RedKings getting out out of the poker business

After 13 years of trying to make it in the cutthroat world of online poker and sports betting, RedKings is calling it quits at the end of the month, according to an announcement on its website. It’s a tacit admission by the company that online poker is just too competitive a space for smaller operators to make a profit in year in and year out.
Though company officials did not get into specifics as to why their company is exiting the online poker and sports betting markets, they did make arrangements for Betsafe to take over their promotions. All RedKings players will also have until April 28 to finish out their existing bonuses. All bets, however, must be settled up by April 24.
Details as to why RedKings was saying goodbye to online poker and sports betting were scarce in the company’s threadbare announcement which read:
After nearly 13 years of shuffling cards at the tables, we regret to inform you that we are closing two of our products on RedKings (Poker and Betting).
The casino will continue as normal and your account will stay active so you will be able to access your funds to play or withdraw at any time using your same log in details.
You can also continue to play poker and finish your existing bonuses with RedKings until the 28th April, but new bonuses will no longer be issued and the monthly Chase and Point per Day promotions have now been stopped for April.
So that you may continue playing your poker at MPN, we have arranged with our friends at Betsafe to take over our popular RedKings Promotions. We will send you the details next week.
While it’s sad to see an operator leaving the online poker business behind, it’s always refreshing to see them do it in a transparent manner like this.