Online gambling company 888 Holding plc (LSE:888) has signed a partnership agreement with Entertasia Technology Company Ltd., a provider of gaming solutions for Asian operations, to develop a live casino service. 888 did not disclose how much it expects to make from this new partnership.
Under the terms of the agreement, a Philippines based operating company will manage operations for the live casino, while 888 will leverage its multi-channel marketing abilities to acquire new customers in the region. The companies will also provide an Asian-focused sports book product in partnership with E-Sky, a specialized Asian sports book. 888 plans to launch the new service in several Asian territories and languages during the first quarter of 2008.
Macau-based Entertasia was founded in 2005 with the goal of providing gaming software for both land-based and internet gaming operators. The company's website says, "We pride ourselves in our flagship feature, 'Live' gaming, which replicates the sensation of being in an actual casino with a bona fide dealer. We know what Asian players want."
It seems that Entertasia has persuaded 888 of its vision. 888 said that the partnership "will provide an opportunity to expand penetration of the 888 brand into the Asia Pacific region, one of the fastest growing markets for online gaming."
The agreement with Entertasia is 888's latest partnership signed within the past year. In February 2007, it signed an agreement with Rileys Ltd., the largest online poker, pool, and snooker club chain in the UK to provide online poker gaming. In September, 888 signed a similar deal with Tower Torneos, a leading Latin American poker gaming label. In November, Rank Group plc's (LSE:RNK) Blue Square website announced that would provide a sports betting for 888. In December, 888 partnered with Kamay Holdings Ltd. to expand 888's white-label gaming business.
Although these partnerships do not yet generate substantial revenue for 888, they greatly contribute to the momentum in the company's share price, which has risen almost 20% in the past three months to ₤1.44, giving a market cap of ₤491 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2008
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