A groundbreaking marketing agreement between Caesars Entertainment and an overseas Internet gambling company has been given a stamp of approval by Nevada regulators.

Caesars won approval for a business relationship with 888 Holdings PLC, an Internet company based out of Israel that offers a number of online gambling options in Europe. The move could result in a major coup for Caesars if Internet gambling is ever legalized in the United States.

Caesars will deal with 888 Holdings PLC's subsidiaries, which will provide infrastructure designed to allow Caesars to offer online gambling when the time comes. The deal also allows Caesars to extend its signature brand, the World Series of Poker, to online players around the world.

Seth Palansky, Caesars Interactive Entertainment spokesman, said the arrangement will initially allow Caesars to "learn about the business (of Internet gaming) and make some money along the way."

He also said that Caesars is prepared to wait as long as it takes for online gambling to be approved in the U.S., while acknowledging that it could be several years before legalization takes place.

"We're in it for the long term," he said.