Harrahs Interactive and 888 Online Partner Deal
Published: Friday, September 11, 2009 Online-Casinos.com
Dragonfish is 888's business to business division and part of the U.K.'s second-largest online gambling company. Shares in 888 rose an amazing 14 percent on the exchange after the public announcement that the company has signed a deal with Harrahs' Interactive Entertainment. The new division of Harrahs, which is the worlds largest casino company, does not at this time provide online casino action in the USA. It's interactive division is headquarter in Montreal, Canada.
Dragonfish will provide poker and casino services to Harrah's in "a multimillion dollar" deal that is thought to be a pro active move that will pave the way if and when the USA opens it's doors to the online gambling world.
Gigi Levy, 888's Chief Executive Officer, said, "It's going to be the big U.S. players that take advantage of the situation" "The easy entry for us, being that all these companies require infrastructure and services, is on the B2B side." The 888 firm will offer support services in gaming and payment software for Harrah's World Series of Poker and Caesars Casino brands in the U.K..
James Hollins, who is an analyst at Daniel Stewart & Co. said, "The real massive boost could be if Harrah's partner with 888 in the U.S." adding that he was surprised that Harrah's chose to partner with a company that has so far declined to seek a settlement with the Department of Justice in the USA over its operations in there.
Levy said, "The environment is not very clear for the need or visibility of signing such a deal" adding, 888 is also in probing business contracts with a "few other U.S. companies and not just in the field of casinos" This deal is a hedged bet, should the expected changes come around the bend in the USA, offshore companies connected to American ones are more likely to get a seat on board.
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