Online betting and gaming company 888 has been awarded a provisional sports betting license from the Virginia Lottery to operate in the state of Virginia.
Through its strategic partnership with Authentic Brands Group (ABG), a brand development, marketing, and entertainment company and owner of the Sports Illustrated brand, 888 will launch the SI Sportsbook in the Old Dominion state in 2022.
The online betting firm has also partnered with Virtual Entertainment Partners LLC (VEP), a Virginia-based Small, Woman-owned, and Minority-owned (SWaM) certified company with 100% African American female ownership.
With VEP’s local expertise, 888 will commit significant contributions to communities across Virginia, specifically minority communities, to drive meaningful value, opportunity, and diversity for Virginians.
Yaniv Sherman, SVP Head of US at 888, commented: “We are delighted to have been awarded our license by the Virginia Lottery. This is an important milestone for 888 which enhances our foothold in the US online sports betting and igaming market.
“There is a growing sports betting fanbase in the state and I firmly believe that SI Sportsbook, supported by our partners at Sports Illustrated, will offer a unique and differentiated experience to our customers which will be well-received.”
888 now holds local licenses or market access agreements in nine US states: Colorado, Delaware, Indiana, Iowa, Michigan, Nevada, New Jersey, Pennsylvania, and Virginia.
In October, 888 posted its Q3 trading update, telling its investors that it maintains strong trading momentum against tough period comparatives, with group revenues hitting $230m, ahead by 7% on 2020 corresponding results of $216m.