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888 Moves Into US Online Gambling Market With New Venture

Now that Nevada and New Jersey have passed online gambling regulation laws, foreign companies are moving quickly to get in on the action. The latest company to make a strong move into the US is 888 Holdings. The company announced their arrival in the US through the All American Poker Network.

This is not the first attempt from 888 to move into the US market. Previously, the company has signed a deal with Caesars, to help launch online casinos in Atlantic City. Caesars has four casinos in New Jersey, and will gain the right to offer online casinos in the coming months.

That partnership, however, was not broad enough for 888. The company has the financial backing of the Avenue Capital Group investment firm in the All American Poker Network endeavor. The network is being branded as an outlet for online poker, but will not officially be launched until licenses and regulations are in place.

"This is the perfect deal for 888," said CEO Brian Mattingley. "providing the ideal platform through which to launch our business-to-customer brands into the US market, once regulated."

888 joins several other foreign companies that now see the light at the end of the tunnel for the US Internet gaming industry. Bwin.party has made the most significant partnership of the other companies, joining forces with Boyd Gaming and MGM. Those deals will help get Bwin into Nevada.

A separate deal made by 888 with Treasure Island gaming group, will allow 888 to enter the Nevada market. The deal with Avenue Capital has the ability to become even greater should more states regulate the industry.

"The agreement," said Mattingley. "sees a leading US financial institution backing one of the largest gaming platform operators in the world, joining forces to tackle a potentially huge market."

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