UB / Absolute Poker plan to liquidate assets to pay back players

UB / Absolute Poker plan to liquidate assets to pay back players

Saturday, 29 October 2011

PokerStars were extremely quick to pay their players post Black Friday. As we all know, things haven't been quite as simple at Full Tilt Poker. The one name that has been almost forgotten is that of the CEREUS Network, the home of UB.com and Absolute Poker.

Players at those sites could be a step closer to getting their money back though. A statement released by the Kahnawake Gaming Commission on Thursday revealed that Blanca Games (which took over CEREUS in August 2010) has been in serious discussions with the Southern District of New York (SDNY) about a possible proposal to “facilitate the reimbursement of both US and non-US players”.

The “potential solution” would establish “a process to liquidate Blanca's assets and distribute proceeds to players”. The proposal is currently being considered by the SDNY.

UB and Absolute Poker have been open for business to players outside of the USA but traffic has plummeted to almost negligible numbers of players.

To read the full statement, click here.

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Tags: UB.com, Absolute Poker, Kahnawake Gaming Commission, Black Friday