International Game Technology Withdraws Online Poker from Europe
The world’s biggest manufacturer of slot gaming machines, International Game Technology, has stopped providing online poker services in Europe.
IGT has stopped because of a change in the regulatory system; a few countries in Europe have made it illegal for its citizens to play online poker against players in different countries.
Chief Executive Officer for IGT, Patti Hart, said that the changes made the business less profitable and the product less interesting.
IGT is still offering online slot games, bingo and sports betting in Europe and according to Hart it is also evaluating its entire European staff.
Since withdrawing poker services from Europe IGT shares dropped 1.2% to $12.86 and its stock fell by 25%.
At present there is no sign of federal legislation for online poker in the US.
There are signs that state wide legalisation will be appearing, however, experts think that this is not feasible in the long run.
Last year Nevada became the first state to create a regulatory framework for online gambling.
So far 24 companies have applied for licenses to operate online poker in Nevada. Any company which is granted a license will be allowed to offer real money poker online anywhere within the state boundaries.