Home Online poker Online poker loses old name as PKR enters administration

Online poker loses old name as PKR enters administration

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After weeks of speculation, online poker operator PKR has confirmed that it entered administration after no longer being able to fund its day-to-day operations.

PKR, one of the oldest online poker rooms, has posted the following corporate statement on its website:

“Following previous announcements, PKR limited and PKR Technologies Ltd have filed applications with the court for administrative orders, which will be heard in the week of May 8, 2017. Further information will be posted on this website after the hearings. “

Prior to his statement, PKR platform partner Microgaming informed the market that it had cut operator services at the request of PKR management, who were seeking “independent professional advice” regarding their difficulties. financial.

This week, Microgaming released another statement detailing that PKR management “has repeatedly assured us that player funds are held in a separate client account”, acting in accordance with UK and Alderney licensing obligations. .

Launched in 2016 by video game developer Jez San (founder), PKR aimed to bring a 3D dimension to the static online poker market. At the time, the standalone 3D poker room received industry awards and recognition for bringing innovation to the market and diversifying its poker product.

Nonetheless, PKR’s growth was strongly impacted by the slowdown in online poker as the operator struggled to create consistent liquidity for players within its poker room.

Following a management restructuring in 2015, which saw Chris Welch appointed CEO, PKR would merge its stand-alone poker platform with the provisions of the Microgaming network.

Taking the lead of PKR, Welch had indicated that the company would look to diversify its product line by adding a casino and a potential sports betting product, because as a single vertical operator, PKR no longer appealed to modern consumers.

However, PKR’s recovery plans appear to have been immediately hit by financial constraints.

Totally Gaming Says: Sad news about PKR, a gaming operator who has created a revolutionary industrial product (beyond the igaming sector) and developed an effective 3D community. Perhaps an operator or competitor can look to buy the technology and differentiate their poker offering.


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