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Posts Tagged ‘Poker Network’
Wednesday, June 15th, 2011
On June 15th the Pinnacle Poker Room will close its doors permanently as the site was told by the Entraction Poker Network that the current Pinnacle license – Pinnacle Poker is currently licensed by Curacao– is not up to snuff with current European Union Gaming regulation.
The news was released in a statement on the Pinnacle Poker website:
“The Entraction Poker Network has advised us that due to recent updates to EU gaming regulation, our current Curacao license is no longer accepted within their network. The steps required to remain within the Entraction Network will necessitate a significant commitment for Pinnacle Poker. Given that our current focus is on developing our leading Sportsbook and Casino products, we have decided not to pursue the necessary changes.”
A Pinnacle representative went on to layout the timetable for the removal of the site from the Entraction Poker Network, stating that players will no longer be able to deposit into their Pinnacle Poker funds after June 9th, and the client will be permanently shut-down on June 15th.
Players were advised to move their poker funds into their sportsbook accounts by June 15th. The following disclaimer was also included in the official statement: “Please be aware that Pinnacle Sports Poker will not be responsible for any tournament fees incurred, or potential winnings of poker hands currently in-play at the time that we are removed from the Entraction Network.”
Tags: Casino Products, Current, Doors, European Union, Gaming Regulation, Pinnacle Sports, Poker Hands, Poker Network, Poker Room, Recent Updates, Sportsbook, Timetable
Posted in Poker Industry News | No Comments »
Thursday, May 26th, 2011
After repeatedly saying they would be disallowing US players from playing at UB Poker and Absolute Poker, the Cereus Poker Network simply kept allowing US players at their tables, until finally they barred US players last week. While traffic dipped considerably, even with US players still populating their tables the network’s traffic numbers were down 83% according to PokerScout.com.
However, that was just the beginning of the Cereus Poker Network’s woes, considering that after finally barring US players we now have a good understanding why Cereus Poker stalled for so long, as the network has now lost 96% of its traffic since Black Friday according to the latest online poker traffic report from pokerscout.com.
It seems a foregone conclusion that the Cereus Poker Network is finished in the online poker world, but hopefully players will be able to get their money off the site before the end comes –although at this point this would appear to be nothing more than wishful thinking.
The only other major movement this past week was the Merge Gaming Network passing PokerStars.fr, and now sitting in the #8 spot in terms of overall traffic –although #7 and #6 are both Italian sites which are hard to quantify since they do not allow cash game players, just tournament players. So in my mind the merge Gaming Network is actually the #6 ranked online poker room/network.
Tags: absolute poker, Black Friday, Cash Game, Foregone Conclusion, Fr, Game Players, Gaming Network, Good Understanding, Italian Sites, Network Traffic, online poker, Online Traffic, Playing Poker, Poker Network, Poker Room Network, Poker World, Traffic Numbers, Traffic Report, Wishful Thinking, Woes
Posted in Online Poker, Poker Industry News | No Comments »
Thursday, May 26th, 2011
In a move eerily similar to what we saw on Black Friday, two online poker rooms were amongst ten gambling domains seized by the US Department of Justice on Monday. Three indictments were also handed down by the US Attorney Office in Maryland, as well as the seizure of 11 bank accounts stemming from an undercover sting operation that began back in 2009.
The online gaming sites caught up in this most recent crackdown on online gambling in the United States include, Bookmaker.com, 2Betsdi.com, Funtimebingo.com. Goldenarchcasino.com, Truepoker.com, Betmaker.com, Betgrandesports.com, Doylesroom.com, Betehorse.com, and Beted.com.
Of importance to online poker players are the inclusion of the two most prominent poker sites on the Yatahay Poker Network, Doyles Room and True Poker.
