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A New Deal for Online Casino Company

The value of 888 Holdings rose significantly this week as the new deal was announced that will see Harrah’s Entertainment, a leader in the land gambling industry, partner up with 888’s business to business division, Dragonfish for the launch of online casino gambling. Harrah’s announced earlier this year that the company planned to launch an internet gambling division that would headquarter in Montreal, Canada and would operate in international gambling markets…all except for the US market. Harrah’s is the largest land casino operator in the world and the company is based largely out of the US. For that reason it just would not do for the company to illegally offer online casinos to US gamblers at this time.

The new gambling division will aim at the international market in the hopes of eventually moving into the US online casino gambling market if the federal legislation ever changes. At this point though, the US legislation banning the offshore online casinos is still very much in place and as such Harrah’s is beginning to develop the business for exiting open foreign markets with the US market in mind. That is where 888 comes into play. 888 Holdings is a strong brand in the European market, but one that has actually encountered some problems with the US market in the past several years which makes the company an interesting choice for Harrah’s.

888 settled with the US government on the charges related to illegal offshore online casino gambling activity and over the past several years that situation has cast a pall over 888 stocks and trading value. Harrah’s B2B agreement though has boosted international confidence in 888 and the company has seen a whopping 14 percent increase in share values.