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Recession Hits Online Poker Online poker is seeing some hard times now that the whole world in caught up in a global recession. Looks like the selfish acts of a priviledged few have now trickled down and affected the whole world. Because we are one of the largest economies in the world, our decreased expenditures have not circulated back around the world and have severely halted several things. Online poker, needless to say, is one of the first pastimes to get cut, since people are holding on to their money like white on rice. People are losing their homes, losing their jobs, and basically losing their minds trying to figure out how to make ends meet. That global tightening of the pursestrings is definitely reaching retailers all over the world, and is clearly affecting online poker sites everywhere. The major worry that many have is how they will ride out the storm. Jim Ryan, the CEO of Party Gaming, has released a statement saying that he forsees tough times ahead for all brands that will make the weaker, smaller companies either quit or consolidate. HE fully intends, however, to lead Party Poker through the storm and come out the other side unscathed. It will be a tough fight, in an industry many predicted would be immune to the effects of the economic downturn. In the beginning online poker was actually viewed as a much more viable and reasonable alternative to the cost of foreign travel to casino resorts like Las Vegas. Because people could play at home, they would save money and log on more often. Back to January 2009 Archive. |
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