Euro Poker News: 24hPoker Undertakes Restructuring

24hPoker today announced the separation of its operations into two distinct entities: a business-to-business company, 24hPoker Holding AB, and a new business-to-consumer company, 24hPoker.com.

The company also signed a letter of intent with Martinspoker.com relating to the incorporation of Martinspoker.com, Staffpoker.com, and Danepoker.com into the new business-to-consumer company, which will operate these brands.

The gaming operations will be run by a subsidiary in Malta. 24hPoker Holding AB will be the majority shareholder in the company, but will not be operative.

Peter Åström, CEO of 24hPoker Holding AB, said, "This separation of business activities enables 24hPoker Holding AB to focus on strengthening its position as a business-to-business gaming supplier, which makes the offer clearer for both customers and the financial market. Simultaneously, 24hPoker.com's potential can be fully developed, which will show in the results going forward."

Claus Nielsen, CEO of Martinspoker.com, said, "With these brands targeting different segments of the market, we will become a leading player in Scandinavia and have a stable platform for expansion to new markets in Europe and the rest of the world. At the same time, we achieve synergies as the merged organization becomes more efficient and focused."

24hPoker Holding AB is a Swedish gaming group that develops proprietary software systems for online gaming operations through its subsidiaries 24hPoker AB and B2B Poker AB and operates one of the world's largest poker networks, 24hNetwork.

24hPoker launched online poker in 2001 and conducts gaming operations via foreign subsidiaries. The Group also sells and develops turnkey gaming platforms for players who want to conduct gaming operations under their own brand via 24hNetwork.

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