First Foreign US I-Gaming Company Named 888 Holdings
7th May 2013
The first foreign Internet gambling company to legally operate in the United States has been named as Gibraltar based 888 Holdings.
In a joint venture with US firms Scientific Games Corporation (SGMS) and Williams Interactive LLC, 888 Holdings has been granted a license to operate online gambling operations in the Commonwealth of Delaware. The partnership was chosen by the Delaware State Lottery to create the proposed intrastate gaming system to offer state residents video lottery games, online poker and casino table games.
In a slick move by 888, the partnership with the two US companies was forged some time ago in preparation for their expected re-entry into the US market at such time as the laws became favourable. Scientific Games were chosen because the company already provides the technology to run the Delaware state lottery.
Bill In Place
Delaware itself had been busy creating the basis for this to take place by passing a bill as long ago as June, 2012 to legalise online gambling, although a lengthy process had to be followed to ensure the transition went smoothly. By March this year, the state had accepted and was considering applications from 14 companies which included PokerStars, International Game Technology and Amaya Gaming.
However, the final choice went to the 888 three way partnership thanks to their long established track record in the online gambling industry combined with the already established lottery provider for the state, Scientific Games plus the many premium products and services already provided by Williams Interactive. Delaware Lottery is set to be the sole regulator of all real money gambling done on the Internet and they plan to launch the first available games by September 2013.
In a press release, as spokesperson for 888 noted, "This offering combines 888's decade-long experience at the forefront of the online gaming industry with Scientific Games' proven ability to provide added value, turnkey solutions to government-sponsored and commercial gaming operators and Williams Interactive's premium i-gaming products and services."
Land Based Betting In Place
The state already runs its own land based casino gambling and sports betting program. The move to the online stage is seen as a logical expansion of their long term goals for intrastate gambling that is legal, regulated and most importantly central to their future financial growth and stability through proper taxation.
It is expected that other states will follow the lead already instigated by Nevada and now Delaware once they see the potential for regulating the industry that has for years been operating illegally and siphoning billions of the country's tax dollars to offshore havens. It simply makes logical sense to capture those tax dollars for the benefit of the individual state's and provide better protection for their citizens who seem to be prepared to gamble online regardless of whether it is legal or not.
