International Gaming Technology (IGT), which owns the Entraction Poker Network (EPT), announced that, owing to poor liquidity, they will stop offering online poker services from December. Accordingly, the Sweden-based online poker network will cease functioning on December 10, 2012.
IGT had acquired Entraction Poker Network for $108.2 million in the spring of last year, but hadn’t had much luck with it. Ever since its acquisition of the network, traffic to the network began to thin, especially because it withdrew from markets such as Turkey, Spain, Israel, Canada, Norway, Russia, and Belgium.
Last year, the network generated $4.5 million in revenue and even got a license from the Nevada Gaming Commission, in spite of which IGT has decided to shut down Entraction Poker Network. An IGT spokesperson said, “Change and uncertainty in the European market conditions had diminished the expected returns in certain real money wagering products and that, as a result, the company has been forced to consolidate its product development.”
Entraction Poker Network’s online poker skins have already begun looking for other network. According to the latest rumors, popular Entraction skins such as 24hPoker.com, iGame.com, and Pokerihuone.com, all owned by iGame Malta, will join Microgaming soon. Alhough Sami Kurvinen, affiliate manager of iGame, refused to admit that the skins will be moving to Microgaming soon, he did confirm that the company was seeking to migrate to another network because it wants to offer its customers the best in terms of traffic and features.
Similarly, NOIQ Poker and Point Poker have already sent emails to their customers, informing them that they would be moving to another network soon. However, the smaller skins on the Entraction Poker Network are expected to vanish from the scene. Reportedly, several online poker rooms that run on multiple software platforms have already removed Entraction Poker Network and IGT from their portfolios of gaming service providers. Entraction Poker Network will be ending its last European Masters of Poker Tour this year after the last two events, one of which will be held in Barcelona soon and another in Dublin from November 16 to November 18.
Major online poker rooms on the Entraction Poker Network have already informed their customers that their poker accounts will not be altered in any way when they migrate to a new network. The funds of smaller skins are managed by IGT, a company that generated $2 billion in revenue last year by manufacturing gaming machines for land casinos.