IGT shuts down Online Poker Operation in Europe

One year after International Game Technology acquired Swedish-based Entraction Poker Network for $115m, the operation is scheduled to shut down due to regulatory changes. The company is advising online players to switch to an alternative network by Dec 11, 2012. The decision comes as some countries barred residents from playing with customers in other nations, but will not affect its operations in Nevada. In statement, Patti Hart, IGT CEO, said the poker shutdown was “purely focused on our European dotcom business and does not impact future decisions regarding entry into new markets.” “Change and uncertainty in European market conditions have diminished the expected returns in certain real money wagering products,” commented a IGT spokesperson, “As a result, we are consolidating our product development, We are maintaining our options for future changes in market opportunities.” IGT reconfirmed that it will continue to supply its industry-leading online gaming services to Europe, including slot machines, bingo and sports wagering. It said it will use the Entraction technology platform in conjunction with its Nevada online poker systems. The company acquired a Nevada internet poker license earlier this year. Skins that are currently operating on the Entraction Network are now looking at alterative networks. High on the agenda is the Microgaming Network due to low liquidity. Numerous poker rooms on Entraction have now e-mailed their customers informing them that they will be moving to a new network.