23rd of March 2013 Author: Glo Wood
888 Holdings, based out of the UK, has become the first to be granted a license to operate in the U.S. as an 'Interactive Gaming Service Provider'.
The online gaming company plans to introduce its brand of online poker in the US as 'All American Poker Network' (AAPN), in partnership with Avenue Capital Group. The Avenue Capital Group is the financial backbone as it includes AAPN in its hedge fund offering for both American and foreign capital market investors.
States such as Delaware and New Jersey consider various forms of online gambling legal; however Nevada sees poker as the only acceptable online game to be played for cash. 888 Holdings has also started the process to obtain gaming licenses in Delaware and New Jersey.
States that currently have pending online gambling legislation are sitting back waiting for the AAPN website to go live in Nevada. It's only natural that the country would look to its gambling mecca for a means in which to follow in this new online gambling industry. Chances are all kinks will have worked themselves out before other states get onboard.
There will also be plenty of focus on AAPN to observe their ability to run under Nevada's regulatory scheme. Prying eyes will also be likely to wait and see whether there is as much profit in real money online gaming as there is believed to be. Once the advantages are proven, more and more states will comes around in the US.
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