888 purchases remainder of All American Poker Network for 28m
Operator 888 has announced the acquisition of the remaining 53% of All American Poker Network (AAPN) for $28m.
The gaming company established AAPN as a joint venture with Avenue OLG Entertainment LLC in 2013; it has now acquired all of its partner's shares, as well as those of minority shareholders.
The deal will see 888 gain full control of how the company grows within the US, solely deciding future partnerships and when and where to expand AAPN.
Itai Frieberger, CEO of 888, said: "The acquisition of the remaining stake in AAPN is an important strategic step towards 888 achieving its exciting long-term potential in the US.
"Taking outright ownership of AAPN gives 888 additional operational, technological and commercial flexibility to develop innovative and exciting new partnerships and launch in new states – through both B2B and B2C channels – as and when future regulation allows."