Microgaming's late Friday announcement that it has pulled the software licence of the Linx Media online gambling group on doubts regarding the company's solvency has been followed by extensive forum discussion and a company announcement on the relevant websites.
The Linx announcement reads:
“The Linx Media Group has today announced that it is seeking to put its businesses into liquidation and will cease trading with immediate effect. As yet, the Linx Media Group does not know how long this process will take, but it will provide updates on the situation as and when information becomes available and when liquidators are appointed.”
A further comment from the company said:
“It is with great regret that we make this announcement. I appreciate the concern and frustration that this will inflict on the Eurolinx, BetOnBet, and Linx Casino player community.
"Affected account holders are those individuals who have agreed to a contractual relationship with the Linx Media Group through Eurolinx, BetOnBet and Linx Casino.
"All available player funds are held by these businesses. As soon as we have information on how to lodge claims with the liquidators, we will communicate this via www.eurolinx.com, www.BetOnBet.com and www.linxcasino.com.”
Players on the Casinomeister and 2plus2 forums resurrected the Tusk incident in which an Australian online casino and poker group went into liquidation owing what was believed to be millions of dollars worth of obligations that liquidators are still sorting out. Some players posted that they had tens of thousands of dollars in their Linx accounts, indicating that the Linx affair could be of similar gravity.
In the Tusk Investment Corporation debacle last year, six online casinos and 28 online poker rooms were involved in the business failure.
A poster at the 2plus2 forum summarised the likely sequence of events going forward, based on his Tusk experience and once liquidators are appointed: “In our case they contacted us per e-mail, it took a little over a month… then you will need to submit a claim (takes like 10 min to fill out).” From there, patience is required as liquidators sort through the financial and player accounts to arrive at a fair distribution of what monies can be realised from the remaining assets of the company.
The poker operations of the Linx group operated on the Microgaming Poker Network, around ninth in size on the Internet with an average daily count of real money ring game players of just over 1 750. Other sites on the network include 32 Red Poker, Betway, Canbet, Carlos Poker, Cool Hand Poker, Gnuf, Intertops Poker, Nordic Bet, PokerTime, PokerWize, Spin Palace, and Unibet.
Linx Media launched its latest online casino venture, Linx Casino.com only four months ago (see previous InfoPowa report). The personalities behind the Linx Media group are at present unknown, but it has offices in Malta, indicating that it is perhaps licensed in that jurisdiction.
If this is the case, the LGA licensing authority will no doubt soon face questions on what arrangements regarding security for player funds (such as ringfencing of mandatory company deposits) are demanded as a licensing condition, and how much those deposits might bring to the liquidator's calculations.
All News Categories
- General Gambling News (6875)
- Gambling Law & Society News (3451)
- Casino Games (3081)
- Casino Software (2923)
- Land Based Casino News (461)
- Promotions & Bonuses (304)
- Casino Banking (200)
- Casino Tournaments (111)
- General Poker News (53)
- General Sportsbook News (41)
- General Bingo News (38)
- LCB News (37)
- LCB Approved Casinos (21)
- Casino Warnings (18)
- Bingo Software (11)
- Bingo Games (9)
- Predatory Terms (6)
- Online Poker Tournaments (5)
Most Viewed ArticlesSee all
Live activity feed
"LCB exclusive 10 free spins on "Fairytale Legends: Red Riding Hood - available for new players and all players that have signed up to ComeOn from LCB's link. Don't have an account at ComeOn? Sign up >HERE< Restricted countries: Denmark, Bulgaria, Estonia, and Portugal."READ
"I'm still waiting on mine from Slotastic which is still showing as "Under Review". Just got thru with Live Chat who were no help. They advised it took 2 days to review and approve a withdrawal request then 2 more days to transfer the requested funds. When I asked why there was such a delay beings the withdrawal was in bitcoin instead of answering my question the operator got snippy with me and just repeated what she had already told me like I was a child who had to be told twice. I think Casino Extreme was the one I was reading about that had the fastest bitcoin withdrawal payout times. I guess I just assumed all casinos accepting bitcoins would be about the same. Trial and error can be a difficult teacher sometimes. I think Slotastic is one of those casinos that hopes by delaying you'll lose your remaining balance waiting on your withdrawal to get approved then cancel your request just so you can play some more. They were at least partially correct. I did get tired of waiting and I did lose the rest of what I had won in my account but I'm not about to reverse my withdrawal again. Nope, not again. Needless to say when I do get my money from Slotastic I'll be looking for somewhere's else to play. Maybe I'll try Casino Extreme next time and hopefully I'll get lucky enough to check out their withdrawal procedures also."READ
lcb activities in the last 24 hours
- new members
- members online
- guests online
- new posts
- free games played