IGT to shut Entraction Poker Network

IGT to shut Entraction Poker Network
9/17/2012

After purchasing online gambling software developer Entraction Holding AB in June of 2011 for just over $114 million, American computerised gaming equipment designer and manufacturer International Game Technology (IGT) has announced that it will be closing the enterprise.

IGT has recently lessened the presence of its Entraction Poker Network in uncertain markets including Israel, Russia and Canada and revealed that this most recent decision is down to a reduction in revenues from its real-money gambling services.

“As part of our regular business process, we have been evaluating our resources, products and markets from a commercial and compliance perspective,” read a statement from Las Vegas-based IGT.

“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, 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 .com business and does not impact future decisions regarding entry into new markets as regulation, taxation and commercial opportunities arise.”

As part of the closure, the Stockholm headquarters for the Entraction Poker Network have already shut with online poker providers being advised to switch to another network before December 11.

IGT recently became one of the first operators to receive an interactive gaming licence from the Nevada Gaming Commission while it signed an inaugural Las Vegas deal earlier this month that will see its Double Down Casino social application hosted on the website for the Hard Rock Hotel and Casino Las Vegas.