Online Poker Deal Between 888 and Golden Gaming Receives Preliminary Approval
Nevada gaming regulators have given preliminary approval to an agreement between Las Vegas-based Golden Gaming and offshore online poker operator 888 Holdings. The marketing agreement between the two companies would allow Golden Gaming to customers sign up for online poker play through Treasure Island, which plans to launch a Nevada-only real-money online poker room operated by 888.
According to Golden Gaming attorney Michael Alsonso, the company will serve as a marketing vehicle to direct players to Treasure Island's online poker website. It will not have any role in the online poker operation itself. Golden Gaming owns 40 taverns in Las Vegas as well as three casinos in Pahrump, located 60 miles outside of Sin City.
“It’s unique and allows Golden Gaming to market 888’s platform to its customers,” Alonso told the Gaming Control Board, according to the Las Vegas Review-Journal.
If and when the deal is given final approval by the Nevada Gaming Commission (NGC) on Sept. 26, the gaming revenues will be shared between 888 Holdings, Treasure Island, and Golden Gaming. The revenue share will go into effect as soon as Treasure Island launches its online poker site.
888 and Treasure Island were approved for interactive gaming licenses by the NGC in March. 888, which owns and operates 888poker outside of the U.S., will provide the software for Treasure Island's online poker room when the site is up and running in Nevada.
888 will also provide an online poker platform for Caesars Interactive Entertainment and slot machine manufacturer WMS Industries in Nevada. 888 has nonexclusive business-to-business deals with each of the companies.