(Reuters) - British bookmaker 888 Holdings ( EIHDF ) said on Wednesday it was looking at options for its direct-to-consumer U.S. operations, including a potential sale or controlled exit, as the division grapples with intense competition and lower margins.

888, which is active in four U.S. states, said it was terminating its agreement with Sports Illustrated-parent Authentic Brands and would pay a termination fee of about $25 million.