Blanca Games Claims Absolute Poker and UB Restructuring

Published Friday, May 06, 2011 -

The online poker industry in the USA is in serious turmoil and is not expected to recover to its former glory any time soon. The shock to the players of internet poker has been one of gigantic proportions and any news that sheds light on the situation is welcomed with open arms.
In the last few days reports have been circulating regarding the demise of the three main poker rooms that were shut down by the US Department of Justice. An update has come to light regarding UltimateBet and the Absolute Poker web sites refuting previous reports that the company that owns these rooms has declared bankruptcy and players would not be reimbursed their account funds.

According to the Poker Listings web news site the parent company for Absolute Poker and UltimateBet, Blanca Games Inc., has issued a statement claiming they are restructuring and not as reported bankrupt. "As previously stated, Absolute Poker and UB ceased their U.S.-facing operations due to recent legal developments in the United States," the statement continues, "The company is currently restructuring and is focusing its resources on consolidating its non-U.S., rest-of-the-world operation and software business."
Absolute Poker released a statement after the DoJ indictments saying, "This decision comes after considerable review and analysis of the impact that ‘Black Friday’ has had on the business as a whole," the statement reads,  "The workforce has been liquidated, and the process of rehiring approximately 20% of staff in key positions has commenced. All affected employees have been informed of this necessary restructure."

Blanca Games’ reaction to the reports of bankruptcy apparently come from information that Blanca recently informed a debt holder, Madeira Fjord, that it was terminating its relationship and debt payments. A spokesperson for Blanca Games said, "As a result, Madeira Fjord apparently filed a notice of bankruptcy in Norway," "This notice has no negative impact upon Blanca, the operating company, or its brands. As stated previously, Absolute Poker and UB continue to operate their non-U.S. facing business around the world."



Related news

Return to Latest News