March 30, 2011

Regulators approve Caesars link with 888

The Nevada Gaming Commission regulator yesterday approved the business relationship between Caesars Interactive Entertainment Incorporated and 888 Holdings under the language of the Nevada Foreign Gaming Act.

Gibraltar-based 888 is one of the world’s largest operators of Internet gambling operators while Caesars Interactive is the online subsidiary of Caesars Entertainment Corporation, the globe’s largest land-based gaming company.

888, through its Dragonfish independent business-to-business division, signed a long-term agreement in 2010 to provide Harrah’s Interactive with technology and services to operate online gambling sites for the World Series of Poker and Caesars brands. Although these domains are only available to players in the UK and not those in the United States, Las Vegas-based Caesars Entertainment submitted requests to the Nevada Gaming Commission and the Nevada State Gaming Control Board last year in order to discover the ‘suitability concerning (Harrah’s Interactive Entertainment’s) supplier relationship with Dragonfish’.

“The application relates to state law in Nevada that covers Nevada gaming companies conducting gaming outside the state of Nevada,” read a statement from 888.

The Foreign Gaming Act was last cited in 2007 when regulators found Hong Kong businesswoman Pansy Ho suitable to serve as a business partner for MGM Mirage in their shared ownership of the MGM Grand Macau. However, this marked the first time that regulators investigated the suitability of an online operator that took wagers from Americans before the enactment of the Unlawful Internet Gaming Enforcement Act of 2006.

The business relationship between Caesars Interactive and 888 was approved by the Nevada State Gaming Control Board two weeks ago while Thursday’s endorsement by the Nevada Gaming Commission marked the first time that regulators had explicitly allowed a land-based casino operator to do significant business with a foreign company offering online gambling.

“We are pleased with the successful outcome of this review by the Nevada Gaming Control Board and Nevada Gaming Commission,” said 888 chief executive Gigi Levy. “We look forward to our continued relationship with Caesars.”

1 comment:

  1. Well, this is a great news indeed! As another collaboration of two of the biggest gaming companies is now heading up. I'm just hoping that they will continue to give the best of their effort to satisfy their players! Furthermore, this must be the beginning of standing out of the gaming community within the State.