PokerStars Pulling Out of Georgia

Online poker giant PokerStars has sent notice to players in Georgia that they're closing their offering in the Eastern European country effective March 1st.

The Flutter Entertainment subsidiary sent the advisory to players in the country, asking them to withdraw their balances by the 1st of March. The company has also asked their media partners that they're leaving, although no reason for the pullout was given.

It's believed that Georgia is preparing to change regulations for internet betting, as the country's Prime Minister Irakli Garibashvili approved of a draft from the Ministry of Finance that would implement new rules. That draft had orders that online betting only be open to those 25 or older and would have a 65-70% tax on revenues. There will also be a ban on gambling of all kinds. These are expected to go live sometime in spring.

For its part, PokerStars said that they'll honor bonuses and ticket repayment for tournaments for players closing their accounts.

Casino Listings News is following this story and will update readers as more developments arise.