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Details on IGT Poker Pullout

Wednesday September 19,2012 : MORE DETAIL ON IGT PULL-OUT FROM EUROPEAN ONLINE POKER (Update)
 
Business “shifted from dot-com to dot-country,” says chief exec
 
International Game Technology chief executive Patti Hart expanded on her company's withdrawal from the European online poker market in an interview with the Bloomberg business news agency Tuesday.
 
Hart explained that the business shifted from dot-com to dot-country, commenting: “There’s less profitability and the product becomes less interesting.”
 
The IGT decision came after the company spent $115 million last year on acquiring Entraction Holding AB , and is attributed to national regulatory changes in Europe that effectively killed the business model.
 
Various countries barred their residents from playing with customers in other nations, Hart said.
 
She opined that Europe provides a lesson for the United States, where the legalisation of online poker is developing on a state-by-state basis rather than at the federal level.
 
Companies planning to offer online poker in the U.S. will “have to look at their own economics,” she said. “It’s much more challenged when it’s a single state.”
 
IGT stock has declined 25 percent this year.
 
Bloomberg reports that online gambling generated Euros 24.6 billion ($32.1 billion) in revenue worldwide last year, with Japan, the U.K. and Germany the largest contributors, according to researcher H2 Gambling Capital.



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MPN Poker Tour Bratislava Day 1B - Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today

MPN Poker Tour Bratislava Day 1A - The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.

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