Online gaming company 888 Holding plc (LSE:888) B2B unit Dragonfish has signed a long-term agreement with Harrah's Interactive Entertainment Inc. a subsidiary of Harrah's Entertainment Inc. to provide online gaming services in the UK. Harrah's Entertainment owns casinos and hotels in Las Vegas, Atlantic City, and other cities across the US and in other countries.
Dragonfish will use its total gaming services approach to support the UK launch and roll-out of the World Series of Poker and Caesars Casino brands. It will provide its poker and casino software, ePayments, CRM, Customer Support and VIP services.
888 CEO Gigi Levy told "Globes", "This is a breakthrough deal for 888. Harrah examined several companies before choosing us, which indicates that our B2B strategy is working."
888's share jumped 14.3% in London on Friday to ₤0.975, giving a market cap of ₤337 million.
Since Congress closed the US market to online gambling three years ago, the companies have not stopped dreaming of reentering the market. Officially, the companies take care to operate only in other markets, but they all know where the big bucks were, are, and will be. The deal with Harrah is an attempt by 888, the world's largest online poker and casino operator controlled by brothers Avi and Aharon Shaked, to get back into the US.
Published by Globes [online], Israel business news - www.globes-online.com - on September 13, 2009
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