Online Poker fans in the US will be pleased to know that PartyPoker and similar brands could be back in the country in the upcoming months. This follows a decision by the Nevada Gaming Commission (NGC) to provisionally approve an interactive gaming licence for GVC Holdings.
While the licence is conditional and must be applied for in fully in the next 24 months, it does mean that the iGaming giant has been given the go-ahead to provide online Poker content in the country once again.
Opening the Door for US Online Poker
PartyPoker was one of the more prosperous US online poker sites before the UIGEA came into force in 2006. The Unlawful Internet Gambling Enforcement Act forced the company to pull out of the US market and focus their attention elsewhere. The brand then changed ownership a number of times, and has now come under the management of GVC holdings.
If their name sounds familiar it is because they own and operate some of the biggest retail and online gambling brands in the industry. This includes brands like bwin, Coral, EuroBet, SportingBet, PartyPoker, Ladbrokes and others. According to the terms of the conditional licence approval, GVC Holdings has been given permission for their bwin.party brand to provide continuous or delayed public offering for online gaming. Essentially, they will be the first of their brands to open its virtual doors to the US public.
A Positive Move Forward
The licencing agreement also stated that Ladbrokes Coral was awarded conditional approval as an intermediary company. All of this means that players will be able to enjoy the benefits of online Poker within the state of Nevada through various online mediums. GVC Holdings has a 2-year window on their conditional licence and must apply for a full-scale interactive gaming licence within this period.
While the company has experienced a few setbacks in the last few years, 2019 has come as a turning point. In April this year, GVC Holdings posted an 8% growth on their total gaming revenue for the year. These figures were obviously impressive for a company that was yet to break into the newly opened US market. The company attributed their increased growth to higher revenues from online gambling and sports betting entities. The revenues managed to mitigate the lower revenues seen by their retail markets.