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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 :

NHL Odds: Lightning go for Season Sweep Over Red Wings - The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.

MPN Charity Poker Tournament at ICE 2017 - During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

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