According to a statement issued by the Department of Justice:
“These indictments are the direct result of impressive undercover investigative work by our agents, along with the close collaboration of our law enforcement partners here in Maryland,” said William Winter, Special Agent in Charge of ICE’s Homeland Security Investigations (HSI) in Baltimore. “The proceeds from illegal Internet gambling are often used to fuel organized crime and support criminal activity. ICE HSI will work diligently to uncover illicit transactions involving these types of financial crimes. Together, with our law enforcement partners, we will disrupt and dismantle organizations that commit these crimes, regardless of their location, whether here in the United States or abroad.”
Three people from two companies were specifically mentioned in the indictment:
“ThrillX Systems, Ltd., d/b/a BetEd; Darren Wright; and David Parchomchuk, both of British Columbia, Canada are charged in one indictment. K23 Group Financial Services, d/b/a BMX Entertainment; and Ann Marie Puig, age 35, of San Jose, Costa Rica are charged in a second indictment.”
Tags: Beted, Betehorse, Betmaker Com, British Columbia Canada, Darren Wright, Doylesroom, Enforcement Partners, Financial Crimes, Funtimebingo, Goldenarchcasino, Online Poker Rooms, Poker Network, San Jose Costa Rica, Security Investigations, Sting Operation, True Poker, Truepoker, Undercover Sting, Us Department Of Justice, William Winter
Posted in Poker Industry News | No Comments »
Friday, May 20th, 2011
Another weekly report by pokerscout.com, and basically the same news for the Cereus Poker Network, which continues to be the hardest hit online poker site(s) following the US Department of Justice’s crackdown on online poker on April 15, 2011: Forever to be known as Black Friday in the poker world.
While most online poker sites and networks saw a minimal decrease in their traffic numbers –which pokerscout.com chalks up to a seasonal change, as overall online poker traffic dipped 4% this past week—the Cereus Poker Network saw their already plunging traffic numbers fall a further 29% this past week, putting their overall traffic loss at 83% since Black Friday.
Even more troubling for online poker players hoping the Cereus Poker Network survives –at least long enough for them to withdraw their funds from the site—is the fact that according to the pokerscout.com report the Cereus Poker Network is evidently still accepting US players! They initially stated they had barred US player in the week following Black Friday –which proved to be false—and once again stated they are no longer accepting US players after they reached an agreement with the DOJ about a week ago –again proving to not be the case.
If it’s true that the Cereus Poker Network is still allowing US players on their sites, UB Poker and Absolute Poker, this does not bode well for players with large amounts of money sitting in their UB and AP accounts. After all, if they are willing to lie to the US Attorney Office and the Department of Justice, it seems feasible that they are willing to lie to their customers.
Tags: absolute poker, Attorney Office, Black Friday, Crackdown, Customer Base, Department Of Justice, Doj, Money, Online Poker Sites, Online Traffic, Poker Network, Poker Players, Poker World, Seasonal Change, Traffic Numbers, True Poker, Us Department Of Justice
Posted in Poker Industry News | No Comments »
Friday, May 13th, 2011
After moving to the very small Yatahay Poker Network in early 2011, the one thing Doyles Room must have known going in was that they would need to update the Network’s software –which was considered slow and unsuitable for multi-tabling by many online poker players. Since the move from the Cake Poker Network to Yatahay, Doyles Room players have complained mightily about numerous flaws in the software, as well as a lack of features that players have grown accustomed to, and have become standard at larger online poker rooms.
With many players leaving Doyles Room, and potential players having reservations about joining the site over software concerns the site had to act. And on Wednesday night we learned that Doyles Room had put the finishing touches on a major software update that includes the following changes:
· Resizable Tables
· Bounty/Knockout Tournaments
· Stable software
· Time Bank
· Bad Beat Jackpot
· Time Based Tournaments
· 7 Card Stud Winnings Paid Immediately
· 32 Card Poker Full Real Time Backend
· Fold/Show functionality
· Improved Late registration
· Straddle Tables
· Bonus Cash
· Chop Pots Auto
· Rebuy Options
· Short Handed Tournaments
· Cascading Tables-Multi-tabling
In the E-Mail sent out to Doyles Room players the site called the upgrade just the beginning, a clear indication that the site will be continuing to make a major push into the US market following Full Tilt Poker’s, PokerStars, and Absolute/UB Poker’s withdrawal from the US market.
