The Virginia Lottery has awarded a sports betting licence to the online betting and gaming company 888 to allow the firm to operate in the state of Virginia.
888 will launch its sportsbook in Virginia next year after gaining market access through a partnership with Authentic Brands Group.
Additionally, 888 has partnered with Virtual Entertainment Partners LLC, an independent, woman-owned and minority-owned company with 100% African-American female ownership based in Virginia.
Leveraging VEP’s local knowledge, the online betting firm has committed significant funds to communities across Virginia, to improve the diversity and inclusion of minorities across the state.
Yaniv Sherman, SVP Head of US at 888, commented: “We are delighted to have been awarded our licence 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 licences 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, informing investors and stakeholders that it maintains strong trading momentum against tough period comparatives.
Total group revenues hit $230m for the period ending September 30m, an increase of 7% compared to 2020’s result of $216m.