MyBet Poker Closing at End of June

Posted by Kathleen Girvan on Jul 04, 2016 Posted in Online Poker News | No Comments »

 

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Popular online poker site Mybet Poker has announced that it is shutting down operations to focus on its casino and sports wagering outlets. The poker room officially closed last week on the 30th of June after releasing a statement on its website.

MyBet customers will automatically have their account balances moved to the main wallet as the casino and sportsbook now that the poker site has closed. It has been clear for a while that the MyBet Sportsbook and Casino have been vastly outperforming their poker counterpart. And player points gained from the poker site will be converted by MyBet into cash for players until the 15th of July.

The company recently stated that, “It’s been a good time we had at MyBet Poker, but even good things sometimes come to an end”. The Public Relations Manager, Sebastian Bucher, blamed a lack of revenue being generated from MyBet poker as the key explanation for their final decision to close down the poker room effective immediately.

“The group generated revenues of over 1 million euro in the financial year 2015 from Poker, compared to annual total revenues of 63 million,” the press release stated. “Since 2014, the company is conducting a fundamental strategic reorientation.”

The MyBet company will be intending to focus more on its core casino and sports wagering sites it controls, while also announcing plans to roll out a new software platform this summer. Bucher continued, saying that “the key focus is the sports betting and casino games as well as the implementation of a new high-performance IT platform for the whole product range,” explained Bucher. “The introduction of the new platform is planned to take place between the middle of July and the beginning of August.”

The Chief Executive Officer of MyBet made a similar statement about the decision to close the online poker room: “the poker business contributed with only a minor share to our revenue and delivered virtually no contribution to the operating result of the group,” noted Osskó. “In addition, we do not see a sufficient growth potential in this area to support the operational turnaround in the short term. From our point of view, continuing our Poker offering was not expedient, especially in the light of the upcoming introduction of the new mybet platform.”

MyBet Poker is acknowledged as one of the smaller poker skins on the iPoker Network, which is regarded as the fifth most trafficked online poker room with 1,000 ring-game players on a seven-day rolling average. Players on other iPoker skins have been assured that they will not notice any tangible difference after the MyBet Poker closure, as the online poker room contributed very little to the overall network’s liquidity.



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