IGT To Close Entraction Poker NetworkNevada-Based Company To Shut Down Software It Bought Last Year |
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International Game Technology is to shut down the Entraction poker network which it bought for around $115 million last year.
The company, which has been retreating from ‘gray area’ markets such as Canada, Israel, and Russia, has seen liquidity at Entraction plummet and as a result it has made a business decision to shut the network down, a move that is widely expected in December.
An IGT spokesperson said, “As part of our regular business process, we have been evaluating our resources, products and markets from a commercial and compliance perspective. As a result, we are consolidating our product development, allowing us to combine a number of locations and focus on the most attractive opportunities.
“We remain focused on our interactive casino/slot offering, which has experienced steady growth; as well as our successful social gaming offering with DoubleDown Casino and look to integrate the Entraction products into our overall set of platform offerings.
“Change and uncertainty in European market conditions have diminished the expected returns in certain real money wagering products. As a result, we are consolidating our product development. We are maintaining our options for future changes in market opportunities – This decision is purely focused on our European dotcom business and does not impact future decisions regarding entry into new markets as regulation, taxation and commercial opportunities arise.”
Entraction runs the European Masters of Poker tour which is currently playing out in Barcelona, Spain. The future of EMOP is currently under review.
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