BetClic to close Everest Poker

French online gambling operator Betclic Everest Group (Betclic) is set to close its online poker room Everest Poker according to reports.

Under the management of Mangas Gaming Group, Betclic had acquired the stand-alone poker room for $100 million from former Everest Poker owners Giga Media in 2009.

At the time of its acquisition, Betclic governance wanted to enter the fast growth online poker market by creating a challenger brand to market leaders PokerStars and Full Tilt.

Having acquired Everest Poker, Mangas Gaming spent millions marketing the brand internationally to poker players, with the poker room sponsoring the 2010 World Series of Poker.

Nevertheless, Everest Poker’s lofty ambitions were quickly dampened as new gaming regulations entered its core markets, and its operations were heavily impacted by higher costs and lower player values.

Terminating Everest Poker, BetClic Group governance are reported to be focusing on its flagship brand BetClic as the company prepares for the start of UEFA Euro 2016 in France.

BetClic is set to begin the migration of Everest Poker players to BetClic poker on 31 May, the operator will migrate all account balances, VIP profiles and loyalty/reward points.