Noticias de ultima
  • 12.00 Andrés Troelsen analyzes how Belatra Games went through the recent edition of SAGSE
  • 12.00 BetConstruct Introduces 3 New Advanced Services: Zone Solutions, Pro DDOS Protection and Business Dashboard
  • 12.00 Total success at SAGSE Latam: Land Vegas and Novomatic celebrate successful collaboration
  • 12.00 Sportradar and Oddin.gg ink AV betting agreement to elevate and expand esports reach
  • 12.00 Soft2Bet granted Ontario Certification of Registration and readies for imminent launch
  • 12.00 Spinning the Reels in the Limelight: How streamers are revolutionizing slot gaming, by CT Interactive
  • 12.00 Commission approves project that allocates part of lottery revenue to institutions that care for the elderly
  • 12.00 Fast Track welcomes PolarLotto: Taking online lotto in Sweden to new heights
  • 12.00 Largest U.S. sportsbooks join forces to tackle problem gambling
  • 12.00 Exciting news: 1SPIN4WIN teams up with ATLAS-IAC
Sportsbook

888 Looks to Cement Itself in US Gambling Market with All American Poker Network Purchase

Tuesday 11 de December 2018 / 10:45

2 minutos de lectura

(United States).- 888 positions itself for US expansion with All American Poker Network acquisition for a total consideration of $28 million

888 Looks to Cement Itself in US Gambling Market with All American Poker Network Purchase

Online gambling operator 888 Holdings today announced that it has acquired the remaining 53% shares in All American Poker Network (AAPN) in a bid to pursue further expansion in the US gambling market.


888 said in a press release from earlier today that it will pay $28 million in cash to assume full control of the US-focused online poker network. The gambling company set up AAPN back in 2013 as a joint venture with US partner Avenue OLG Entertainment LLC. The joint venture was established to help 888 launch its online gambling brands in New Jersey’s iGaming market, which had just been regulated at the time. The 888poker and 888casino brands went live in the state in the fall of 2013.


888 said in today’s press release that the acquisition of AAPN will give it “independent control of its growth strategy in the US.” Similarly to other major gambling companies, 888 has been looking to expand and cement itself in the US market, following the mid-May US Supreme Court ruling that struck down a federal ban on sports gambling. Legal sports betting operations have started in eight states since the landmark SCOTUS decision and many more are expected to join the bandwagon next year.


888 launched its sports betting brand in New Jersey in September, marking its first time of operating sports gambling in the US. The company recently signed a sponsorship agreement with the New York Jets that became the first of its kind between an online gambling company and an NFL franchise.


Additional Operational, Technological, and Commercial Flexibility


888 Chief Executive Itai Frieberger said today that the acquisition of AAPN will give 888 “additional operational, technological, and commercial flexibility” to develop innovative and exciting partnerships and launch its products in new states.


The transaction “places 888 in an even better position to take advantage of the significant growth opportunities in the US”, the executive added.


In addition to New Jersey, 888 has also been operating in Nevada and Delaware for a while now. It previously began offering online poker liquidity to players from the aforementioned two states through its AAPN network. New Jersey players were allowed to take advantage of the opportunities shared poker liquidity offered in May 2018. Following the liquidity rollout, players from the three states were able to compete for a cumulative jackpot and participate in joint tournaments. 888 shares were up more than 16% on the London Stock Exchange on the day of rollout.


888 said today that to complete the AAPN transaction, it would pay $10 million on or around the day of the announcement of the deal, and another $18 million by the end of March 2019.

Categoría:Sportsbook

Tags: betting software, Casino Online, casinos, online gaming, Sports Betting, Sports Gaming , Sportsbook , 888,

País: United States

Event

SBC SUMMIT RIO 2024

05 de March 2024

Andre Gelfi explains the new regulation in the Brazilian gaming and betting market

(Rio de Janeiro, SoloAzar Exclusive).- The Managing Partner of Betsson group in Brazil, Andre Gelfi, was another key figure present at the inaugural SBC Summit Rio. In this exclusive interview with SoloAzar, he shared insights about the gaming and betting market in Brazil. Gelfi emphasized the hot topic of Brazilian regulations for the iGaming industry. In fact, he expressed his anticipation that the regulation, expected to be approved this year, will create a new landscape in the Brazilian market

Wednesday 27 Mar 2024 / 12:00

Influencers: "Between Effectiveness and Responsibility in the Gaming Industry".

(Rio de Janeiro, SoloAzar Exclusive) - As part of the Conference "Influencers: The Next Frontier of Social Media Marketing", as part of the Conference Agenda held on 6 and 7 March at the SBC Summit Rio 2024, leading industry personalities gathered in a panel to discuss the impact of the power of celebrities and influencers in generating engagement, as well as the proposed law that seeks to restrict their promotion of gambling.

Wednesday 27 Mar 2024 / 12:00

Pay4Fun: “We have ambitious expansion plans in the Brazilian market”

(Rio de Janeiro, SoloAzar Exclusive).- Leonardo Baptista, CEO and co-founder of Pay4Fun, is a key figure in the world of iGaming. His company, Pay4Fun, is a leading Brazilian online payment provider specializing in the iGaming market. During the first edition of the SBC Summit Rio, Baptista spoke exclusively with Soloazar, sharing insights about the new services that Pay4Fun will introduce to the market. He also discussed his vision for the future of iGaming in Brazil and Latin America. Another unmissable note by SoloAzar.

Wednesday 27 Mar 2024 / 12:00

SUSCRIBIRSE

Para suscribirse a nuestro newsletter, complete sus datos

Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.

PODCAST

MÁS CONTENIDO RELACIONADO