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UK-based internet gaming company has eyes on Atlantic City

Discussion in 'North American Land Based Casinos' started by BingoT, Aug 20, 2013.

    Aug 20, 2013
  1. BingoT

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    UK-based internet gaming company has eyes on Atlantic City

    An internet gaming company based in the United Kingdom has announced plans to build or acquire a hotel/casino in Atlantic City, to allow it to enter the internet gaming business in the United States.

    2UP Gaming PLC, which operates the online gaming website 2UP.com, says it has received a letter of intent from an Asian investment group valued at $330 million, subject to the completion of an agreement, which is scheduled to be finalized by Sept. 9.

    The letter will “facilitate 2UP’s planned entry into the United States internet gaming market by providing the means to build or acquire a hotel/casino in Atlantic City, New Jersey, which is a requirement under recently passed New Jersey state law permitting internet gaming in the United States under certain conditions.”

    All 12 Atlantic City casinos have moved to secure internet gaming permits, according to the news agency Reuters, ahead of the start of online poker and other gaming this fall.

    “2UP has been working diligently for the past 12 months assembling the finest technology and strategy necessary to be a global leader in the i-gaming marketplace,” said 2UP’s CEO Marino Sussich. “Emerging global gaming markets have created enormous growth opportunity for our company, and the United States launch of 2UP’s online gaming products will significantly add to our growth.”

    New York based MidOil USA, which previously announced a $75 million financing commitment for 2UP, will oversee the 2UP United States market expansion, said Vincent Crandon, managing director of MidOil USA.

    “We have assembled an amazing team of local New Jersey professionals who are looking forward to helping revitalize Atlantic City by creating new jobs and opportunity,” Crandon said.

    2UP Gaming Plc. is a UK-based, publicly held provider of leisure and entertainment products in the gaming, wagering and lottery segments of the gambling industry.

    Through 2UP.com customers can access gaming, wagering and lottery products from one website. Casino games such as poker, blackjack, baccarat, and roulette are streamed directly to players.
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