New owners for UB and Absolute Poker

New owners for UB and Absolute Poker

Friday, 27 August 2010

The Cereus Poker network, home to Absolute Poker and Ultimate Bet has new owners. The Antigua based Blanca Gaming has purchased the network, complete with both Absolute Poker and UB, for an undisclosed sum.

Stuart Gordon, Chief Executive Officer of Blanca Games, said, "The acquisition of Cereus is a significant opportunity for us.  Cereus is a major platform of well-managed assets.  Over the past few years, it has created new brands, like, that are extremely well-positioned in the most desirable demographic in our market:  players in the 20s and 30s age brackets.  From our perspective, we have acquired a large, sophisticated online gaming operation with state-of-the art capabilities, ranging from compliance to business intelligence to online marketing to customer service.  We see a tremendous growth opportunity in this deal and beyond, as Blanca seeks additional acquisitions in the market."

Mr. Gordon further commented, "We are confident that the Cereus Network has found an excellent home in Blanca Games.  Over the past several years, Cereus has developed into an outstanding platform, which is poised for significant growth.  This transaction will benefit Cereus players and employees alike."

Absolute and UB have both been at the centre of superuser account scandals with over $20m stolen from players' accounts. Gordon alluded to the importance of security, adding, “We intend to leverage the existing strengths of the Cereus Poker Network, particularly in the areas of security and customer service. Although we are impressed with many of the new security features on the Network today, security is and will remain our top priority. We're also pleased with the efficiency and the player-friendly approach of Cereus's customer service operation, but we will always be seeking to improve in this area."

No operational changes are expected to be made to either site with the game experience remaining the same for players.

Tags: Poker News, New, owners, for, UB, and, Absolute, Poker