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Avenue Capital Group and 888 In Deal

Monday March 11,2013 : 888 U.S. SUBSIDIARY INKS DEAL WITH MAJOR GLOBAL INVESTMENT FIRM
 
Deal with Avenue Capital Group aimed at B2C poker and gaming when regulatory conditions permit
 
The Gibraltar-based online gambling group 888 Holdings announced further developments in its strategy for the United States Monday, confirming its business association with land gambling group Treasure Island and unveiling a new joint venture deal with the major global investment firm Avenue Capital Group.
 
Working through its wholly owned US subsidiary, 888 poker announced that it has entered into a joint venture agreement with Avenue Capital to launch and operate a comprehensive B2C gaming offering in the US market upon regulation.
 
The newly formed company, incorporated in Delaware, is titled All American Poker Network (AAPN), and it will launch 888's brands into the US market using the company's proven gaming platform immediately as either federal or state-based regulation is finalised and upon licensing by gaming authorities.
 
Delaware is one of three US states that have signed online gambling legalisation laws into their books.
 
888 also confirmed its business association with Treasure Island, which surfaced when the two were granted preliminary approval for a Nevada online poker licence recently .
 
The launch of the Treasure Island poker enterprise will be carried out through the All American Poker Network created by the agreement with Avenue Capital, and will see AAPN provide 888's award-winning poker and back office platform to Treasure Island once the appropriate licence is in place.
 
The latest deals follow 888's partnerships with Caesars Interactive Entertainment and WMS, signed last year (see previous InfoPowa reports).
 
A 888 spokesman said that Avenue Capital Group has other interests in various terrestrial casinos and entertainment companies, making them an ideal partner for 888.
 
Brian Mattingley, CEO of 888, said in a statement on Monday:
 
"This is the perfect deal for 888, providing the ideal platform through which to launch our B2C brands into the US market, once regulated.
 
"Our WSOP agreement with Caesars gives us an excellent B2B 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, WMS. We now have a significant financial partner for our leading B2C product - the final piece in the jigsaw, completing our US online strategy.
 
"The agreement sees a leading US financial institution backing one of the largest gaming platform operators in the world, joining forces to tackle a potentially huge market. Working with a substantial financial partner provides the firepower that we need to take advantage of the significant opportunities that will be provided by a regulated US gaming market, and we are enormously excited by the opportunities that it will provide.
 
"The partnership with Treasure Island, a top tier casino property and operator in Las Vegas, is a further step forwards and another vote of confidence in our technology and people. We are well positioned to become a market leader in Nevada and other states as they regulate online poker going forward."



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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