Everest Poker Joins iPoker Network
Struggling Online Poker Operator Leaves Own Network To Join Playtech’s iPoker
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.
|1||Phil Ivey's 'Ivey Poker' Closes Virtual Doors|
|2||Man: Assaulted When Booted From Casino|
|3||Macau's Minimum Bet Dwarfs Vegas' Figure|
|4||Negreanu, McClelland To Be Inducted Into HoF|
|5||Poker Strategy: The Trouble With War|
|6||The Next Poker Boom May Happen In China|
|7||Icahn: Taj Mahal 'Will Almost Certainly Close'|
|8||A Poker Life: Joe Kuether|
|9||The Poker Lottery|
|10||Boston Globe: 'Pull Plug On Flawed Casino Law'|
|1||Judge: Poker Pro Phil Ivey Cheated At London Casino|
|2||WATCH: Man Cracks Opponent's Aces, Rubs It In|
|3||Phil Ivey's Rough Week Continues|
|4||Doug Polk Calls Out Daniel Negreanu|
|5||Iowa Police Steal $100K From Poker Players|
|6||Phil Ivey Gives Interview To 60 Minutes|
|7||Poker Pro Matt Smith Wins DraftKings Millionaire Maker|
|8||Phil Ivey's 'Ivey Poker' Closes Virtual Doors|
|9||Phelps Was Gambling Right Before DUI|
|10||Gambler On Tilt Makes Comment About Ebola|