888 CEO Expects Influential Numbers In U.S. Online Market By 2015
It is interesting times for the London based 888 Holdings who are gearing up to become a major player in the U.S. online gambling market which is slowly but surely opening up. In an interview with Reuters CEO Brian Mattingley said he they intended launching online poker in Nevada this summer and are bullish about expanding in the U.S. market from 2015.
This optimism that the U.S. will expand online gambling to additional states is supported by many industry experts. With the ailing economy there are few states that can turn down gaming revenues as they are seen as a source of a much needed cash injection. Mattingley was also bullish about the prospects of Online gambling in New Jersey been made available beyond just online poker. Currently in the state of Nevada poker is the only real form of gambling to be legalized online.
Mattingley confirmed that they are currently waiting for their software to be approved in Nevada and expect to launch online poker in the third quarter.In further good news for 888 they reported a 9% increase in revenues in Italy and Spain in the first three months of 2013 reaching $103 million. Italy recorded excellent growth due mainly to the lifting of the ban on online slot machines which are a firm online gamblers favorite. Mattingley believes this ban on online slots will also be removed in Spain as the government cannot afford to lose out on gambling revenues to illegal operators.
It is worth noting that ever since the U.S. online gambling market started moving towards legalization in mid 2012 the share price of 888 has doubled and the company is now worth over $915 million.Mattingley summed up their expectations for the coming years in the U.S. market,” I imagine we will start to see some really influential numbers to our business from 2015.”