888 Cements Online Poker Position by Extending Caesars Deal
Gibraltar-based gambling group 888 Holdings announced Tuesday its existing exclusive poker partnership deal with US casino operator Caesars Entertainment was extended, to see the online gaming operator continue to power the digital poker platform of Caesars, including online poker rooms utilized by the World Series of Poker (WSOP) brand.
Shared Poker Player Liquidity
The multi-year extension agreement with the largest casino operator in the US would allow 888 to continue to supply gaming technology for the interstate shared liquidity of poker players in the US, which includes residents from New Jersey, Delaware and Nevada, as well as utilize its proprietary B2C online poker, casino and sports betting platform across Caesars’ brand Harrah’s.
“We are excited at the prospect of adding new states to our unique interstate poker network in 2021 and beyond, which we believe would drive a significant increase in liquidity for poker players on the 888 platform.”
Yaniv Sherman, Senior Vice President and Head of US, 888
Under the deal extension, action at virtual rooms of WSOP would be powered by 888’s next generation software platform, Poker 8, initially launched in Europe in November 2020 having completed a 2-year development cycle.
Expansion Vehicle
The WSOP poker brand supplied with technology by 888 since 2013, under the extended deal, would become a vehicle for expansion for the iGaming operator into other states such as Pennsylvania, where Caesars holds licenses to offer online gaming.
“Our extended relationship will also enable 888 to gain a presence in new US states following the required regulatory approvals, which presents an important opportunity in our long-term development strategy for the market.”
Yaniv Sherman, Senior Vice President and Head of US, 888
As Caesars moved swiftly to bring in house sports betting technology with the acquisition of UK-based William Hill, there were some concerns a similar approach would be adopted by the casino giant with regards to online poker, but the deal extension with 888 showed otherwise.
Leadership Role
Already having earmarked 888 as one of the growth-potential stocks to watch in 2021, analysts at Peel Hunt investment banking company believe the extension of the deal with Caesars further cemented 888’s position for the interconnected poker player market in the US, as for the B2B, so for the B2C segments.
Establishing an early leadership in the US online poker market would only turn out to be of greater significance for 888 as more and more states decide to regulate the gaming vertical and allow their residents to join the interstate shared pool of players, Peel Hunts analysts concluded.
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