888 Opens in New Jersey


09/05/2013
By Maria McCoyGoogle
As the state of New Jersey close down the restrictions on online gambling 888 are the first company to open up its services in the state.

The British listed business will be launching both casino games and online poker sometime this year. With its technology already in place worldwide the opening in what has been dubbed the second largest gambling state in the US should be smooth and virtually problem free. The licencing process and how the system will be taxed was thrashed out a while ago back when 888 were first accepted by the state’s gambling commission as a company that would be able to operate within the state’s borders once state government legislation was in place to allow the company to get wires burning.

Caesars Interactive Entertainment have also benefited from the presence of 888 coming into the state. Caesars is world famous and operates casinos in Atlantic City. It sees the value of not just having live offerings, but also having operations that allow punters to access and play at the casino online. This is a big move and a great partnership to have for both businesses involved. Caesars has long been a part of the US gambling market, and so over time have the right connections as well as knowledge to ensure that its operations have continued in the USA for many years. 888 can benefit from this knowledge and know how while Caesars benefits from 888’s technology, know-how and experience in the online market.

Brian Mattingly, who is the chief exec at 888, believes New Jersey is the most lucrative state of the 3 states that have been given the go ahead by the federal government to pilot and control the majority of the online gambling in the US.



Right now the estimates coming out of New Jersey’s ability to conjure up massive revenue from gambling are at around $450 million a year, but these figure seem maybe a little over exaggerated, but who knows? All in all New Jersey’s live gambling scene takes in roughly $3 billion a year, so an online gambling site to go with that and figures of $450 million right now are tough to compare. Financial analysts have predicted that overall the US online gambling market is expected to be worth roughly $20 billion in size by 2020, and so $450 million of that coming from New Jersey then starts to look a little smaller considering there are 51 states that will no doubt eventually be part of the system.

As for 888 as a company this is massive with further growth potential in the market leading up to those aforementioned estimated figures for 2020. The shares in the company are now going in the right direction and the business reported a 5% increase from $92 million to $97 million for the second quarter of trading this year.

For the rest of the worldwide members of 888 expansion can only be a good thing. More success means more no deposit bonus codes and free casino deposit bonuses.
Look out for deals from 888 as if the business gets more of a piece of the US we can expect the company to grow into what could be the largest online gambling entity in the world.
 
 

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