888 Holdings takes over Aapn

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Lennart folder January 9, 2019

The well-known online casino 888 is growing. The 888 Holdings Plc. the All American Poker Network (AAPN) has completely taken over. The takeover costs the well-known English provider about $ 28 million and ensures that the casino can expand its presence in the USA. The company promises to open up new growth markets. Thanks to the new gaming regulations in the USA, this step could be successful.

888 Holdings enlarges his network and also wants to establish itself more in the USA.

Growth by taking over

The 888 Casino has already made a big name in Europe and is also one of the most famous providers in USA. Now the company is trying to advance its growth in the United States and has the rest for that 53 percent of All American Poker Network (AAPN) taken over. the purchase price is approximately $ 28 million. this is an important step for the company because 888 can achieve such a larger range of customers. in addition, the takeover enables the inclusion of new strategic partnerships. the aapn has been a joint venture between 888 holdings and avenue olg entertainment since 2013. with this collaboration, the holding company has already announced its brands 888 poker and 888 casino in new jersey. with 888 sport, the company also entered the market for sports betting in new jersey. the proximity to new jersey was also by the Sponsoring partnership with the NFL club New York Jets confirmed. This was the first partnership of an NFL team with a provider of online gambling.

Law change in sports betting triggering factor

Now 888 Holdings has taken this step to expand its growth to other states. Of course, the takeover of AAPN is also related to the new gaming regulations. Sports bets in the USA have been state since 2018 approved by the Supreme Court. With the takeover of AAPN, 888 positions itself and also hopes for a new regulations Boom of the online poker industry. that Increasing potential of the US market is very interesting for the gaming industry. This is how the CEO of 888 Holdings, Itai Friedberger: “The acquisition of the remaining shares in AAPN is an important strategic step to open up the long -term interesting potential of 888 in the USA. The complete takeover of AAPN gives 888 additional operative, technological and commercial flexibility to develop innovative and exciting new partnerships and to introduce new states- both via B2B and B2C channels- when and how the future regulation allows. With this acquisition, 888 is even better positioned to considerable growth opportunities to use in the USA and create additional value for our shareholders. ”

Good to know: the all american poker network combines all us-oriented poker sites of 888. it is not (yet) a all-encompassing network in the actual sense, but enables the merger of all poker sites that are operated by the software of 888. so far, the offers of ceasars and wsop.com in new jersey, delaware and nevada have been included. pennsylvania will also be added this year. further states will follow, but the legal foundations are still missing here.

Online poker in the USA only with slight growth

die Long-term prospects for online poker in the USA are fundamentally positive. optimism prevailed among players and companies after the online player pools of 888 were combined in the states mentioned above last year. the players were able to compete against each other across states and measure themselves against the pokeric. this initially attracted more attention and growth of sales. however, the environment did not develop into a cash cow. by entering pennsylvania with its almost 13 million inhabitants, the company expects one further sales boost, however, only when online poker will also be regulated by the state in early 2019. however, 888 holdings does not owe his success to chance. the company’s managers know what they are doing and would not have threaded the deal if there were no positive results. 888 holdings has already paid $ 10 million. the remaining 18 million will be due on march 31, 2019. until then, with new ones Decisions from Pennsylvania expected. Other states will also follow and set new regulations for online gambling. With the takeover of AAPN, 888 is already well positioned to benefit from a new poker boom in the USA.