New Attitude Towards Online Gaming In U.S. To Thank For 888's Recent Revenue Boost

In 2013, several states have taken immense strides forward in the ongoing process of fully legalizing online gambling. As more and more states ease up on their Internet gaming restrictions, profits are starting to roll in—and some of those profits are coming from surprising places. Case in point: recent reports confirm that the London-listed 888 Holdings anticipates that it will soon start to see some significant financial benefits from the various U.S. states that have eased their Internet gaming laws and statutes.

On closer inspection, perhaps this London-based company’s windfall is not so surprising after all: 888 runs a number of online gambling sites and Internet poker rooms, and is already operating in the state of Nevada, which has fully legalized online gambling. Two other states—Delaware and New Jersey—have legal Internet gambling assets scheduled to go live before the end of this year, and 888 will be in on the action.

888 has been active in the U.S. for some time, but was dealt a huge blow in 2006 when Congress effectively banned online betting. While many companies like 888 were understandably hurt by this, the winds of change have begun to blow—and now these online gaming investors are sensing some revenues coming their way. Indeed, more and more U.S. states are hungry to bring in revenues of their own, and legalized online gambling is a natural way to do so; this has created a whole new series of opportunities for European companies, like 888, that have ample experience in the online gaming industry.

The report quotes Brian Mattingley, the Chief Executive for 888, as saying that his company expects to start seeing revenues come in as early as 2014. This includes not only revenues from Nevada, New Jersey, and Delaware, but also U.S. states that are poised to legalize online gambling on their own terms.

Mattingley is especially optimistic that New York, California, and other larger states will soon ease up on their Internet gaming bans. California is an especially hoped-for prize, he says, though he also acknowledges that gambling regulation is a notoriously convoluted field.

In truth, 888 is already seeing some benefits to the new, laxer U.S. gambling laws. In a trading statement, the company reports to seeing its revenues rising by two percent to $84 million total in the third quarter, very much in line with its own expectations.

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