- 888 announced a new subsidiary and its plans to launch the All American Poker Network (AAPN).
- The new company is a joint venture with investment firm Avenue Capital Group.
- It will operate a business-to-consumer online gambling platform in the US, on either a state or federal level, regulation permitting.
European online gaming operator 888 announced Monday the incorporation of a new subsidiary, All American Poker Network (AAPN).
The Delaware corporation, formed in a joint venture with investment firm Avenue Capital Group, will operate a business-to-consumer online gambling platform in the US, on either a state or federal level, regulation permitting.
888 already has its fingers in a lot of American pies. A long-running partnership with Caesars will be extended to Nevada to launch a real money WSOP-themed online poker product. The partnership is already approved by the Nevada Gaming Commission.
It also has an agreement with WMS Gaming to provide real-money gaming “... immediately as either Federal or state based regulation is finalized.”
And reported in February, it has formed a partnership with Treasure Island to provide real money online poker in Nevada. Both received official recommendations for licenses earlier this month.
Treasure Island will be the first AAPN poker room, it was announced Monday. The site will use 888’s “award-winning poker and back office platform” once licenses are received.
The pair are expected to appear before the Nevada Gaming Commission to pick up their licenses on March 21.
Delaware is a popular choice for companies to incorporate because of its friendly corporate tax laws. It is also one of three US states to formerly legalize and regulate online poker.
Along with New Jersey, the trio are jostling to be the first to market and are each considering the potential of spreading liquidity across state borders—or even internationally.
888 will be looking to solidify a national poker network that can share liquidity when regulation permits.
888poker is the fifth-largest online poker network internationally, and one of the few to see traffic growth and record poker revenues in the last year thanks to recent investment in its platform.