{"id":163897,"date":"2024-03-13T10:15:00","date_gmt":"2024-03-13T10:15:00","guid":{"rendered":"https:\/\/esportsinsider.com\/?p=163897"},"modified":"2024-03-13T11:13:00","modified_gmt":"2024-03-13T11:13:00","slug":"888-could-eye-brazils-projected-3-billion-boom-after-us-fold","status":"publish","type":"post","link":"https:\/\/esportsinsider.com\/2024\/03\/888-could-eye-brazils-projected-3-billion-boom-after-us-fold","title":{"rendered":"888 Could Eye Brazil\u2019s Projected $3 Billion Boom After US Fold"},"content":{"rendered":"\n
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Less than six years after launching into the US gaming market, gambling giant 888, parent company of William Hill, announced it would be making a strategic exit from the competitive US gaming industry last week.<\/p>\n\n <\/div>\n\n\n

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The move comes amid its shrinking market presence despite the phenomenal boom in US sports-betting revenues, which generated over $66 billion in revenue in 2023.<\/p>\n\n <\/div>\n\n\n

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As a result, the company also announced that it would have to pay $50 million to Authentic Brands Group (ABG) to terminate its existing partnership, which had allowed 888 to operate the SI Sportsbook and Casino in multiple states.<\/p>\n\n <\/div>\n\n\n

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Ever since it launched in New Jersey in September 2018<\/a>, 888 has struggled to gain traction in the US, where it had hoped to capitalize on the exponential growth of sports betting and online casinos.<\/p>\n\n <\/div>\n\n\n

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After securing what amounted to just 0.2% of the market share in 2022, generating a meager $24.7 million in revenue, 888 declared a sizable $14.8 million loss that not only dashed any hopes of a resurgence but added yet another nail into the coffin.<\/p>\n\n <\/div>\n\n\n\n

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