Michigan Loses SI Casino And Sportsbook with the 888 US Departure
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Significant international news broke early on the morning of March 6, affecting Michigan’s online gaming market. As part of its intention to withdraw from the US markets completely, British company 888 Holdings said that it had ended its agreement with Sports Illustrated.
Locally, where Sports Illustrated Casino Michigan and Sports Illustrated Sportsbook Michigan are located, that choice will have a significant effect.
SI’s only online casino offering was located in Michigan. It replaced TwinSpires and made its debut in February 2023.
888 is Cutting Ties with Authentic, SI
888 has severed its ties with Authentic Brands Group as part of its attempts to exit the US market.
Because of this collaboration, Sports Illustrated’s name could only be used for online gambling and betting. The first deal was made in 2021 and was supposed to last for 20 years. 888 will make two separate $25 million payments to Authentic as part of terminating the arrangement. One between 2027 and 2029, and one right now.
According to a press statement from 888 CEO Per Widerstrom, the company’s relationship with Authentic has continuously increased demand for the SI brand in terms of both customer experiences and product offers. The power of the SI brand has been shown by a string of record-breaking months for SI Casino. Nevertheless, the business has determined that it is unlikely to get enough traction in the US market to provide profitable returns in a shorter period of time.
In Virginia, Michigan, and Colorado, SI Sportsbook is operational. The only state having a SI online casino is Michigan.
888 did not provide a specific date on when SI would stop doing business in Michigan.
