888 Prepares for American Launch
The online gambling company 888 Holdings has set up a joint venture with a Us investment partner with the aim of launching as soon as online gambling is legalised within the US.
888 announced at the beginning of the week that it has formed a new company, the All American Poker Network, together with Avenue Capital Group. The new venture is aimed to launch 888’s brands into the US market as soon as either federal or state based regulation is finalised and the company receives the appropriate license.
CEO of 888, Brian Mattingley, said that “Working with a substantial financial partner provides the firepower that we need to take advantage of the significant opportunities that will be provided by a regulated U.S. gaming market.”
The US is steadily moving towards legalised and regulated online gambling, with three states already having approved it. The regulation has created a great opportunity for London based firms, such as 888 and bwin.party, who already have experience of operating gambling networks within Europe.
888 also announced that it has signed a deal with Las Vegas operator Treasure Island and is planning on launching online poker in Nevada.