“In these tough economic times,” stated Mr. Trevor Holewinski, Chief Executive Officer of PokerPlasm, Inc., “with higher transportation costs, dwindling advertisement sales, and a declining U.S readership, we had to make a cost analysis move. But let me be clear, PokerPlasm.com will still be functional and provide readers with the same high quality articles, interviews, and tips you have come to expect.”

The statement came as a shock to the poker community, especially after Mr. Holewinski’s $4.85 million purchase of a 5,000 square foot beachfront home in the Cayman Islands.

The future of PokerPlasm sponsored poker tournaments, like the Shut The Jester Up Series, the PokerPlasm Olympics, and the PokerPlasm Heads-Up Tourney were not mentioned in the statement, but most analysts feel they could be in jeopardy.

Both magazines were printed monthly since October 2005. The company is privately held so no financial statements have been made public.