- Videoslots will be acquiring PKR’s 3D poker software to create their own online poker room
- While exact details of company’s plans still to be revealed, it seems we’re about to see another poker operator join the market
The name of Videoslots is probably familiar to all online casino fans out there.
This site has established its market position by constantly expanding their library of games by adding new slot titles, looking to become the absolute leader in this department.
And now it is looking to expand further, reportedly in the process of acquiring technology that drove PKR, the only truly 3D online poker room that shut down earlier this year.
Expanding to other markets
Although exact details of the acquisitions as well as company’s intentions with PKR aren’t clearly defined just yet, Videoslos will clearly be looking to join the online poker market.
By doing this, they’d be able to potentially corner another segment of the industry and get access to a whole new audience.
According to CEO of Videoslots Alexander Stevendahl, this purchase will enable them to offer their players a proven poker product.
Initially, the software will be offered for computer downloads, but the company plans to follow up with mobile and web-based versions soon after.
Demise of PKR
For those not familiar with the whole story, PKR went into the administration back in May of 2017 after struggling to stay profitable in the highly competitive market.
The room went through several phases in the run-up to the shutdown, the final of which saw them joining forces with Microgaming Poker Network (MPN). The move was intended to improve the player liquidity and help PKR stay afloat.
Despite of this merger and the fact PKR finally released a 2D client as well, to try and cater to a wider player pool, all the efforts weren’t enough to create a sustainable business environment.
The company had to file for bankruptcy and shut down its operations.
Jez San, the founder of PKR, spoke of his sadness at the loss in an interview with Casinopedia.
PokerStars, the leading online poker provider, stepped in to a degree, buying up the player base and making available all outstanding balances to former PKR players, ensuring they wouldn’t have to wait for the entire bankruptcy process to be completed.
However, the parent company Stars Group wasn’t interested in PKR software and they were clear they had no intentions of re-launching the room.
Videoslots saw an opportunity where Stars Group clearly didn’t and they’ll be bringing back the unique PKR software, probably under their own brand.
But will Videoslots be able to make a go of a sector widely considered to be saturated, and succeed where PKR failed?
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