888 to launch own brand US casino
888 are heading full steam into the new US regulated online gaming market and will be doing so under its own brand. CEO Brian Mattingley stated that, "We are extremely well positioned in the US and are working with the regulators in Nevada, Delaware and New Jersey as these three states become ready to open." It is indeed and it's deals all in three states place it as an initial leader to succeed in what will be an extremely competitive market place. After pulling out of the US market post UIGEA in 2006 thus avoiding any 'bad actor' clauses that may be imposed by states entering the regulated arena it has meant that they were permitted to apply for licenses in all states of the union, and have done just that.
The changing of laws in the states regarding online gambling has meant that a flurry of European companies have been quick to act in these early stages and major players such as Bwin .Party and PokerStars have all applied in one or more state while teaming up with large casinos to provide the online option for poker and casino games players. PokerStars have had the roughest ride due to them having done business in the states after the UIGEA bill came into being and have been excluded from Nevada due to the bad actor clause. 888 already has an agreement in place in New Jersey and will be working with Caesar's Interactive Entertainment. It's been a busy time in the Garden State with 37 companies having applied to take part in the new venture and 12 casinos of Atlantic City have also applied. With New Jersey having by far the largest population of the 3 regulated states it has been the center of attention for many companies. They will of course be fighting for a share of the revenue, however there's more at stake as those who do well there will quite possible create a name for themselves and be in better position when more states open up. On the back of this news 888 shares have continued to do well and second quarter revenues are up 5%.