888 Holdings to Launch Its US Online Poker Operations in Partnership with …

Online gaming company 888 Holdings is all set to launch its four key online gaming products: casino, bingo, poker and sports betting in Nevada, Delaware and New Jersey. To date, only these three U.S. states have opened their doors to Internet gambling, by passing state legislation that legalizes Internet-based betting for both their respective residents and to online gaming and casino operators.

As part of their preparation, the online gambling company entered into a partnership with Avenue Capital Group, one of Delaware’s leading financial institutions. The union brought forth a joint venture called “All American Poker Network (AAPN)”, aimed at providing business to customers (B2C) online poker offering in all three states. Avenue Capital Group’s role is to give financial support by including AAPN in their hedge fund portfolio for both U.S. and international capital markets.

The financial backing will allow 888 Holding to carry out its aggressive plans of launching not only its license to run Nevada’s Treasure Island and Caesar’s Entertainment online poker operations; but also to act as a licensed manufacturer, distributor and service provider of gaming systems software for other Nevada casinos. In Delaware and New Jersey, online casino gambling operations will be in partnership with Caesar Entertainment Corporation and not just for online poker. These two states, however, have yet to smooth out their online casino gaming regulations before 888 can secure the necessary license.

Although many would like to see New Jersey beat Delaware in garnering the title for being the first U.S. state to legalize online gambling, the key to quick expansion of Internet gambling in the U.S. soil is the manner by which these three states regulate their respective online gaming industry.

Filed Under: Gambling

Article source: http://www.adi-news.com/888-holdings-to-launch-its-u-s-online-poker-operations-in-partnership-with-avenue-capital-group/214887/

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