888 Holdings Announces New All-American Poker Network; Treasure Island to be First Skin
Gibraltar-based 888 Holdings has announced the formation of a Nevada-based poker network, called the All-American Poker Network (AAPN), which will launch in the near future. The new deal based on 888’s software platform also involves the investment group Avenue Capital Group in a package structured to bring “business-to-consumer” online poker offerings to US players, wherever regulated and allowed by law.
A Treasure Island-branded online poker site owned by Las Vegas’ stalwart Treasure Island Hotel and Casino will be the first site to be launched on the new AAPN, according to an 888 presser released this morning.
Both 888 and Treasure Island recently sailed through suitability hearings conducted by the Nevada Gaming Commission last week, and are expected to be granted their interactive licenses when the NGC reconvenes later this month.
888 Holdings, the parent company of Pacific Poker, one of the oldest of all online poker sites, has marketed its online poker platform and related software services to several Nevada casino entities, reaching deals with some of the state’s biggest names.
888 had previously reached a deal with Caesars Entertainment to provide similar online-poker software services, with that deal already approved by Nevada regulators pending 888’s own license approval, which now has happened. The 888/Caesars deal is expected to help bring several of Caesars’ brands into play as Nevada-based online poker brands, including but not limited to Caesars, Harrah’s and the World Series of Poker.
888 has also entered into an agreement with veteran equipment manufacturer WMS Industries Incorporated, a division of WMS Gaming. That deal is expected to put into place the hardware and infrastructure needed to power the Nevada online poker sites.
The complete 888 press release follows:
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Online gambling operator 888 Holdings has established a joint venture with investment firm Avenue Capital Group to launch a business-to-consumer gaming offering in the United States upon regulation.
Gibraltar-based 888 revealed that the agreement will see the new All American Poker Network (AAPN) joint venture provide its brands to the American market using its gaming platform following regulation by state or federal authorities.
Last week saw 888’s applications for three associated iGaming licences recommended by the Nevada Gaming Control Board and the firm has additionally agreed a deal to provide an online poker offering to that state’s Treasure Island Hotel and Casino. The Gibraltar-licensed operator is already planning to work in partnership with land-based casino operator Caesars Entertainment Corporation in Nevada and now envisions AAPN providing a poker and back-office platform to the Las Vegas venue following the securing of the appropriate authorisations.
“This is the perfect deal for 888, providing the ideal platform through which to launch our business-to-consumer brands into the United States market once regulated,” said Brian Mattingley, Chief Executive Officer for 888.
“Our World Series of Poker agreement with Caesars gives us an excellent business-to-business deal with one of the largest global gaming brands and most prominent casino operators and we also have a strategic alliance with one of the largest gaming machine manufacturers in the world [in] WMS Industries Incorporated. We now have a significant financial partner for our leading business-to-consumer product, the final piece in the jigsaw completing our United States online strategy.
“The agreement sees a leading United States financial institution backing one of the largest gaming platform operators in the world joining forces to tackle a potential huge market. Working with a substantial financial partner provides the firepower that we need to take advantage of the significant opportunities that will be provided by a regulated United States gaming market and we are enormously excited by the opportunities that it will provide.
“The partnership with Treasure Island, a top-tier casino property and operator in Las Vegas, is a further step forwards and another vote of confidence in our technology and people. We are well positioned to become a market leader in Nevada and other states as they regulate online poker going forward.”