Financial Titan Partners With Online Gambling Giant

October 9, 2013
Law Book

Rapidly becoming a major player and possibly the most significant and influential company in the early stages of legal gambling online in the United States, 888 Holdings out of Gibraltar has scored again. The company has already quietly become the cornerstone for US online gambling, and just recently announced a partnership with a multibillion dollar financial firm for delivering legal Internet gambling to the United States in the future. 888 is one of the largest worldwide online gaming companies, and currently owns deals to provide its interactive gaming platforms to Nevada, New Jersey and Delaware, the only three states which presently offer legal online betting in some form.

Multiple states are also pushing for inclusion in the burgeoning legal online gambling marketplace in the United States, with California almost guaranteed to deliver online gambling in early 2014. This partnership with New York City’s Avenue Capital Group gives 888 a billion dollar backer and incredibly powerful financial footing in the growing industry, as states like California legalize online gambling. 888 Chief Operating Officer Itai Frieberger was interviewed last month at the Global Gaming Expo in Las Vegas, and he stated that the goal of this partnership is to deliver a nationwide, US-based poker network which he and his company feel could “become a very lucrative market.” Legal online poker is something that players have been desiring for years.

The Avenue Capital Group is a US-based hedge fund with more than $12 billion in assets, and the new partnership with 888 is named the All American Poker Network. With virtually unlimited capital at its disposal, this new poker network will have money matters handled by a respected and experienced financial team with worldwide influence. And 888 is literally world-renowned for offering premier online gambling options, so the partnership is a venerable one to say the least. 888 Holdings CEO Brian Mattingley said that this new company will benefit online gamblers from the partnership of a leading US financial institution and one of the biggest online gaming operators in the world.

Already having developed a presence in all three states currently offering legal online gambling in the US, 888 has been delivering an Internet gaming platform of some sort since 1997. That makes them one of the more experienced online gambling providers in the industry, and as more and more US states enter the online gambling marketplace, the growing power and proven experience of the All American Poker Network will offer a quick and seamless entry into each new market. Frieberger pointed to the infrastructure his company has already established in Spain and Italy, and said that the new poker network’s goal is to establish a unique infrastructure specifically for US-based Internet gambling.

By developing a nationwide entity, the new partnership will be able to easily pounce on any new business opportunity provided at the state level, or if nationwide online gambling becomes a reality. But there should also be benefits regarding the attitude to online gambling in the United States at the judicial level with this announcement. The more reputable and experienced that companies become in the eyes of state and federal legislators, the friendlier those lawmakers are towards possible legislation allowing online gambling in the United States. With an established and respected presence currently in Nevada, Delaware and New Jersey, and worldwide experience going back to 1997 delivering Internet gaming at some level, 888 gives the new All American Poker Network substantial financial strength and stability through its intelligent partnership with the Avenue Capital Group.