888 Holdings And Harrah’s Entertainment come to an agreement.
After a contract with Harrah’s Entertainment, the value of 888 Holdings has increased significantly in the stock market. This agreement paves the way for a possible re-entry into the U.S. market. The price of shares of 888 Holdings, the second largest gaming company online in the UK has increased by 14%, the most significant growth since December 2008.
As announced by the company’s CEO, the division of 888 Holdings dragonfish provide Harrah’s service games (poker and other casino games). 888 are interested in investing in the business sector-to-business and the agreement with Harrah’s will allow it to make a move quickly if the situation in the United States has a good turn.
“These are big U.S. companies that benefit from the situation,” said Gigi Levy, CEO of 888. Since all these companies need infrastructure and services, our entry will be facilitated by the B2B contracts. “
The businesses operate online gaming was banned in the United States after Congress put off law transactions involving such companies. 888, and other businesses alike, was then removed from the country. At that time (2006), half of company revenues came from U.S. customers.
The partnership with Harrah’s has provided services for registered World Series of Poker and Casino Caesars, regarding their presence in the United Kingdom.
“True revival is when Harrah’s was a partnership with 888 Holdings in the United States,” said analyst James Hollins. It is surprising that Harrah’s chose to partner with 888 Holdings. The company has so far refused to reach a compromise with the Department of Justice regarding its operations in the United States.
However, 888 Holdings also plans to sign additional contracts with other U.S. companies, not only in casinos. Its director would also acquire in the next quarter.
888 Holdings, Congress, dragonfish, Gigi Levy, Harrah's Entertainment, United States, World Series of Poker
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