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Microgaming to liquidate online poker skins
The biggest online gambling software designer, Microgaming, has hit some rough financial times and will be liquidating their poker skins.
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Recently the state of Kentucky seized more than 140 gambling domains associated with the company, but an appeal by iMEGA (Interactive Media Entertainment & Gaming Association) had the action overturned. At this point, two of Microgamings licensees have dissolved.
BetonBet Poker and Eurolinx Poker, two of the many sites that use Microgaming software for their online poker client, have dissolved, which means that 30 other Microgaming online poker skins are gone also. This troubling news came as quite a shock to the worldwide online poker community since there had been no word that the company had been in such trouble.
Dan Stewart of PokerScout.com stressed that the financial impact for Microgaming is unknown. He stated that “the Microgaming Network still has a healthy amount of traffic and we don’t know how much business the individual licensees are doing.”
Cryptologic, one of Microgaming’s biggest rivals, recently underwent dramatic restructuring and cost cutting to become profitable in the tough economy. It might be wise for Microgaming to follow suit. The online poker industry as a hole has seen a decline in revenue during the global recession. As people become more uncertain about the economy, they take less risks with their money, so understandably fewer people are in the mood for gambling and those that are don’t spend as much. As the United States, Canada and other countries consider legalizing online gambling, however, the online poker industry could soon see a boost. It couldn’t come at a better time.
News Added: 25 August, 2009
Number of views : 816
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Disclaimer:
People from thousands of jurisdictions access the internet. It is impossible for us to stay current with the laws of every jurisdiction. Please make sure that any activities you engage in online are legal where you live.
We have reason to believe that it may be illegal to gamble online in: Illinois, Indiana, Louisiana, Nevada, Oregon, South Dakota, Washington, Michigan, New York, New Jersey and Wisconsin. If you live in one of these states, we advise you NOT to gamble online. |
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