Just launch the DoylesRoom software that’s already on your desktop and our system will automatically upgrade you to the latest version.
Tags: Bonus Cash, Card Poker, Card Stud, Chop, E Mail, Finishing Touches, Full Tilt Poker, Knockout, Late Registration, online poker, Poker Network, Poker Players, Poker Rooms, Poker Software, PokerStars, Software Concerns, Software Time, Software Update, Stable Software, Time Bank
Posted in Online Poker, Poker Industry News | No Comments »
Friday, May 6th, 2011
The faith of the poker community in the Cereus Poker Network to repay their players seems to have finally hit a tipping point with this week’s rumors of pending bankruptcy for one of the shareholder companies of Blanca Gaming –a rumor Blanca Gaming is somewhat denying. In a random thread on 2+2 in which Isaac Haxton as well as a number of other high-stakes poker players from Absolute Poker and UB Poker posted that they are willing to sell the money they have on either Cereus Poker Network site for mere pennies on the dollar.
Haxton, who came to the attention of the poker world with his runner-up finish at the 2007 PCA, and gained even more notoriety later after having some $800,000 frozen in Neteller when the payment processor was seized by the US government for over a year, must be having a feeling of déjà vu. Haxton wrote on 2+2:
“I’ll sell AP/UB for 20 cents on the dollar. I have 300k. US account so I can’t transfer, PM me to discuss options for settling. fml,”
Other players who were looking to sell their AP/UB Poker funds at extreme discounts included Dani “Ansky” Stern and Andrew “BalugaWhale” Seidman. It seems the going rate at the moment is anywhere from $.20-$.35 on the dollar, with some people throwing out lowball offers of around $.15.
Tags: absolute poker, Ansky, Bankruptcy, Extreme Discounts, Faith, High Stakes Poker, Neteller, Notoriety, Payment Processor, Pca, Pennies On The Dollar, Poker Network, Poker Players, Poker World, Seidman, Shareholder, Stern, Tipping Point, ub, Us Government
Posted in Poker News | No Comments »
Thursday, May 5th, 2011
According to an E-Mail published at HoldemPokerChat.com, Madeira Fjord, which represents the stockholders for the Cereus Poker Network’s parent company Blanca Games, is preparing to file for bankruptcy. The Cereus Poker Network is of course the parent company of Absolute Poker and UB Poker –so we have a lot of parent companies here.
The E-Mail informs shareholders:
Most importantly, Blanca Gaming has provided notice to our subsidiary Avoine that it is currently unable to make any payments toward its debt obligations. Additionally, Blanca has further advised that there will be no future payments.
Over the past 60 days, the Company has accumulated current debts in excess of $250,000 which are increasing at $100,000+ per month. These obligations are primarily legal and professional fees in Norway.
With no cash on hand and no prospects for any cash flow for the foreseeable future, the Board of Directors is required by Norwegian law to enter the bankruptcy process.
In a related story on MSNBC.com, contributor Mike Brunker also confirmed that the troubled poker network has laid-off approximately 95% of its 300 person workforce in Costa Rica where the poker sites are located. Brunker also reported that the site has not been issuing withdrawals to non-US poker players, which would seem to have been merely a stalling tactic to bring in as much revenue as possible before filing for bankruptcy.
With this news it seems unlikely that the Cereus Poker Network’s players will ever be reimbursed the funds from their accounts, whether they live in the US or abroad.
