As online casinos, poker and sports betting boom in New Jersey so does 888 Holdings! In fact, the company’s plan to expand in the US is now in full motion. Recently, 888 went all out on a multi-million-dollar deal to fully acquire All American Poker Network (AAPN)! As a result, 888’s footprint just got wider in several states including New Jersey. So, let’s dive into all the details!
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According to reports last Tuesday, 888 put $10 Million down on a $28 Million deal to fully acquire the poker company, AAPN. Also, 888 agreed to pay the remaining $18 Million by March 31st, 2019. At which time, 888 will assume full control of the remaining 53% shares still held by AAPN.
As for 888, well they’re pretty ecstatic about the deal because it’s consistent with their growth plan. “This acquisition deal is an important and strategic milestone for our company. In fact, it’ll help facilitate 888’s further growth strategy in the US.” Said a company representative when the news went live.
So as you can see, 888 seems to be right on target with this deal. Besides acquiring a successful poker company and claiming its territory. 888 will also gain a lot more friends and partnerships because of this deal.
The Expansion Plan
In addition to this deal, 888 already has an online poker presence in Nevada, Delaware, and New Jersey. Also, 888 plans to launch in Pennsylvania in early 2019. What’s more, 888 and several of their partners operate together to run the only interstate poker network available in the US.
This allows 888 to connect players using Caesars WSOP, Delaware Lottery, and New Jersey’s AAPN, which 888 now owns. So as soon as PA opens up, 888 will use this deal to expand even further into American soil. And with all due respect, 888 has come a long way to be here and to be a part of this rapidly growing gaming market in the US.