Hi guys,

 

Well it’s been a while since my last post, a lot of things happening at home and where my priorities are.

 

Sadly this post late tonight is only to bring more bad news to those in wait or simply hanging on for a glimmer of hope in the Poker world, but sadly it has recently been revealed that Blanca Gaming, who own Ultimate Bet and Absolute Poker are to seek liquidation and offer all players with funds on their accounts a measly 3-5 cents on the dollar. This has already upset a lot of players around the World and i can only say it was coming. If you see my previous posts, this was always on the cards and luckily for them (Blanca Gaming) it’s looks as if they will get away scott free with a lot of our funds.

 

Anyway, here is a copy of a post a dear friend posted to me tonight.

 

Blanca Games, the company that owns the Cereus Poker Network and its brands, Absolute Poker and http://UB.com, have submitted a plan to the US Justice Department that would result in the repayment of players. Part of that plan would include the liquidation of assets.

Players would likely not see all of their funds but rather be paid cents on the dollars as was the case recently with settlements five years after the shutdown of http://BetOnSports.com. In that case, customers were paid anywhere from 3 cents to 5 cents on the dollar. It is unclear what affected http://UB.com and Absolute Poker players would receive at this time.

The company was forced to exit the US market after an April 15 indictment had been handed down against two of the popular online poker company executives. One of the individuals was charged with money laundering and bank fraud while another was charged only with violation of the Unlawful Internet Gaming Enforcement Act. Funds were seized in conjunction with the indictment.

Blanca, which also operates an online bingo website that remains in good standing, has to file a claim for assets seized by the DOJ no later than October 31.

– Chris Costigan, http://Gambling911.com Publisher

 

Again, sorry this visit tonight wasnt with good news, but keep up hope guys, I’m sure in the near future, things will pick up and we can all start to enjoy playing poker online again and hopefully regulated to keep us all safe from awful companies like Blanca Gaming.

 

Until next time, thank you for reading and good luck wherever your playing!

 

Gra1980