Entraction Ends Boss Media-IPN Contract, Cardroom2 to Close

Yesterday, Sweden's Entraction Holding AB (formerly known as 24hPoker) said it has terminated its contract with Boss Media's International Poker Network (IPN), and will be closing down its Cardroom2 online poker room by the end of this year, reports Gaming Intelligence. Entraction will continue to operate its online poker site.

The company first introduced the dual network concept in March 2007. The Cardroom2 concept enabled customers of 24hPoker to choose between playing on the 24hPoker network or Boss Media's IPN through a single wallet, at a time when the 24hPoker network suffered from relatively low liquidity.

But now, traffic between the networks has fallen as a result of the success of the new Entraction poker network. Today, Cardroom2 represents just 5% of the company's poker revenues.

"Cardroom2 has been a good possibility for players to play in two different networks using one account," said Peter Astrom, CEO of Entraction. "But because of the strong growth in the Entraction poker network, there is no longer a need for Cardroom2."

Shares in Entraction Holding AB climbed to SEK55.00 on the announcement Monday before falling back to close at SEK53.50 in Stockholm, slightly below their 52-week high of SEK55.50.

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