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888 gambing Going To Italy
Internet gambling group assembling potent partnerships
In a conference call Tuesday 888.com chief executive Gigi Levy outlined the potent partnerships his company has assembled in the burgeoning Italian online casino market, flagging agreements with Endemol, Bwin and more recently Microgame SpA.
Levy outlined the hard yards put in by his group in building an Italian presence, and revealed that Bwin and Microgame together dominated the market in Italy with a 50 or more percent market share. The internet gambling exec also revealed that more deals are in the pipeline.
In contrast, Levy said that despite initiatives into the newly liberalised French market, this region was not the primary focus of 888.com. This was mainly due to market drawbacks such as heavy taxation on operators and the absence of casino and bingo action at present in the games allowed by the regulator.
“When you look at France, that is probably a very bad combination for us,” he said. “It is only sports and poker. In sports, our offering is not really relevant at this time. With poker, we have not yet entered the market; we want to see how it works out. The taxes are high so the ecosystem is under pressure, there is no casino; no bingo....”
Gigi also reviewed the company’s position in the United States, admitting that he has been involved in talks with the US Department of Justice, and that he was encouraged by the positive [HR2267] recent developments in that country, where 888 is discussing possibilities with as many as 10 possible US partners.
He drew attention to the 888 b2b deal with the interactive division of Harrah’s Entertainment, pointing out that as far as he was aware this remained the only significant deal signed with an American entity so far.
The Harrah’s deal has resulted in a requirement for the approval of the Nevada Gaming Board, and the investigation by that body into 888.com’s suitability remained in progress, he revealed, adding that it was a sensitive process but that it was hoped the results would be released before the end of 2010.
In related news, the Reuters news service reported Tuesday that 888 had been approached by unidentified rivals seeking a merger following last week's tie-up between Austria's Bwin and Party Gaming.
The merger puts pressure on other companies in the sector to strike deals or risk losing out as online gambling laws are relaxed across the world, the news agency commented, adding a quote in which Gigi Levy said:
"This puts us in a position in which we are one of the best assets in the field - we got a few phone calls immediately from various people. Everybody in the industry is looking and saying 'who is the best one to merge with if we need to?'."
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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