The world’s second-largest online poker site partypoker is leaving Norway and Poland on Dec 17. Partypoker is also pulling out of other markets affecting customers in more than a dozen countries.
The move is in line with parent company GVC Holdings’ new vision as it rebrands to “Entain”. The company said it’s looking to limit its operations to jurisdictions where online gambling is legal. Moving forward, it will abandon gray markets and will put their focus on business sustainability.
Partypoker Out from Poland & Norway Dec 17
News of partypoker’s exit from Poland and Norway has been confirmed by users who received an email from the site, informing them of the departure. Since December 1, players were blocked from depositing into their accounts. They were also told that poker tables will be unavailable beginning December 17, though they can still log in to their accounts to withdraw whatever is left of their funds.
Players will also still be able to receive their cashbacks as they will be credited to their accounts by December 23, but unfortunately for players who have pending non-cash rewards such as loyalty points and tournament tickets, those will be forfeited upon partypoker’s exit from both markets.
All Revenue Must Come from Regulated Markets
Colette Stewart, partypoker’s community manager, said their latest move comes as a result of their parent company’s management business decision to avoid unregulated markets.
When GVC Holdings announced its rebranding plans, the company also said it would enhance its responsible gaming efforts by continuing to invest in technology. It also made clear that it wanted to derive 100% of its revenue from regulated markets by the end of 2023. Until that figure is achieved, the company will continue to terminate its operations in jurisdictions without any viable path to regulation.
Affected Players Will Miss Out on MILLIONS Online
Partypoker’s departure from Poland and Norway also means the affected players will no longer be able to take part in the upcoming MILLIONS Online, the latest edition of which is set to take place in February 2021. The operator recently announced that starting flights for the festival’s $5,300 buy-in Main Event will kick off on Valentine’s Day, February 14.
Players in those gray markets who had their eyes already set on MILLIONS Online will now have to look for tournament opportunities elsewhere, as they will be banned from participating in the popular festival.
Prior to the recent $5,300 WSOP Online Main Event, MILLIONS Online generated the two biggest prize pools in the history of online poker. The record figures were first achieved in 2018 with the festival awarding $21,835,000 in total prize money to players. The 2019 edition was also huge, as the winners took home a slice of the massive $21,090,000 prize pool.
GVC Holdings Targeting US
GVC Holdings may be avoiding certain markets, but it is also seeking to expand its operations in the US, where the decision to regulate online gambling is left to individual states. At the moment, online poker is only legally available in four states, namely, Nevada, Delaware, New Jersey, and more recently Pennsylvania, that’s despite the fact that the first online poker room launched in the country in 2013.
Unlike online poker, sports betting is rapidly spreading in the country. In an attempt to gain foothold in the US sports betting market, GVC launched Roar Digital, better known as BetMGM, in partnership with MGM Resorts. BetMGM handles GVC Holdings’ online poker and online casino portfolio, and is also operating MGM’s sportsbooks. The company is aiming to enhance BetMGM’s market share in the US which currently sits at 18%.
Partypoker has already obtained approval from the Pennsylvania Gaming Control Board to operate in the Keystone State. At the moment, PokerStars is enjoying an online poker monopoly in PA, but that is expected to end soon with two other operators, WSOP.com and 888poker also preparing to enter the state.