Lock Poker has officially announced that it will purchase the assets of the Cake Network and re-brand the new entity as Revolution Gaming effective June 1.
In a press release informing players of the acquisition and upcoming changes, including leaving the Merge Network, Lock CEO Jennifer Larson said that the expanding poker site has “outgrown” the Merge Network and that Lock must “forge our own path to continued success.”
Lock has assured its current players that the transition to the Revolution Gaming Network will be problem-free, requiring only a software update on May 31. Account balances and VIP statuses will remain intact, but Lock is promising increased rakeback percentages for players on the new network. Details regarding the percentage amounts have yet to be released. Lock’s marketing strategy for Revolution Gaming will focus on “player rewards and implementing a richer tournament schedule,” as well as continuing with its core philosophy of “partnering with our players.”
An upheaval of market share is expected among poker rooms and networks that are still accepting U.S. players. The Merge Network is currently 1st on that list according to PokerScout tabulations, but the loss of Lock Poker, one of the largest skins on the network, will undoubtedly erode that ranking. At the moment, the Cake Network trails both Merge and Bodog in player traffic of U.S.-friendly poker rooms, but with Lock taking over Cake with a master plan of enticing a greater number of players by offering greater rewards, the new Revolution Gaming Network is poised to grab a significant piece of the market share.
The two largest skins currently on the Cake Network, Intertops and Cake Poker, are believed to be set to operate as skins on the Revolution Gaming Network, although the press release made no mention of that detail. Lock Poker, which had established its own stand-alone cashier on the Merge Network to escape the 3-5 week cashout time frame that players on Merge had to endure, did promise players that withdrawing funds “will be as fast and easy as they are now.” With the additional player traffic expected at the Revolution Gaming Network, only time will tell if that promise will be kept.