International Poker Network Drops US Dollar in Favour of Euro

Friday September 28, 2007

The International Poker Network, operated by St. Minver Ltd. and Boss Media AB, will change its operating currency from US Dollars to the Euro effective 1st October 2007.

IPN, which is home to numerous sites including Mermaid Poker, Celeb Poker and Poker Heaven is making the change due to the fact that most of its players are European based and accustomed to trading in Euros and in a possible response to the devaluation of the US Dollar.

Customer account balances, buy-ins, tournament prize pools and pending bonuses will be converted to Euros from Monday, and players will benefit from the opportunity to win more cash in the higher valued currency.

The move will also benefit the companies on the network who could increase revenues from the higher incremental spend and limit their exposure to currency exchange fluctuations.

Amongst IPN's competitors, the 24hNetwork already uses the Euro as its base currency and the time may now be right for the other major operators to follow suit and service their main market in its own local currency.