Online gaming company 888 wins Nevada licence

FTSE 250 company 888 has been granted licence to operate its online betting products in the US state of Nevada.

FTSE 250 company 888 has been granted licence to operate its online betting products in the US state of Nevada.

The online gambling provider was given the green light as an interactive gaming service provider by the Nevada Gaming Commission in Las Vegas on Thursday.

"This is an historic moment for 888," said Chief Executive Officer Brian Mattingley.

"This is the first time a company uniquely providing online gaming has been licensed by any US jurisdiction."

The approval was expected after the state gaming control board voted to recommend the grant earlier this month to the company, which operates casino, poker and bingo games.

888 has already signed a deal with Las Vegas operator Treasure Island to launch online poker in Nevada.

Internet betting in the US was explicitly barred by Congress in 2006, but the restrictions are set to loosen with federal legislation to be introduced in the spring.

RD

Recommended

Share tips of the week – 21 January
Share tips

Share tips of the week – 21 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Jan 2022
Seven cheap defence stocks to buy now
Share tips

Seven cheap defence stocks to buy now

We’ve got used to a world without war between major powers, but that era is coming to an end as Russia threatens Ukraine and China eyes Taiwan. Buy de…
21 Jan 2022
Invest in VCTs: tax-free investments set to break records
Investment strategy

Invest in VCTs: tax-free investments set to break records

Generous tax breaks make VCTs – venture capital funds – an attractive supplement to pensions.
21 Jan 2022
HubSpot: a tech stock set to tumble
Trading

HubSpot: a tech stock set to tumble

US tech stocks have had a fantastic couple of years. But this year is unlikely to be so bullish for high-fliers that can’t turn big profits.
18 Jan 2022

Most Popular

Ask for a pay rise – everyone else is
Inflation

Ask for a pay rise – everyone else is

As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why yo…
17 Jan 2022
Temple Bar’s Ian Lance and Nick Purves: the essence of value investing
Investment strategy

Temple Bar’s Ian Lance and Nick Purves: the essence of value investing

Ian Lance and Nick Purves of the Temple Bar investment trust explain the essence of “value investing” – buying something for less than its intrinsic v…
14 Jan 2022
Interest rates might rise faster than expected – what does that mean for your money?
Global Economy

Interest rates might rise faster than expected – what does that mean for your money?

The idea that the US Federal Reserve could raise interest rates much earlier than anticipated has upset the markets. John Stepek explains why, and wha…
6 Jan 2022