16+ CR GTD
Header banner - Calling Stn
Pokersaint - Lead
888 Holdings acquires AAPN Gaming

888 Holdings acquires AAPN

by Team Gutshot Posted on 16 Dec, 2018

888 Holdings, one of the world’s leading online gaming platforms and entertainers have just announced the signing of an agreement, which states the acquisition of remaining 53% interest in the All American Poker Network (AAPN) for $28 million.

The move comes as an important milestone in the growth trajectory of 888 which will help improve 888’s presence in the United States. The acquisition gives the group a wider bandwidth to deliver multiple growth opportunities, including developing new strategic partnerships.

The AAPN was a joint venture between Avenue OLG Entertainment and 888 since March 2013 which was used to launch 888’s Business-to-Consumer (B2C) brands in United States’ regulated online gaming market, and since November 2013, 888poker and 888casino brands have been doing business in New Jersey, but over the years, the company launched 888sport in New Jersey alongside its already established brands mentioned above. This move made it the first time 888 offered sports betting in the US.

888 also signed an important sponsorship agreement with New York Jets of the National Football League (NFL), making this the first agreement between an NFL team and a pure-play online gaming operator.

About the acquisition, Itai Frieberger, Chief Exectuvie of 888 commented, “The acquisition of the remaining stake in AAPN is an important strategic step towards 888 achieving its exciting long-term potential in the US. Taking outright ownership of AAPN gives 888 additional operational, technological and commercial flexibility to develop innovative and exciting new partnerships and launch in new states – through both B2B and B2C channels – as and when future regulation allows. This acquisition places 888 in an even better position to take advantage of the significant growth opportunities in the US and create additional value for our shareholders.

He also added a few words to their successful partnership, saying “The AAPN joint venture has been a very successful endeavour for the Group. It has afforded us the flexibility and financial capability to build a position in the regulated US market over the last five years whilst also investing in other global regulated markets. I would like to thank Avenue Capital for being fantastic partners in this venture since 2013.”

The agreed upon amount of $28 million will be all satisfied in cash, with $10 million being paid to the sellers on or about the date of this announcement and the remainder of $18 million to be paid by 31st March 2019. Keep reading GutshotMagazine.com for more gaming industry news and other general poker news from around the world, including tournaments and promotions.

Pokerstellar slim banner

Check out our online poker rooms section, where you can read reviews on the biggest and best poker rooms in the country, while also taking advantage of their bonuses and promotions. Check out these top poker rooms HERE.


Tagged : 

Comments

Your email address will not be published. Required fields are marked *

Dangal box

Top 10 Poker Rooms

  • Calling Station
    Calling Station

    Instant withdrawal; Use “RELOAD20” on deposits for 20% locked bonus
    Offer: "GUTSHT" Register

  • 9stacks
    9stacks

    Instant withdrawal; 100% locked bonus on first deposit
    Offer: "9GUTSHOT Register

  • PokerSaint
    PokerSaint

    60-seconds withdrawal; 100% locked bonus on first deposit
    Offer: "GUT100" Register

  • Poker Dangal
    Poker Dangal

    INR 500 Free on sign-up; (120 Locked, 330 Ticket, 50 Instant)
    Offer: 150% on first deposit up to INR 5,000 Register

  • Natural8
    Natural8

    Sign-up code "GUTSHOT"
    Offer: Up to $100 free tickets Register

  • Spartan Poker
    Spartan Poker

    Sign-up with "GUTSHOT"
    Offer: "GUT300X" to get 300% on your deposit Register

  • PokerStellar
    PokerStellar

    INR 500 Free on KYC verification; 280 Instant Bonus + 220 Ticket
    Offer: 150% Locked and 20% Instant Bonus on first deposit Register

  • GGpoker
    GGpoker

    Sign-up with code "GUTSHOT"
    Offer: Welcome Bonus - 100% upto $600 Register

  • FTR 2.0
    FTR 2.0

    Sign-up with "GSFTR"
    Offer: 100% Bonus on deposit with "WC2500" Register

  • Gotham City Poker
    Gotham City Poker

    $10 FREE on signing up!
    Offer: "GUTSHOT" Register

BSU box banner

Want to share your thoughts about poker?

Then click the button to submit your article.

Facebook + Follow

Instagram + Follow

Spartan Mission Cash

Spartan Mission Cash