Chan Poker to closeThe online poker home of poker legend Johnny Chan will be closing its virtual doors forever tomorrow August 21, 2008. Rumors have been circulating the internet for a month or so prior to this announcements and were further escalated last night when the head of the chanpoker.com affiliate program announced the room was closing and he had taken a position with a soon to launch poker room called Aced.

This morning Chan Poker confirmed these reports via email to all their players and through notices posted notice on their website. Their full notice can be read at http://www.chanpoker.com/closing/

Chan Poker has promised that all players’ funds are secure and that they will do their best to process withdrawals in a timely fashion. Also Chan has stated that they are searching for a room players can move to where their point balances will be honored or compensated for and that they’ll keep players up to date as developments on that front are made.

At this time no reasons for the closure has been given and sources we’ve reached inside the company have all declined comment. Popular internet forums are filled with guesses on why Chan Poker made the decision to close, but these appear to all be speculative unconfirmed rumors at this point. One of these rumors suggest Johnny Chan plans to sign with a new room while another suggests the poker room had never been all that profitable and Chan seen better opportunities focusing on the All In Energy product line while not being associated with a particular online poker room himself.

In a few days we’ll likely have new information to report on exactly while Chan Poker has closed. In the meantime, if you have funds on Chan Poker we strongly advise cashing them out immediately in order to hopefully circumvent any potential processing delays.