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The IGT Poker Network has shut down its European online poker network for good. The company still plans to offer Internet casino products such as bingo and slots as well as sports wagering.
“Change and uncertainty in European market conditions have diminished the expected returns in certain real money wagering products,” according to the company statement. “As a result, we are consolidating our product development.”
The company had announced its pending closure back in September, leaving a number of poker rooms in a mad rush to find new homes on other networks.
Parent company, Entraction Holdings AB, was sold to a US gambling firm, International Game Technology, back in May of 2011 for just over $100 million. Since the acquisition, IGT had failed to capitalize on growing European markets while being shut out of others.
IGT does hold an online poker license in the state of Nevada, positioning it to act as a “technology partner” with other operators looking to enter the lucrative US market.
- Aaron Goldstein, Gambling911.com
