Gibraltar based sportsbook operator and London traded, 888Sports (LSE: 888) took another step forward in their quest to compete in the growing United States sports betting marketplace.
Now having secured sports betting, poker, and casino licenses, the brand has announced plans to launch the 888Sport brand in three new states next year.
- 888Sports enters the Colorado market via a license with Cripple Creek’s Colorado Grande Casino.
- Iowa’s Catfish Bend Casinos II LLC. has partnered with 888Sports to help establish the brand in the Hawkeye State.
- Indiana also welcomes 888Sports, via a partnership with Harrah’s Hoosier Park. Interestingly enough, this casino property is owned by the Caesars Entertainment group, which also competes in the sports betting realm.
Currently active in Delaware, Nevada and New Jersey, 888Sports will soon be available to customers in six American states by the end of 2021.
888S Holdings’ Senior Vice-President Yaniv Sherman and head of commercial development stated: “Expanding 888sport.com into these three states represents another major milestone in our ongoing growth across the regulated US online gaming market. We have deployed our proprietary sports, casino, and poker technology in the US, and our exciting pipeline of new products will deliver industry-leading propositions to our customer.”
“This positions us to deliver strong growth with our 888 brand, and as a B2B partner of choice.”
888Sports Expands Into Strong US Betting Markets
The partnerships position 888Sports with three states all experiencing a sudden boom in online betting popularity.
Colorado launched sports betting May 1st, and October saw the state post its largest handle to date, totaling $210 million compared to the $207 million recorded in September.
Indiana also reported record numbers in October, with the month’s $230.9 million handle showing a 11.3% increase from the previous record of $207.45 million posted in September.
Iowa saw a 13.1% increase over the same timeframe, with a record $81.9 million handle brought in October.
“Expanding 888sport.com into these three states represents another major milestone in our ongoing growth across the regulated U.S. online gaming market,” added Sherman.
Theser multi-year agreements will like come into effect in 2021 as their retail partners fully reopen. While the 888Sports footprint in the United States remains smaller than that of industry giants like DraftKings, FanDuel and Penn National, this move signals that they are taking the region serriously and will look to secure a share of the market.