888 Holdings PLC is a London listed online gambling company offering online casinos, poker , sports betting, games and bingo.
Reuters has reported that, online gambling juggernaut 888 Holdings has been granted a Nevada licence providing hope that the American online gambling market could open up very soon.
The license is of significant importance as this is the first time in 7 years that an online gambling company has been granted a license to operate in the US. In 2006, U.S. Congress passed the Unlawful Internet Gambling Enforcement Act (UIGEA) that banned the use of credit cards and other financial instruments for the purpose of illegal Internet gambling.
888 could launch its poker client as early as the 2nd quarter of the year, around May-June.
Chief Executive Brian Mattingley was quoted as saying,”This is an historic moment for 888. This is the first time a company uniquely providing online gaming has been licensed by any U.S. jurisdiction” .
888 has made several power moves in to the US market in the last two months.
First they signed an exclusive deal with Las Vegas operator Treasure Island to set up an online poker presence under its own brand.
Secondly, they signed a deal with Ceasers of Las Vegas to set up and operate their online spin off of Caesars’ World Series of Poker.
Thirdly, they have made a deal with land based slot machine operator WMS to set up and power their online slots.
888 Holdings is listed on the London Stock Exchange and news of their Nevada license has sent stock price up by 4.87% to 167.
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