888 Received Licenses to Operate In Nevada

6 May 2013 – By Linda Jefferson

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The United States represents one of the biggest markets for online gambling operators all over the world. Recent news from US has made companies in this industry extremely enthusiastic about their future on this market. 888, one of the biggest names in the online casino industry, could launch an online gaming offering in Nevada, as soon as May, after the group won the first ever US license to be awarded to an internet betting firm. United States banned online gambling in 2006 and London-listed 888 Holdings Plc is the first internet gambling company to receive the permission to operate in an American state, since 2006. Sources close to the situation said that 888’s launch of online poker in Nevada could come as early as mid-second quarter. Although revenues from Nevada alone are likely to be limited and will likely not have a significant bottom-line impact until 2015, this is the first step that will allow 888 to access a wider regulated US online gaming market.

The company’s representatives said the decision had been expected after the Nevada state gaming control board voted to recommend approval earlier this month. This is an historic moment for 888 as this is the first time a company uniquely providing online gaming has been licensed by any US jurisdiction. 888 announced plans to launch online poker after signing a deal with Las Vegas operator Treasure Island. Also, the company will power the web spin-off of Caesars’ World Series of Poker tournament and has agreed a deal with slot machine operator WMS to give it an online presence.

The legal position in the United States is changing and national legislation is set to be introduced in the spring. The federal government in Washington looks to overtake tax revenue-hungry states which are racing to follow Nevada in legalization. One of the biggest states involved in gambling, New Jersey, has announced last month that they legalized internet gambling in the state. The experience and infrastructure from years of operating in Europe will give companies like 888 or larger rival bwin.party an important advantage of the move towards a regulated market.

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