888 has announced plans to offer a standalone online gaming product in New Jersey. This is in addition to the branded Caesars product it’s offering in that same market.
In a prepared statement, 888 CEO Brian Mattingly saw no conflict of interest with the plan saying, “We are providing the platform for Caesars but we are providing the one-stop shop that 888 is renowned for across Europe.”
In the frenzy of alliances and strategic partnerships that have marked the land rush in the US market, 888 has quietly positioned itself in the cat bird’s seat.
Last March the company quietly incorporated the All American Poker Network (AAPN) as its US subsidiary.
The Delaware-based corporation will act as base camp for Euro-giant’s American operations; wherever they may be. (Besides being one of the states that’s prepping for online gambling, Delaware offers generous tax incentives for businesses willing to incorporate there.)
So far, AAPN has been very busy as the 888-front is prepping a site for Treasure Island that should launch by the end of the month. 888 has breezed through licensing hearings in Nevada which bodes well for their chances of finding success in the other American markets.
All this news has been great for 888 investors who’ve seen the company’s stock price double over the last year.
As of this writing, there’s no word on when 888 plans to launch its New Jersey product.
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