888 has decided to end its relationship with Authentic Brands and the Sports Illustrated name used in connection with its sports betting app and online casinos, according to a press release from the company.
Furthermore, 888 has decided to enter a “strategic review” of its American operations, which include New Jersey.
“The strategic review of our US B2C operations will continue at pace, and I look forward to updating shareholders on our plans for the wider Group in late March,” 888 CEO Per Widerström said in the release.
Per the release, 888 – which owns and operates the William Hill brand in Europe – will be looking at every possibility, including the sale of its U.S. business or a controlled exit from the marketplace.
“There can be no assurance regarding the results or outcome of the review,” the release goes on to say, clearly a nod to the potential 888 decides – much like FOX Bet, Fubu, MaximBet before them – to exit the U.S. market.
SI no more 4s4811
As far as 888’s now-defunct exclusive deal with Authentic Brands to use the Sports Illustrated name, 888 will pay Authentic Brands $25 million now to exit the partnership, and an additional $25 million between 2027 and 2029.
“Our partnership with Authentic has consistently driven strong demand for the SI brand across both consumer experiences and product offerings,” Widerström said. “A series of record-breaking months for SI Casino has underscored the strength of the SI brand. However, despite these successes, we have concluded that achieving sufficient scale in the U.S. market to generate positive returns within an accelerated timeframe is unlikely.”
The company said its B2B U.S. division – which consists of handling the backend of Caesars’ WSOP poker brand, per Earnings + More – will not be affected.
