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Thursday July 21,2011 : Assuming legalisation, Gibraltar firm may partner with Caesars
The release of 888 Holdings' Q2 results this week was an occasion for management to respond to questions...and some of them produced interesting answers.
The Bloomberg business news service asked deputy chairman Brian Mattingley about the US market and the possible legalisation of online poker, and Mattingley revealed that his company is in the “advanced stages” of talks with Caesars, the world’s biggest land casino company, about partnerships.
Mattingley was enthusiastic about a US-Nevada deal involving online poker, provided legalisation initiatives at federal level come to fruition; Nevada has already passed a law tasking its gaming regulators with preparing online poker regulations, contingent on the pastime gaining federal approval.
“We would love to do it with them,” Mattingley told the news service, adding that 888 would decide whether to try for the Internet poker licence by “mid-autumn.”
U.K. gambling companies are looking to lock up deals in the U.S. as states including Nevada and California consider Internet gambling. The major Brit bookmaker William Hill plc agreed to buy three companies to offer sports bets, which are legal in Nevada. 888 was licensed by Nevada for software services after it signed an agreement in 2009 with the interactive division of Caesars.
Mattingley told Bloomberg that his company would consider debt funding if it needed the money to expand in the U.S. or Spain, which is now developing online gambling rules. At the moment, 888 has no need for such funding, he stressed. “It’s just we don’t want to miss no-brainer opportunities as they arise,” he added.
888 posted a solid set of results showing that poker sales increased 58 percent to $13 million. The company said its number of active 888 casino and 888 poker customers on June 30 was 342,000, more than double a year earlier.
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PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
China Lottery Sales Up in 2016 -
The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).
New chairman and a new director for 500.com -
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
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