London-based 888 Holdings PLC has announced it has agreed to partner with Caesars Interactive Entertainment, leveraging its years of experience to gain a foothold in a potentially massive US online gambling market. “We are extremely well positioned in the US and are working with the regulators in Nevada, Delaware, and New Jersey as these three states become ready to open,” CEO Brian Mattingley delivered in a statement. The agreement with Caesars will allow 888 to launch a business to consumer casino and poker product, a move that has international banking group Investec PLC giving a big thumbs up.
According to Investec, 888 Holdings stock had been given a “buy” rating because it has demonstrated “strong and consistent revenue growth, as well as exceptionally attractive US profit opportunities that have been materially improved following today’s announcement with Caesars.” The report goes on to remind investors that any benefits provided by the foothold in the US onling gambling market will likely not be seen until FY2014.
888 Holdings PLC is a publicly traded, London-listed company that operates several high-profile online gambling websites. It was founded in 1997.
Online bingo really ramps up in popularity around the holidays. Because people have so much free time in December away from their jobs and other obligations, there's a bit of an influx of individuals with plenty of time to get in on the action in online bingo rooms. 888 Holdings has decided to take advantage of that with the release of the new Jingle Bingo online bingo room.
The selection of games at Jingle Bingo will seem familiar to veteran players.
For anyone who has been around the online gambling world for any amount of time can tell you, companies are constantly being bought and sold. Whether it's a large software company purchasing a smaller one to boost their portfolio and prevent future competition, or whether it's a large investment group buying up companies they believe are undervalued, there's always some kind of business news attached to the online gambling industry.
A marketing agreement between Golden Gaming and Gibralter-based 888 Holdings has been given preliminary approval last week, allowing tavern operators to offer their customers online poker through a website that will also include Treasure Island.
The marketing agreement includes the following: