Brands owned by Caesars Entertainment Corporation include Planet Hollywood, Caesars Palace and Paris.
Gaming giant 888 Holdings is one of the world’s best known online gaming entertainment providers. Founded in 1997 in the British Virgin Islands, 888 Holdings is responsible for and the owner of 888 casino. This online casino leaves a lot of extra bells and whistles to other sites without sacrificing variety, safety and fair play. Poker, bingo, blackjack and roulette are all offered through 888′s Casino site. And soon, both American and UK residents could benefit from expansion plans that take advantage of recent legislation changes in the US regarding online casino betting.
888 Holdings is in talks with Caesar’s Entertainment Corporation to form a strategic alliance. Ceasar’s (an American company that operates casinos in Las Vegas) owns brands such as Harrah’s, Ceasars, Flamingo, and Rio. The plan is to reach an agreement by mid-autumn. What’s in the cards for these two Titans of the gaming industry?
It’s tough to say at this early of a stage. But it’s not out of the realm of possibility that the two companies will trade information that will help them succeed in expanding their markets and their products. Caesars will no doubt be interested in breaking into the online casino market in the US that has been banned for decades, while 888 will be interested in capturing some of the market share in that area as well.
A strategic alliance is not quite a partnership. 888 will be able to obtain its own license to operate in the United States once it meets certain required regulations. Therefore, sharing profits in a partnership may not be entirely desirable. According 888 they have enough of their own capital to expand into the US but aren’t against debt financing for the right opportunity.
888 Gibraltar Headquarters Pictured Above.
The Wire Act of 1961 is responsible for an upsurge in US online gaming interest as of late. For years the act seemed to prohibit online casinos, but a recent change in federal interpretation now states the Act allows for individual states to make their own decisions regarding intra state gambling. While the issue is still divided and regulation has yet to be decided on, foreign businesses and traditional casinos in Nevada are chomping at the bit to get some of the estimated billions of dollars online US gamblers would generate.
