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888 Wins Gaming License in Nevada

888 Wins Gaming License in Nevada

The Nevada Gaming Commission has approved online gaming operator 888 Holdings and the Treasure Island Hotel and Casino for interactive gaming licenses in the state. 888, which owns and operates 888poker outside the United States, will provide the software for Treasure Island’s online poker room when the site is up and running in Nevada.

The independent operator will also provide an online poker platform for Caesars Interactive Entertainment and slot machine manufacturer WMS Industries in the Silver State.

“888 has chosen Nevada as its first U.S. market, and we are hopeful that future developments will present even greater commercial opportunities for 888’s Nevada-facing business,” CEO Brian Mattingley told commissioners during hearings on the licensure.

888’s licensing agreement with Caesars Interactive Entertainment will see Dragonfish, the business-to-business division of 888, power a selection of Caesars’ online poker brands. 888 and Caesars already operate a real-money World Series of Poker site in Europe.

Commissioners in Nevada have already approved 21 companies for interactive gaming licenses, including MGM Resorts International, Fertitta Interactive (Ultimate Gaming), Boyd Gaming and the Golden Nugget.

While income from its U.S. dealings could eventually be considerable, the games in Nevada?and elsewhere, if interstate games are legalized in the states,?would likely not have a significant bottom-line impact until 2015, the company said.

Mattingley said the United Kingdom is now 888’s largest market, representing 43 percent of the company’s overall revenues. In 2012, 888 Holdings collected $376 million in gaming revenues, the largest single-year total in the company’s history. The figure was a 13 percent increase over 2011’s total. Mattingley told the gaming commission the company has no long-term debt.

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