- Legal States
Filip Mishevski December 1, 2021 3 min read
888 Expands Its Presence as It Obtains Sports Betting License in Virginia
888 Holdings continues to expand its market presence in the US. After announcing a strategic partnership with Authentic Brands Group back in June 2021, an announcement on launching SI Sportsbook in Virginia was made as 888 received a provisional license for sports betting in the state.
SI Sportsbook Will Expand its Services in 2022
The partnership between 888 and ABG, Sports Illustrated’s owner, will result in expanding the services of SI Sportsbook into gaming and betting in 2022. So far, 888 have gained licenses in nine US states – Colorado, New Jersey, Delaware, Pennsylvania, Nevada, Indiana, Iowa, Michigan, and now, in Virginia.
SI Sportsbook will be powered by official data from all of the most popular sports leagues and will be able to provide bettors with a unique experience. To make sure that the project has maximum effectiveness and efficiency, 888 teamed up with Virtual Entertainment Partners LLC, which is a woman-owned, minority-owned (SWaM), and certified company based in Virginia. The ownership of SWaM comprises 100%, African-American females.
Thanks to this partnership, 888 will be able to move on with its mission of making significant contributions to communities in Virginia with the help of the local enterprise of VEP. In order to drive diversity to residents in the state, special attention will be paid to minority communities while enabling numerous opportunities and creating meaningful value.
The SVP, Head of US, Yaniv Sherman, shared a few thoughts on the latest developments. Sherman said that being awarded a Virginia license is a massive milestone for 888 as it enhances the company’s foothold in the online betting and gaming industry in the US. According to Sherman, the sports betting fanbase in the country is rising, which is why the company, backed by its Sports illustrated partners, will be able to provide customers with a unique betting experience.
Virginia may be new to the betting market, but as the Virginia Lottery data shows, the interest is very high. So far, approximately $1.95 billion has been wagered on sports. September resulted in $293 million being wagered, which is an increase of 61% compared to August. Moreover, the $1 billion mark was reached four months after betting was legalized, which is an astonishing milestone.
888 Is Also Closing in On The William Hill Acquisition
888 doesn’t seem to slow down even though it’s not exclusively engaged with US markets. The company is currently in the final stages of acquiring the non-US assets of William Hill, one of the world’s most popular sportsbooks. As 888 reports, it expects the deal to be finalized at the start of 2022, even though there are a few steps that still need to be completed. 888’s interest in these assets began in October 2020.