888 signs gaming deal with Harrah's Interactive Entertainment

One of the world's leading online gaming corporations, 888, announced its new agreement with US casino operator, Harrah's Interactive Entertainment. Harrah's Entertainment is responsible for a host of casinos and hotels throughout Las Vegas, Atlantic City in addition to other resorts throughout the US and around the world. The new deal will see 888's Dragonfish subsidiary support the British release and roll-out of the World Series of Poker together with Caesars Casino brands. Dragonfish will be supplying Harrah's with the necessary software to operate a range of online casino and poker facilities.

The announcement has been welcomed as an important step by experts in the industry. 888 shares were reportedly up by 10.2% by noon of the day of announcement. The sharp increase follows a tough year for 888 whose shares had lost 25% of their value in a difficult few months.

Chief executive of 888, Gigi Levy, said that the announcement represents an important opportunity if the U.S market continues to open up to online gaming. Following calls to review prohibitive legislation throughout the US, Levy said "It's going to be the big U.S players that take advantage of the situation." He noted that "it's a good deal even if it's Europe only" but that "we have more big American deals in the pipeline for the B2B unit". With so many interests at stake, all members of the gaming industry will be watching anxiously to see how US gaming legislation develops in the forthcoming months. Many experts are now regarding the agreement as a significant coup for 888, paving the way for some potentially lucrative dealings with an ever more accessible US market.