Given the secular decline of the online poker industry, Amaya (parent company of PokerStars) will be hard-pressed to double the size of its poker arm in the next five years.

That’s one of the focal points of a new research report on Amaya authored by Adam Krejcik of Eilers Research and Online Poker Report publisher Chris Grove.

Eilers has proven to be one of the more sobering (and accurate) voices with regards to online gaming revenue predictions.

Its latest report continues that trend, and not without good reason. The online poker industry is in the midst of a multi-year downswing, attributed partially to the growing skill divide between professional and recreational players and even more so to the shift towards regulation, and subsequently, taxation.

As owner of what was up until recently a company singularly dedicated to online poker, Amaya faces more pressure than the industry’s other top dogs, both to grow its online poker business amid industry decline, and to hedge its bets by expanding into different sectors of the industry. Both models involve significant risk.