September 15 - This weekend saw the announcement by Harrah's Entertainment
that 888 Holdings will provide its online gambling division with software
and services as a means for Harrah's to enter the UK market.
And while nobody can deny that Harrah's could not have chosen a better
partner to conquer the UK, one also cannot ignore the fact that this deal could
also be 888's ticket to the United States - if and when online gambling is
finally legalized in the country.
Let us look at the facts. 888, which is a publicly listed company on the
London Stock Exchange, is extremely well established in the UK and European
markets. Its software is considered top of the range and is linked to some of
the best online casinos in the business.
Harrah's Entertainment is a true industry leader in the United States and
openly supports the legalization of online gambling in the country. The Harrah's
name is regularly found behind the backing of laws that seek to change the
current laws in the US.
There is no doubt then that this seems a match made in heaven, serving the
interests of both parties.
But some analysts say that 888 will need to show patience and resolve as its
turn to break into the US market will not happen for a long time yet.
While it is true that the Obama administration is much more liberal and
pro-change than its predecessors, the government has many pressing issues to
deal with such as healthcare and the economy. Online gambling will simply need
to wait its turn in a long line of issues waiting for Mr. Obama's attention.
However, it cannot be ignored that when change does finally come to the US
and the Unlawful Internet Gambling Enforcement Act is overturned, 888 will be at
the forefront as Harrah's official partner.
It remains to be seen whether this dream partnership will last that long for
888 to jump back into a market that it was forced to leave in 2006.
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