Everest Poker Joins iPoker Network

One-time online poker behemoth Everest Poker has ditched its own standalone network to throw its lot in with Playtech’s iPoker network where it will join the likes of Paddy Power, Titan, and William Hill.

The company once sponsored the tables at the World Series of Poker and had revenues of over $100 million in 2008. One year later when it 60 percent of it was sold to Mangas Gaming for an initial payment of $100 million revenues had begun to decline steeply hitting $79 million for the full year.

The company then became embroiled in a legal wrangle with Harrahs over its WSOP sponsorship and as recently as 2011 was hosting a $1 million guaranteed tournament in Monaco.

By the fourth quarter of 2011 Everest Poker earned just $7.4 million.

Earlier this year Giga Media, which owned 40 percent of the company, wrote off its stake which was taken over by BetClic Media.

The iPoker network split in two in September and it is unknown whether Everest Poker will join the senior liquidity group or not.

The company did not respond to a request for information on the migration including which tier of liquidity it would operate within.

Post a Comment

Messages that harass, abuse or threaten other members; have obscene or otherwise objectionable content; have spam, commercial or advertising content or links may be removed and may result in the loss of your Card Player Account. Please do not post any private information unless you want it to be available publicly. Never assume that you are completely anonymous and cannot be identified by your posts.

 

Your Comment

 

 

Have an account? Please sign in.

User Name:

 

Password:

 

Remember Me

 

OR

 

Lost User Name or Password?
Need an account?

 

Most Viewed Articles