Online Casino Transfer: News - 888 to Focus on Italy

08/16/2010		Online Casino Style: News 888 to Focus on Italy
Home History Games News Dictionary		More news this week from the online gambling giant, 888.com, which already released their final numbers for both their second quarter and first half of the year to a positive tune. The latest update comes in relation to the company’s interests to expand to newly liberalized markets in Europe, such as France, but primarily Italy. As the internet casino regulations there require partnerships with domestic companies, Gigi Levy confirmed to industry reps this week that they were in negotiations to find the right partner, with a number of good prospects lined up. A few agreements with Italian companies have already been made, such as the news earlier this week that 888.com would be providing services to Microgame SpA, but they haven’t been the only ones, as Bwin and Endemol have also hosted productive discussions. The targets have been well chosen, as the combined markets reached by Bwin and Microgame total more than 50 percent of the entire internet gambling industry in Italy, a demographic that will now be accessible to 888.com. Levy hinted that even more deals are currently in the works. Compared to the burgeoning relationship with Italy’s internet casino industry, its been slow going for the same sorts of efforts in France, which just liberalized the market to offshore online gambling companies this year. Heavy taxation on foreign operators, as well as the lack of permissions for bingo and casino action in the current laws have 888 backpedaling on their initiatives for France, leaving that market be for now, and focusing on expansions in other parts of the world. “When you look at France, that is probably a very bad combination for us,” said Levy, referring to the lack of licensing for internet casinos and taxation rates. “It is only sports and poker. In sports, our offering is not really relevant at this time. With poker, we have not yet entered the market; we want to see how it works out. The taxes are high so the ecosystem is under pressure, there is no casino; no bingo....” Meanwhile, 888.com still has an eye on the US market, which could still possibly open up by the end of the year. Their b2b deal with Harrah’s could well be advantageous if Congressman Barney Frank can get his HR 2267 passed, overturning the Unlawful Internet Gambling Enforcement Act of 2006.

08/16/2010

Online Casino Style: News
888 to Focus on Italy

More news this week from the online gambling giant, 888.com, which already released their final numbers for both their second quarter and first half of the year to a positive tune. The latest update comes in relation to the company’s interests to expand to newly liberalized markets in Europe, such as France, but primarily Italy. As the internet casino regulations there require partnerships with domestic companies, Gigi Levy confirmed to industry reps this week that they were in negotiations to find the right partner, with a number of good prospects lined up.

A few agreements with Italian companies have already been made, such as the news earlier this week that 888.com would be providing services to Microgame SpA, but they haven’t been the only ones, as Bwin and Endemol have also hosted productive discussions. The targets have been well chosen, as the combined markets reached by Bwin and Microgame total more than 50 percent of the entire internet gambling industry in Italy, a demographic that will now be accessible to 888.com. Levy hinted that even more deals are currently in the works.

Compared to the burgeoning relationship with Italy’s internet casino industry, its been slow going for the same sorts of efforts in France, which just liberalized the market to offshore online gambling companies this year. Heavy taxation on foreign operators, as well as the lack of permissions for bingo and casino action in the current laws have 888 backpedaling on their initiatives for France, leaving that market be for now, and focusing on expansions in other parts of the world.

“When you look at France, that is probably a very bad combination for us,” said Levy, referring to the lack of licensing for internet casinos and taxation rates. “It is only sports and poker. In sports, our offering is not really relevant at this time. With poker, we have not yet entered the market; we want to see how it works out. The taxes are high so the ecosystem is under pressure, there is no casino; no bingo....”

Meanwhile, 888.com still has an eye on the US market, which could still possibly open up by the end of the year. Their b2b deal with Harrah’s could well be advantageous if Congressman Barney Frank can get his HR 2267 passed, overturning the Unlawful Internet Gambling Enforcement Act of 2006.