888 Holdings hopes to re-enter US market this year amid 'remarkable turnaround' However, Mr Mattingley said 888 is also "very, very close" to signing a business to consumer deal with a "significant" US casino brand. Analysts have suggested Wynn Resorts and the Sands group as possible targets. Mr Mattingley reported annual pre-tax profit at the group dropped to $5.85m (£3.7m) last year from $10.6m in 2010 following a heavy $20.7m write-off of Mytopia, the social games development business bought in 2010, which failed to meet expectations. But analysts pointed to earnings before interest, taxes, depreciation and amortization - which grew 94pc to $55.6m - as proof that the company had delivered a "remarkable turnaround." Revenue was up 26pc last year to $331.1m. Simon Davies, analyst with Canaccord Genuity, said: "One year ago, 888 was facing crisis point. Brian Mattingley ... has overseen the hugely successful re-launch of Poker 6, a pick up in new active customers and launch into Italy. Analysts have warned that Nevada, which has a population of about 3 million, is unlikely to be a game-changer for 888 but California and New Jersey could provide significant opportunities if they follow suit. There are also hopes online poker and casino could be approved at a Federal level, which Mr Mattingley said, "would see our business completely transformed." If the market is opened up on a slower state by state basis, he warned: "Realistically it's going to be long, arduous and costly." 888 is relying on growth in the US and other markets such as Italy and Spain to reduce its dependency on the UK market, which currently accounts for about 46pc of revenues. A 15pc online gaming tax in the UK, if it were introduced tomorrow, would cost 888 $15m, Mr Mattingley said. But he believes the two-year timescale will allow management to "exploit ways of mitigating that tax burden." 888 shares rose 5pc in early trading.