Posted on Thursday, 10th September 2009 by admin
Online casino gambling company 888 has announced today that they signed an agreement with Harrahs Entertainment, one of the world’s largest casino providers. 888 will provide its online gambling services to Harrahs under the terms of the agreement.
Financial details were not disclosed, but the shares of 888 went up with 12%. 888 said its independent division, Dragonfish would support the launch and roll-out of World Series of Poker (WSOP) and Caesars Casino brands in the UK. Also Dragonfish will provide its poker and internet casinosoftware, its online payments solution, and customer support services to help grow the WSOP and Caesars brands online. Harrah’s is the operator of more than 50 casinosen is acquired in January 2008 by private-equity firms Apollo Management LP and TPG Capital for more than $14 billion. After signing the deal, shares of 888 rose with a staggering 14%. CEO with gamblingcompany 888, Gigi Levy, said it’s an amazing deal if the U.S. market opens up to online gamblingone day and it’s a good deal even if it’s Europe only. Levy said: “It’s going to be the big US players that take advantage of the situation. The easy entry for us, being that all these companies require infrastructure and services, is on the B2B side.” The agreement is good news for 888, which saw its shares drop a quarter in value in the last three months.
Tags: gambling, poker
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