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IGT Scales Back On Online Poker
Thursday September 13, 2012 : IGT PULLS BACK ON INTERNET POKER
Casino supplier appears to be putting its $108.2 million purchase Entraction on the back burner
Online poker operators on the IGT Poker (formerly Entraction) network have been advised that International Gaming Technologies management has decided to radically scale back on internet poker operations due to weak business returns.
In addition, reports from Sweden indicate that the company has closed its offices in Stockholm, terminating the contracts of employees, and there is speculation that the network will be shuttered by year-end.
A confusing picture emerged this week as some operators said they had been given their marching orders effective December this year, whilst others confirmed they had not.
The company has thus far made no public statement on the future of Entraction, which it purchased barely a year ago for $108.2 million.
Operators on the network include BetVictor, Kick Off Poker, Devilfish Poker, 24h Poker, Redbet, Betsson and No IQ.
The news comes amid high hopes that IGT would be among the first to enter the Nevada regulated online poker market, where it has already been successful in acquiring licensing, but apparently Entraction will have no role in this intrastate initiative.
Since changing ownership Entraction has not done well, losing much of its traffic and now characterised as one of the weak performers, according to weekly stats from the independent online poker monitor Pokerscout.
There appears to have been minimal development by IGT, which has exacerbated the situation by imposing geographically-based restrictions on Entraction's action as it pursues a corporate ‘regulated markets’ business strategy.
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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