Jake Cody Parts Ways with PKR Online Poker Room
This was published 22-11-2012Jake Cody, the British poker ace, has announced that he has parted ways with three dimensional online poker site PKR after his annual deal to represent them at live tournaments around the world expired.
Cody signed a sponsorship deal with PKR a year ago but according to Dan Grant, PKR media manager the association has now come to its conclusion. Grant added that Cody had huge talent, a class act and that it was a pleasure to deal with him and wished him the best of luck in his future, both at and away from the felt.
Cody’s departure leaves only four names still remaining on PKR’s pro roster, namely Vladimir Geshkenbein, Scott Shelly, Marc Barriler and Sofia Lovgren.
24 year old Cody joined the site shortly after winning the $25,000 buy- in NLHE heads-up event at the 2011 World Series of Poker which resulted in him becoming PKR’s highest profile pro. Cody is also one of very few players to have won poker’s Triple Crown for European Poker Tour Deauville, World Poker Tour London and World Series of Poker titles.
Cody’s departure is rumored to be a cost-cutting measure for PKR as the last few years have been tough for European online poker companies. It is thought that PKR’s informal search for outside investment may be taking a more concrete form as formal prospectus to potential investors have been distributed by the company who is hoping to bag a seven-figure amount or an outright sale of the company.
PKR’s revenues have been cut by almost 25% over the last few years due to the downturn in online poker’s fortunes. Several observers put the sale value of PKR at GBP 50 million which is only about half of what it was thought to be worth just two years ago. The company has met with prospectiveUSpartners, including tribal casinos inCaliforniabut no contracts have as yet resulted from this.
