888 Holdings And Caesars May Partner For Online Poker License

888 Holdings And Caesars May Partner For Online Poker License
Foreign online gambling companies have been positioning themselves over the past couple of years for a move into the US market. After Black Friday several months ago, many companies backed off their aggression in the US, but not 888 Holdings.Reports surfaced last week of how 888 was in advanced stages of negotiations with Caesars Entertainment to form a partnership. The two gaming giants would be positioned perfectly if and when online gambling became regulated in the US.The Gibraltar-based gaming company has been receiving good news from many different areas in recent months. The second quarter revenue figures were released and they were up nearly thirty percent. The company also acknowledged that they were considering applying for an online poker license in Nevada.The company may need to have secured funds in the future for expansion into major markets such as Spain and the US, although for the time being they are financially sound. The company understands that certain expansion efforts may be necessary to compete on a worldwide level.”It’s just we don’t want to miss no-brainer opportunities as they arise,” said Deputy Chairman of 888, Brian Mattingley.The US move would certainly be classified by many analysts as a “no-brainer.” With the countries online gambling laws in flux, the first companies to gain licenses in a newly regulated market could be in for a big payday. Several US-based companies have started to partner with foreign companies that have the platforms to immediately open up shop in the US should the laws change.Nevada legislators have already authorized online gambling, with the stipulation that no sites would be opened until the federal laws are changed. Currently there are three bills that have been proposed federally that would regulate online poker if passed.William Hill is perhaps the most successful of the foreign gaming companies, and they already have agreed to buy three sports books in Las Vegas. The company could then use the sports books and their good standing to gain an Internet gambling license when they are offered by Nevada regulators. July 25, 2011Posted By April GardnerStaff Editor, CasinoGamblingWeb.comSubmit News!

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