Absolute Poker's History and Stance Revealed

Published Sunday, May 01, 2011 - Online-Casinos.com

Absolute Poker was one of the poker rooms that the DoJ shut down in the USA recently, and it has decided to get legal advise before the firm concedes that it will return funds to its member players.

The St. Petersburg Times out of Florida has written an article outlining Absolute Poker’s convoluted history and rocky road  culminating in the DoJ shutdown. Absolute poker issued a statement regarding it’s stance and reaction to the charges. "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. The statement continued, "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.”

The article in the Florida paper placed the chips on the table with a blow by blow description of the winding road that Absolute poker has followed over the years. Founded in 2002 by four colleagues at the University of Montana and soon nearly 30,000 players were logging on at once, trying their luck at games like Texas Hold'em. In just four years, annual revenues surged past $200 million.
Absolute poker started with a license to operate a poker room from Costa Rica with legal eagles saying it was alright as long as they remained a poker room. Then in 2006 the Unlawful Internet Gambling Enforcement Act, making it a crime for businesses to take payment for Internet gambling from U.S. players. The firm changed hands again with Tokwiro Enterprises buying the brand.
In 2007 and 2008, cheating scandals at Absolute Poker and its sister site, Ultimate Bet, raised the ire of Kahnawake regulators and fearing another potential showdown the firm moved to a company called Blanca Games licensed in Antigua. The final cut hasn’t been applied yet and Absolute Poker fortunes and the future of player’s funds are now in the hands of busy lawyers.

 

 

Related news

Return to Latest News