As the Nevada Gaming Commission was gearing up to hear arguments on online poker, 888 Poker considered the benefits of applying for a license. After the regulator approved the rules last Thursday, 888 was one of six companies to apply for a license.
The Nevada Gaming Commission probably won’t begin approving licenses until February 1. These companies may be able to launch online poker sites by the end of next year. This could be a big opportunity for 888 Poker, because it would be one of the first opportunities for an online poker companies to take advantage of the U.S. market since the Black Friday indictments.
888 is negotiating a partnership with Caesar’s Entertainment Corp. The UK based poker site said that it hopes to make a decision on the merger by October or November of next year. However, 888 does not need Caesars as an ally to launch an online poker site. Federal laws state that an overseas based company can apply for a license provided it meets any of the qualifications listed under federal law.
Although the license would only give them the right to operate within the borders of the state of Nevada, they would still be able to reach one of the most significant states in the online poker market. Also, holding a gaming license in Nevada could give 888 Poker a head start over other companies in reaching players in other states when they pass their own regulations. Over time, they could reach the entire $5 billion U.S. market.
What do you think an online poker license in Nevada would mean for 888 Poker? Share your thoughts in the forums.
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