Genting Casino Online Poker is closing down on March 31st, the news has been announced to players with a FAQ post on its website, at the time of writing this piece none of the industry news sites are reporting the closure.
Here is an extract from the website:
”Why are you closing Genting Poker Online?
– Online poker is an extremely competitive market with tight margins and significant operating costs. In closing the online poker room, we will be able to focus exclusively on our online casino and sports products, in particular, our new Genting branded live online casino.”
The poker room has been operating on the ipoker network and for many players the closure has come as a shock. One player we spoke to today said ‘don’t understand it really, I thought they were a strong poker room especially with qualifiers online to the live Genting Poker Series.” The next live event is at the Westcliff casino on the 16th-20th March, the FAQ’s state that players will still be able to qualify to live events in live satellites across the Genting bricks and mortar casinos.
Many online poker rooms struggle with the high costs of operating on a network such as ipoker when they are constantly battling for a piece of the market share left after PokerStars has taken their chunk. It will be interesting a year from now to compare the effect on Genting revenues and player acquisitions that the closure will have. The poker industry pundits should have something to say in the coming days