It is only a matter of time until many states in the USA legalize online gambling. Three states have already legalized it and other states are pursuing their own online gambling legislations. This has pushed many gambling operators to lay out plans to engage in this new and ripe market once it officially opens, on a state level or a nationwide federal level.
One of these operators is the British company, 888 Holdings PLC. The company has created a joint venture with an investment partner from the USA. This would enable 888 to enter the market and launch this venture as soon as online gambling is legalized in the US.
888 provides online customer with numerous services including bingo, sports wagering, poker and casino products. The company has made an announcement on Monday saying that it has created a new company that is a joint venture with Avenue Capital Group. This new company is named All American Poker Network. This new joint venture would enable 888 to launch its different brands to the market of the USA as soon as a state based or a federal legislation is in effect and after they acquire the needed licenses. In a statement, the CEO of the company, Brian Mattingley said that to work with such a substantial financial partner gives the company the firepower it needs in order to enter the new market of the USA that is filled with opportunities.
The different American states are in a brutal race to legalize internet gambling but there is also a chance that it would be overtaken by the federal government. This is because there are efforts that are being made in order to pass a nationwide bill that might be introduced in the upcoming spring. Last month, the state of New Jersey joined Nevada and Delaware to become the 3rd state to legalize online gambling.
888 has also stated on Monday that it is planning to provide the residents of Nevada with online poker services. This will become reality after the company has signed a deal with Treasure Island, an operator in Las Vegas as well as acquiring the needed license approval from the gaming control board of Nevada at the beginning of this month.