According to iGaming Business, online gambling mega-operator 888 Holdings has established a joint venture with Avenue Capital Group, a global investment group, to create an online gambling offering in the United States, pending state or federal regulation.
The All American Poker Network, the name of this joint-venture project, will provide its product wherever it will be legal to play online poker in the United States. 888 Holdings currently is awaiting final authorizations to provide online poker to three casinos in Nevada. Treasure Island Hotel and Casino and Caesars Entertainment Corp are among the three iGaming Licenses recommended for approval by the Nevada Gaming Control Board.
Said Brain Mattingly, CEO of 888 Holdings, in the iGaming Article:
“Our World Series of Poker agreement with Caesars gives us an excellent business-to-business deal with one of the largest global gaming brands and most prominent casino operators and we also have a strategic alliance with one of the largest gaming machine manufacturers in the world [in] WMS Industries Incorporated. We now have a significant financial partner for our leading business-to-consumer product, the final piece in the jigsaw completing our United States online strategy.”
Mattingley goes on to state that the venture project could not only “tackle a potential huge market” bu also takes advantage of “the significant opportunities that will be provided by a regulated United States gaming market.”
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: