Pokerstars was launched in 2005 and was once considered as one of the top online poker sites in the world. At its peak, PKR had over 1 million registered users and offered a unique 3D gaming experience. However, the site's popularity declined over the years, and it ultimately shut down in May 2017.

Early Years

PKR was launched in 2005, and at that time, it accepted players from around the world, including the United States. However, due to the Unlawful Internet Gambling Enforcement Act (UIGEA), PKR banned US players in 2006.

Financial Difficulties

In May 2017, PKR announced that it would be shutting down its operations due to "financial difficulties." The site's parent company, PKR Limited, filed for bankruptcy proceedings with the Court for Administrative Orders in the United Kingdom. This move was seen as a desperate attempt by the company to stay afloat.

Microgaming Network

The Microgaming Network, which hosted PKR since March 2016, removed its support for the site, effectively cutting off access to player accounts and funds. This move left players with no way to access their accounts or withdraw any remaining balances.

PKR's Closure

On May 6, 2017, PKR officially closed its doors, leaving thousands of players in limbo. The company's corporate entities, PKR Limited and PKR Technologies, filed for bankruptcy proceedings in the United Kingdom.

Pokerstars Bailout

In an effort to help PKR players recoup their losses, Pokerstars stepped in to bailout PKR's funds. Players who had funds on the site did not have to pay any rake to cash out their balances, and Pokerstars ensured that all player accounts were fully protected.

Timeline

• 2005: PKR launches
• 2006: PKR accepts US players briefly and later bans them due to UIGEA
• 2017: PKR closes unexpectedly, but is later bailed out by Pokerstars

FAQ

When did PKR launch?

PKR opened in 2005.

When did PKR close?

PKR closed on May 6, 2017.

What happened to money deposited on PKR?

Pokerstars bailed out PKR players.

Was there a wager requirement for PKR funds at PokerStars?

No, PKR players did not have to pay any rake to cash out their funds from PokerStars.

PKR's rise and fall serve as a reminder of the importance of regulation in the online gaming industry. The site's closure highlights the need for stronger oversight and protection for players' funds. Despite its innovative approach, PKR was ultimately unable to compete with larger operators like Pokerstars and partypoker.