Poker news source: CardPlayer Magazine - http://www.cardplayer.com
Paradise Poker's Days Are Numbered
Sportingbet to Close Paradise
The sun is about to set on Paradise Poker.
Sportingbet, the parent company of Paradise Poker, announced it will shut down its Paradise Poker platform and transfer all its players over to SportingbetPoker.
SportingbetPoker.com runs on the Boss Poker Network. Paradise Poker ran on its own network and it didn’t make much sense to company officials to run two separate networks.
Sportingbet will retain the Paradise Poker brand name.
Daily active real money players on both systems amount to approximately 6,500 each, however the greater liquidity on the Boss system, as it is a shared network with other Boss licensees, means yields per active player are approximately 60 percent higher as compared to Paradise Poker players.
The combination of the two poker businesses will provide some cost savings for Sportingbet, but the company warned that this may be offset by the loss of revenue that could occur as a result of migrating players from one platform to another.
"This deal combines all our poker players in one destination, maximizing liquidity whilst reducing the complexity of running two separate poker operations,” said Sportingbet Group Chief Executive Andrew McIver. “The addition of the Paradise Poker players to the Boss poker network will make the Boss network one of the largest in Europe."
Sportingbet bought Paradise Poker in October of 2004, which at the time carried about 10 percent of the world’s poker traffic. It was one |
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