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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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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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