Portuguese market not viable, says PKR
Poker operator says "numbers just don't stack up" as it decides to withdraw from the re-regulating market
PKR has withdrawn its real-money offering from Portugal and will not apply for a licence in the re-regulating country due to concerns over its commercial viability, the online poker operator told eGaming Review.
Portugal’s new licensing and regulatory framework went live today, with a number of operators such as William Hill withdrawing from the market ahead of a licensing process planned for later this year.
However, a PKR spokesman this morning told eGR the operator had no plans to apply for a Portuguese licence as “the numbers just don’t stack up”.
“Losing another segment of our loyal customer base is always a great shame, but it will not have a significant effect on the business going forward,” the spokesman added.
Portugal’s new regulatory regime has faced criticism from industry, particularly over plans to tax sports betting operators up to 16% on turnover and gaming 30% on revenues, leading one gaming exec to predict a “very large” black market.
News of PKR’s Portuguese intentions comes less than a week after the operator confirmed it had withdrawn from the “unviable” French market, having also pulled out of Italy late last year.
It has been a turbulent few months for the poker operator, after the departure of COO Leon Walters and CEO Malcolm Graham in quick succession.
Earlier this month the operator revealed it had appointed former managing director of Sportingbet Europe and MyLotto24 Neil Alexander as its new CEO.