888 Holdings plc U.S. partnership with Sports Illustrated (9697C)

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                                     [phone] 
 Itai Pazner, Chief Executive Officer 
  Yariv Dafna, Chief Financial Officer 
  Vaughan Lewis, Chief Strategy Officer 
 
   Investor Relations                                   [e-mail] 
 
   Media - 888                                          [e-mail] 
 Hudson Sandler 
  Alex Brennan 
  Bertie Berger 
  Andy Richards 
 
  Media - ABG and Sports Illustrated 
  Haley Steinberg - VP, PR & Communications 
  [e-mail] 
 
  Michelle Ciciyasvili - Public Relations Director 
  [e-mail]                    [phone] 
 

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 .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCGUGDLRBDDGBS

(END) Dow Jones Newswires

June 24, 2021 02:00 ET (06:00 GMT)