The vast majority of online gambling companies have had a terrible 2007. Share prices have plummeted, customer bases have been destroyed, and years of rapid growth followed by drastic cost reductions and consolidation. This harsh environment has hard hit established companies in the industry.
This backdrop has allowed one company to stand out and experience phenomenal growth. PKR Poker is a new online poker room established 12 months ago. It has become the fastest-growing poker room in the entire world. Based on their performance, they are poised to be one of the most prominent players in the online poker industry in 2008.
With the passage of the Unlawful Internet Gambling Enforcement Act in October 2006, the online gaming bubble burst spectacularly. Online gambling was made illegal overnight in the United States. This led to several poker players being severely affected.
This was not the right environment for a start-up gaming company.PKR Poker was able to launch despite the industry recession.They were launched and have seen phenomenal growth. They are open for business for less than 12 months. Even more remarkable is that they refuse to accept players with real money from the US.
The industry has recognized them for their success.PKR Poker is ranked 39 in the EGaming Reviews Top 50 Industry Big hitters.PKR Poker is now rubbing shoulders alongside industry giants like William Hill, Ladbrokes, and Betfair. They are within striking distance of industry veterans like Victor Chandler, which indicates that more forward-thinking organizations will eventually outpace companies that don’t keep up with the pace.
PKR’s success raises a lot of interesting questions. The most obvious is how one start-up has managed to outperform the industry trend and experience phenomenal growth in a time when the entire industry has collapsed?
The answer to this inquiry is not immediately apparent. It is possible to identify four underlying reasons for the success of PKR Poker in the past 12 months.
1. Product differentiation
With the launch of its 3D Poker platform, PKR distinguished itself from other players.PKR’s 3D platform is a step above other platforms that have failed to deliver excellent graphics and fast gameplay. Their goal was to make online poker more real. They have achieved that ambition. Their product is unique and superior to any other currently available on the market players flock to it in large numbers.
2. PKR Management Team
Companies are made up of people. PKR has built a strong management team to avoid the dangers of Not bringing in too many industry veterans, but instead recruiting a balanced management group capable of Its founders Jez San, Leon Walters, have a vision that we will fulfill. They also have credentials.Jez was awarded the OBE for services in the computer gaming industry. Other MBA holders were also honored. INSEAD is the most prestigious business school in the world.
PKR Poker has invested heavily in marketing its product. Part of their strategy is to try to attract players from other poker networks and new players to their site. HeavyweightAdvertising deals with industry giants such as MSN were supported by well-received, in-game video footage. (View PKR poker videos) They can create a buzz within and outside the casino.The gaming industry has seen a massive increase in traffic to their website. TheirThe marketing strategy was clear, ambitious, and well-executed.
4. Continuous improvement
The team at PKR could have easily sat back and watched the official launch of their company.They had produced an excellent product. They have made a lot of unique products over the past year.They have been implementing improvements to the software on an ongoing basis. They are open to user feedback and aggressively improve the 3D platform’s look and feel. Online poker is faster and more intuitive than any other platform.
- The team at PKR looks bright. They will be able to capitalize on this massive market if the anti-gambling legislation can ever be changed.
- They will, however, face many challenges in the coming 12 months.
- There are still complaints that the software is slow on older graphics cards.
- This is an area that needs to be addressed.
- They are also releasing a casino product, much to the delight of many in the industry. They are launching a casino product.
- Their surprise is not in their exploration of the world of casino gaming, but instead, in that, they found out the truth.
- Instead of developing the software from scratch, they have made it available for download.
- Agreement with Playtech, a top gaming software manufacturer.
- This agreement offers many benefits, Opportunities to cross-sell to their existing players base take them away from their core areas of expertise.
Microgaming, one of the most prominent software gaming companies, will pose additional threats.
Cryptologic. Both companies have tried unsuccessfully to create a viable 3D platform for many years. However, their efforts have been heavily focused upon their casino and not their poker product. It would be foolish for them to overlook that a 3D platform is a future. It’s only a subject of time before industry giants create a 3D product that can compete with PKR.