum annual advertising commitment on certain ABG
media assets.
Stifel acted as financial advisor and Herzog, Fox & Neeman
and Latham & Watkins LLP acted as legal advisors to 888. Moelis
& Company LLC acted as exclusive financial advisor and Fox
Rothschild LLP acted as legal advisor to ABG.
888 will host an analyst and investor call today, Thursday 24
June 2021, at 16:45pm (BST) / 11:45am (ET). Participants may join
via audio webcast: https://brrmedia.news/x5v6qm
A replay will be available on 888's website shortly after:
https://corporate.888.com/investor-centre
- Ends -
Enquiries and further information:
888 Holdings Plc +350 200 49 800
Itai Pazner, Chief Executive Officer
Yariv Dafna, Chief Financial Officer
Vaughan Lewis, Chief Strategy Officer
Investor Relations ir@888holdings.com
Media - 888 888@hudsonsandler.com
Hudson Sandler
Alex Brennan
Bertie Berger
Andy Richards
Media - ABG and Sports Illustrated
Haley Steinberg - VP, PR & Communications
hsteinberg@authenticbrands.com
Michelle Ciciyasvili - Public Relations Director
mciciyasvili@authenticbrands.com +44(0) 207 796 4133
About 888 Holdings Plc:
888 Holdings plc (and together with its subsidiaries, "888" or
the "Group") is one of the world's leading online betting and
gaming companies. 888's mission is to develop state-of-the-art
technology and products that provide fun, fair and safe digital
gambling products to players globally. Safer gambling is a core
focus for the Group and, a t the beginning of 2020, 888 launched
its 'Safer. Better. Together' safer gambling strategy and
commitments.
888 has been at the forefront of the online gaming industry
since its foundation in 1997, leveraging its proprietary technology
to provide players and B2B partners an innovative and world-class
online gaming experience.
In 2020, the company was proud to be recognised at the 2020
Gaming Intelligence awards as the winner in the Casino Operator of
the Year category. In 2020, 888 also won two prestigious awards for
its poker platform at the 2020 Poker Listings Operator Awards in
the Most Improved Software and Best Beginner Software
categories.
The Group is structured into two lines of business: B2C, under
the 888 brands, and B2B, conducted through Dragonfish, which
provides partners a leading platform through which to establish an
online gaming presence and monetise their own brands in a safe and
responsible manner.
888's consumer facing websites offer more than just online
betting and gaming. They are entertainment destinations: places
where people can enjoy a truly interactive experience and be part
of an online community that shares common interests. 888's strong
and trusted brands are all accessible through www.888.com .
Find out more about 888 at http://corporate.888.com/ .
About Authentic Brands Group
Authentic Brands Group (ABG) is a brand development, marketing
and entertainment company, which owns a portfolio of global media,
entertainment and lifestyle brands. Headquartered in New York City,
ABG elevates and builds the long-term value of more than 30
consumer brands and properties by partnering with best-in-class
manufacturers, wholesalers and retailers. Its brands have a global
retail footprint across the luxury, specialty, department store,
mid-tier, mass and e-commerce channels and in more than 6,000
freestanding stores and shop-in-shops around the world.
ABG is committed to transforming brands by delivering compelling
product, content, business and immersive experiences. It creates
and activates original marketing strategies to drive the success of
its brands across all consumer touchpoints, platforms and emerging
media. ABG's portfolio of iconic and world-renowned brands includes
Marilyn Monroe(R), Elvis Presley(R), Muhammad Ali(R), Shaquille
O'Neal(R), Dr. J(R), Greg Norman(R), Neil Lane(R), Thalia(R),
Sports Illustrated(R), Eddie Bauer(R), Spyder(R), Volcom(R),
Airwalk(R), Nautica(R), Izod(R)*, Forever 21(R), Aéropostale(R),
Juicy Couture(R), Vince Camuto(R), Lucky Brand(R), Nine West(R),
Jones New York(R), Frederick's of Hollywood(R), Adrienne
Vittadini(R), Van Heusen(R)*, Arrow(R)*, Tretorn(R), Tapout(R),
Prince(R), Vision Street Wear(R), Brooks Brothers(R), Barneys New
York(R), Judith Leiber(R), Herve Leger(R), Frye(R), Hickey
Freeman(R), Hart Schaffner Marx(R), Thomasville(R), Drexel(R) and
Henredon(R). Pending acquisition in Q3 2021*.
For more information, visit authenticbrands.com .
Follow ABG on Twitter , LinkedIn , and Instagram .
About Sports Illustrated
Sports Illustrated is an unparalleled and influential leader
recognized for its role in shaping modern culture and uniting
athletes, teams, and fans from all over the world. Powerful
storytelling is brought to life through world-class live and
virtual events, immersive experiences, and lifestyle products.
Its award-winning media enterprise captures moments and turns
them into history through rich and thoughtful journalism, iconic
and beloved photography, and across digital platforms ranging from
Emmy-winning video to an ever-expanding social community. The
Sports Illustrated cover is the most coveted real estate in sports
media and one of the most recognizable honors in American culture.
Brand extensions include the Sports Illustrated Swimsuit and Sports
Illustrated Kids franchises. Sports Illustrated shares its unique
and authentic perspective year-round, through marquee events,
activations, partnerships, star-studded celebrations, and
VIP-access to athletes and A-list celebrities. Tentpoles include
the annual Super Bowl celebration: "The Party," Fashionable Fifty,
and the Sports Illustrated Awards .
For more information, visit SI.com .
Follow Sports Illustrated on Twitter , Instagram , and Facebook
.
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