Chan Poker Customer Support issued a statement earlier today, informing their customers that the site will be shutting down on August 21st.
Effectively immediately, the site will no longer be accepting deposits. On the 21st, the poker client will be completely disabled. The company has said that they will still be processing withdrawals in a quick and timely manner.
The poker room was introduced to the public back in 2006. Johnny Chan (obviously) was the face of the site, and I'm sure he figured that he could use his superstar status within the poker world (and frequent appearances on TV) to drive players to his site.
The online poker industry is ultra-competitive, and Chan Poker had a very hard time gaining any traction. It's pretty hard to launch a new poker room when you have to compete with the likes of Pokerstars and Full Tilt Poker, no matter how big of a poker celebrity you are.
The big question is - will Johnny Chan affiliate himself with another poker room? If so, who? I would imagine that both Pokerstars and Full Tilt Poker would love to have the 10-time bracelet winner under contract. He certainly has the resume to negotiate for a spot on "Team Full Tilt", which would be worth millions to Chan (equity in the company and other perks).
Chan Poker has shut its doors. Johnny Chan is now a free agent, but I don't expect him to stay that way for very long.
Source: Chan Poker
Filed Under: Online Poker Rooms