Tags: absolute poker, Bankruptcy Process, Debt Obligations, E Mail, File Bankruptcy, Filing Bankruptcy, Filing For Bankruptcy, Fjord, Foreseeable Future, Madeira, Msnbc, Norwegian Law, Parent Company, Person Workforce, Poker Network, Poker Players, Poker Sites, Professional Fees, Stockholders, Withdrawals
Posted in Poker Industry News | No Comments »
Wednesday, April 27th, 2011
In the wake of Black Friday there was a huge exodus from a number of online poker rooms, even ones unaffected by the FBI and DOJ seizures and indictments. Now, nearly two weeks later we are starting to see traffic level-off at most of the online poker sites, and there is definitely some cause for concern from UB Poker and Absolute Poker players.
UB and AP Poker, which make up the Cereus Poker Network, have definitely been the hardest hit by the US crackdown. According to the online poker tracking site www.pokerscout.com, the Cereus Network has shed nearly 2/3 of their player base since April 15th. Compare this to PokerStars, which lost about 28% of their total traffic, and Full Tilt Poker, which initially saw a 50% drop before rebounding during the FTOPS and ending up down about 35% overall.
The Cereus Poker Network has dropped from a Top 10 poker room/network all the way down to #22 on pokerscout.com’s list. This is despite the sites’ claims that they are no longer accepting US players, but many players are saying they are having no trouble at all logging into the site and playing online poker for real-money.
This could spell the end for the oft-troubled poker network which has seen both of their poker rooms involved in Super-User cheating scandals, and has been the poster-child for all that is wrong in the online poker industry –from secrecy to cover-ups, to inferior encryption.
Tags: absolute poker, Black Friday, Doj, Exodus, Full Tilt Poker, Indictments, Online Poker Rooms, Online Poker Sites, Poker Network, Poker Players, Poker Room Network, PokerStars, Poster Child, Real Money, Scandals, Secrecy, Seizures, Traffic Level, Ups, Us Crackdown
Posted in Poker Industry News | No Comments »
Friday, April 22nd, 2011
After nearly a week of waiting, players on the Cereus Poker Network –Absolute Poker and UB Poker—finally got their first statement from the site regarding the seizure of their domain name by the FBI and DOJ, as well as the indictments handed down to key players in the Absolute Poker organization.
While not as conciliatory as the Full Tilt Poker and PokerStars statements, Absolute Poker’s statement also makes player deposits the top priority, and it appears a channel has been opened in dialogues with the US Attorney Office for the Southern District of New York:
“Absolute Poker has retained Blank Rome LLP as United States counsel to provide legal advice in relation to civil and criminal matters filed in federal court in Manhattan and made public on April 15, 2011. Absolute Poker is aware that on April 19, 2011, the US Attorney for the Southern District of New York entered into separate agreements with FullTilt Poker and PokerStars. These agreements concern the use of the respective www.fulltiltpoker.com and www.pokerstars.com domain names. The US Attorney, in a press release dated April 20, 2011, stated that the government is willing to enter the same agreement with Absolute Poker and UB.
“At this time, Absolute Poker’s top priority is, and must be, the refund of balances to its and UB’s US players. However, given the far-reaching consequences of the US Attorney’s actions for Absolute Poker and for the entire poker community, Absolute Poker believes that the responsible course of action is to review with its attorneys the relevant court filings before taking any action.”
“Absolute Poker believes that the US Attorney shares the view that refunds to US players are an immediate and pressing concern, and Absolute Poker wishes to make clear that it wants to work cooperatively with the US Attorney to safely and efficiently return its players’ funds. To that end, Absolute Poker’s counsel has initiated communications with the US Attorney’s office and plans to continue proactively advancing those discussions.”
“Further information and timely updates will be provided to Absolute Poker/UB’s players as we move forward.”
Tags: absolute poker, Attorney Office, Blank Rome Llp, Consequences, Court Filings, Criminal Matters, Dialogues, Doj, Domain Names, Fbi, Full Tilt Poker, Indictments, Legal Advice, Manhattan, Poker Network, PokerStars, Rome, Seizure, Southern District Of New York, Top Priority
Posted in Poker Industry News | No Comments »
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