888 Well Placed for US Gambling Market
888 Holdings has said that it thinks European online betting companies have the edge over US rivals in the US market due to their previous experience there and record of expanding abroad.
The legal position in the US is changing and online gambling operators have the opportunity to return to the market, it is though that national legislation will be introduced in the spring.
888’s Chief Executive Brian Mattingley said that he believes “that the European operators, in particular bwin.party and ourselves, are best placed to operate within those markets, we’ve already done that”.
Last year 888 launched in Spain and Mattingley said that it was a “blueprint for going into new territories”.
Last week 888 signed a deal with Las Vegas operator Treasure Island to offer online poker in Nevada and Mattingley believes that the company will secure a “very significant market share” once the licensing procedure is complete.
888 recently reported earnings before tax and interest of $67 million for 2012, slightly higher than the consensus forecasts of $66.5 million and 25% higher than the year before. The company has said it started this year strongly will the average daily revenue 8% higher than in 2012.