eGaming Review Month End: 888 - happily unsettled

LISTENING TO 888 chief executive Gigi Levy take part in the online gaming industry leaders’ panel as the Gaming Executive Summit in Madrid last month was interesting for more than one reason.

Levy is an articulate observer of the industry and he usually has interesting things to say on a wide range of egaming topics.

But as all the panellists, which included industry luminaries such as Bwin’s Norbert Teufelberger and Party- Gaming’s Jim Ryan, debated the merits and likelihood of their firms ever being able to work in the US, Levy was conspicuous by his distinct lack of enthusiasm for any US regulation.

He stated that the US would only give licences to US companies should it ever regulate online gaming. In other words, what is the point of seeking a settlement with the DoJ if there is no chance of getting a US licence? And unlike Sportingbet, 888 has made no public statements about initiating the process with the US authorities.

When asked for an update on the situation and whether a US legal cloud was hovering over the company when it came to accessing debt, in particular vis-à-vis acquiring Cashcade, Levy said 888 would address the situation when it saw fit and if the opportunity arose.

This is in line with other 888 (non-)statements about the US. But does this mean 888 has no plans to settle? That it doesn’t want to admit any wrongdoing? Or is it moving on from the US and has drawn a line under it?

Or, and this is a key question, does it feel it could work in the US without a settlement?

But then if it can’t work in the US, all its US-licensed competitors will be able to use those revenues to fund their marketing sprees in Europe, outmuscling those unable to spend similar amounts on marketing due to a lack of US revenues, such as 888.

The stakes are high.

This article first appeared in the August issue of eGaming Review.