888 agree US online gaming deal

Holdings have signed a US online gaming joint venture.

The online operators have reached an agreement, via a US subsidiary, with global investment firm Avenue Capital Group which will see them launch and operate a “comprehensive” B2C gaming offering in the US market when it is legal to do so.

The new company will be called All American Poker Network or AAPN and will launch 888's brands into the US market immediately “as either Federal or state-based regulation is finalised and upon licensing by gaming authorities”.

The gaming giants have also agreed a deal with land-based casino operators Treasure Island for the launch of online poker in Nevada.

The arrangement will see AAPN provide 888's poker and back office platform to Treasure Island for the launch of an online poker proposition as and when the appropriate licence is in place.

888 CEO Brian Mattingley said of the joint venture: “This is the perfect deal for 888, providing the ideal platform through which to launch our B2C brands into the US market, once regulated.”

“We now have a significant financial partner for our leading B2C product - the final piece in the jigsaw, completing our US online strategy.”