The IGT Poker Networkwill soon be just a fossil in the strata of online poker history. Network management has sent notices to member sites instructing them that they have until December 11 to find new network homes or strike out on their own, at which point the current network will turn off the lights.

While never a high-flyer, the IGT Poker Network, best known by its former name, Entraction, looked like it could be an up-and-comer in the industry as recently as a couple of years ago. The network’s parent company, Entraction Holding AB, was sold to the United States-based gaming technology developer International Game Technology (IGT) in May 2011 for just over $100 million and the network has since been on a steep decline.

The network’s fall looks to be partly caused by the lack of development and promotion by IGT and partly by its withdrawal from several markets. In September 2011, the network blocked players from Canada, Russia, Israel, Norway, and Turkey and thus lost a significant portion of its customer base.

According to the online cash game watchdog site PokerScout, the IGT Poker Network ranks just 24th in the industry with a seven-day running average of 470 cash game players.

The decision appears to have been a short-term sacrifice in favor of long-term goals. It is widely thought that IGT was trying to position itself for eventual entry to the U.S. online poker market should the game become legalized and regulated. Closing its doors to players in “gray” markets may have been a way to cleanse itself of any potential legal issues for when the company applies for a U.S. license one day.

That strategy may have worked, as IGT, along with rival Bally Technologies, became two of the first companies to be recommended for online gaming licenses in Nevada. IGT’s license allows it to be the technology provider for an eventual intrastate online poker room, although it has yet to find a partner.

At least one IGT family of skins has already made plans to move on. iGame Malta Ltd. provided PocketFives with the following statement: “In continuation to the recent move from IGT poker networks’ turnkey solution to operate under our own gaming license, we are pleased to announce that we are taking the development of our services further by finalizing a services agreement with one of the world’s leading poker networks.”

iGame added, “The cooperation with Relax Gaming Network and the Fast Poker product, as well the other software providers, will continue as before.”

The purchase of Entraction preceded IGT’s acquisition of another online gaming property, Double Down InteractiveLLC, in January 2012. Double Down was the owner and developer of the Double Down Casino, considered the world’s largest online casino and rated as one of the top four social media games on Facebook in 2011.

Despite the efforts to take the online gaming industry by storm, IGT’s stock price has suffered in the past year. It is currently trading at $12.72 on the NASDAQ Stock Exchange, not much higher than its 52-week low of $10.92. By comparison, IGT’s share price closed at $17.44 on January 3.

While IGT has not been too forward with details as to the exact reasons behind the closure of its poker network, it did release a short statement to Pokerfuse that read in part, “Change and uncertainty in European market conditions have diminished the expected returns in certain real money wagering products. As a result, we are consolidating our product development. We are maintaining our options for future changes in market opportunities. This decision is purely focused on our European dot-com business and does not impact future decisions regarding entry into new markets as regulation, taxation, and commercial opportunities arise.”