So finally we actually get some news, which is so much better than being in the dark.

A few questions: As creditors, Do we have any right to information? Obviously I'd like to know what % of funds went with the casinos to their new owners. Also, the MG statement seems to imply that we actually have to lodge a claim?

Well, it is good that there seems to be some forward movement going on. I'm off to Vegas for a few days and don't plan to turn on a computer while I'm there. Hopefully I can manage to not even think about this until next week.

Can somebody break down the statement without all the jargon in it for us ******s around here...

specifically, what does "lodging a claim" mean?

Someone mentioned that even if MG offered 100 percent rakeback as compensation that most players wouldn't take it, and I said that many would for the reasons I gave. I agree with all of you who think 100% rakeback would be a bad business decision for MG, and will never happen. But my main point that many professional regulars would take advantage of free rakeback (or whatever went by that name) if it made them an extra few thousand a month is correct. A competent gambler thinks about the future, not the past, and doesn't let emotions guide decision-making.

Thanks for the update.

I'm guessing those casinos are mainly house games (hence players not storing much money on them)?

BTW I notice artic is listed as a part of casino action yet they are not included here. Maybe because they have higher deposits and more of a poker room?

Oddly enough they claim to have 6 casinos but on their casino page artic is listed as well but with very few details.
http://www.casinoaction.com/************s.aspx

Players lodging claims? Does this mean that every single player will have to file individually (as mellowman suggested)? I'm guessing liquidator is going to email us???

in a legal term what exactly lodging means? does it mean to file and get inline with other creditor and wait to see what happen? or does it mean here is my bank number send the cash?
I mean would they have some sort of estimate of how much we might be getting back by the time we lodge with liquidator?

Its about the playerpurses as a whole....

Will I be able to log into Battlefield and make a withdrawal?

This is the 'message of the day' popup on Royal Card Club:

We are experiencing a site-wide technical issue which has affected our poker room, casino, player logins, and player ability to deposit.
We apologise for the inconvenience, as we cannot say for sure when it will be fixed, but we are aware of the glitch and are working hard to resolve it as soon as possible. Thank you for your patience.

Does anybody else find this extremely misleading?

Now that is classic (notice it has only affected the ability to deposit not withdraw??)


On the plus side at least things are now moving. Also the sale of the casino group would of likly given money to Tusk as a sale of an asset.

Looks like the liquidation is going to be in Australia afterall.

As I mentioned earlier it seems like it microgaming and certain skins have been purposely misleading customers concerns regarding these issues. Aside form a brief and well hidden anouncement on the liquidation from the MGS website I have yet to see any formal mentioning of the liquidation by any of the skins on their software or websites.

Again I am grateful to those skins which have been honest and provided the players with information. But it seems like every day I become more disullusioned with online poker. It seems like very few people care about this issue (this is the second time a casino has left with my money and I have only played at 4 (pokerstars and one other skin being the safe ones) and whether or not this issue is sorted out I don't know if I will honestly play anywhere again (except for small amounts of money). I've really lost confidence in the legitimacy of online poker.

To answer TMcStacks and acethiest

None of the skins has access to change the message of the day on the software.

RCC website is updated with the latest information letting players know what is happening, including the liquidation and links to the official press releases and an email address for contact.

They mention Tusk on this video:

http://youtube.com/watch?v=Aro-mftfa34

I would like to make an update to my above post. I have just checked and the access to RCC reporting has been restored(it stopped working just after Microgaming cut Tusk off) thus allowing access to update the message of the day, which we just did.

Unfortunately this will not have any impact on players money

doesnt liquidation mean the liquidators sell all the assets, total up the money.

work out how much they owe their creditors.

then work out based on these two numbers what % they can give back to each creditor.

i.e. they have assets of say $10m. they have creditors (e.g. players, banks etc) of $30m.

so they give back 33 cents for every $1 owed. i.e if your balance was $10k you get back $3.3k.

i could be completely wrong, this is what ive seen happen to football clubs when they get liquidated.

i wish you all the best. i lost a bit over $1k on pokespoker.

john

i imagine this is part of totalling up the total amount of creditors. i imagine its up to creditors to tell the liquidators how much they are owed, not the busto company to tell the liquidators who owes what (for obv trust reasons).

gl

The end of this video where they mention tusk is EXTREMELY misleading, and hackishly so. They imply that the company rewardaffiliates is bailing out Tusk, and will repay player balances etc. This is most definitely not the case, as the press release on the rewardaffiliates site makes it quite clear they are just taking over some Tusk online casinos but not poker rooms:

"***Only the six aforementioned casinos will migrate to Casino Rewards. Any poker rooms associated with Casino Action or any of its affiliates are not part of Casino Rewards and Casino Rewards has no knowledge whatsoever of the situation therein. "

Does anyone know how long this process will take to get our monies?

jackflash is spot on. casinorewards are buying the good part of tusk (online casino, the assets) and leaving the liabilities (the online poker rooms with millions of dollars of debt) to the liquidators to mop up by selling whatever assets the online poker rooms had (not a lot i imagine) and divide the money from the sales of those assets to between all the players and any other creditos.

And Microgaming will not be honoring the monies owed.

if its not worth it, then there is no point in them doing so.

what i dont understand (i havent read all this thread as it would take forever) but how can a company buy just the casino element without the poker room element?

otherwise you could set up a poker+casino site, get loads of player deposits, spend this money on the online casino. fast forward till casino is making good money. then say you are going bust, sell the casino to a friend's company and liquidate the online poker element. obv there are serious implications for the owners, but this could be the case here (not done deliberately from the off but how its turning out)

that latest press release is really dodgy imo.

gl

john

thnx for the video jackflash
where did this guy get his info though, he said at the end, microgaming will be paying the bonuses, that means the rakeback that was owed aswell as the player balances?

Regulation not prohibition!

Also boycott Microgaming!!!

I don't get this either. Did the new owners pay Tusk? Did Tusk pay the new owners (i.e. give them some money towards the player balances they were taking over)? At least all of this has to be okayed by the liquidator, right?