Gaming corporation 888 has initiated a strategic review of its B2C (business-to-customer) operations in the United States, leading to considerations of a complete exit from the market. The company has terminated its contract with Sports Illustrated, signaling a comprehensive evaluation of its US-based projects. The review will explore various alternatives aimed at enhancing business prospects, including the potential sale of its B2C assets in the United States.
The strategic review does not impact 888's existing B2B (business-to-business) brands operating in the United States. Currently, the corporation is active in four states, running SI Sportsbook and SI Casino in Michigan, SI Sportsbook in Colorado and Virginia, and 888casino in New Jersey. The lower net profit from these brands is attributed to high operating costs, including taxes, fees, and licensing expenses.
As part of its strategic overhaul, 888 has terminated its contract with Authentic Brands, which granted exclusive rights to use the Sports Illustrated brand for online betting and gaming. The corporation is set to pay $25 million upfront in cash, with an additional $25 million distributed between 2027 and 2029.
