In a move that could shake up the global poker game, PokerStars, the world’s biggest online poker platform, is shutting down its global brand.
The move comes amid a number of investigations by regulators, including one into possible collusion between online poker players and the game’s organizers.
PokerStars announced on Thursday that it will shut down its website by May 31, 2018.
“As a result of recent and ongoing legal proceedings and regulatory inquiries, Pokerstars has decided to suspend operations as of May 31,” the company said in a statement.
“We will continue to offer our customers the best service and offer the widest selection of games available.”
Paddy Power, the leading global poker company, said it would also suspend its poker service by May 1.
“PokerStars has made a decision to close its online service for good and we regret that it has taken this decision,” said Paddy, in a release.
“Our poker platform will remain online until the end of May.”
In a statement, Paddy said it was disappointed in the decision to shut down the online service.
“Despite its commitment to provide the most accessible online poker experience possible, Poker Stars’ decision to suspend its website was not a smart one,” Paddy CEO Michael J. Collins said in the statement.
Poker has been a core part of Paddy’s business model since the company was founded in 2008.
It operates online poker tournaments across the world and has partnered with some of the biggest players in the industry to offer its services.
A spokesperson for Paddy declined to comment on the closure of the poker service.
The global poker industry is heavily reliant on online players, as they have an estimated $40 billion market cap.
The poker industry has been plagued by accusations of collusion between its players and its organizers, many of whom operate in secret.
In January, US authorities raided the offices of several of the worlds largest online poker operators, including Paddy.
The companies accused of collusion were among the largest operators in the world at the time, with their total revenues at $14 billion.
The raids were part of a wider investigation into collusion between players and organizers, as well as illegal online gambling activities.
In March, US regulators raided the headquarters of PokerStars and its affiliates, accusing them of laundering money through its servers.
The US Attorney’s Office for the Southern District of New York said it is investigating allegations that PokerStars laundered millions of dollars in illegal gambling activity between 2015 and 2017.
Paddy did not immediately respond to requests for comment.