Quote:
Originally Posted by 3 Bullits
Blanca Games is being liquidated, the parent company of Cereus.
Has that been determined? Also, when you go to blancagames.com there is no mention of the bingo business. IIRC it mentioned them in the past. All I can find is this PR:
http://blancagames.com/news/blanca%2...eus%2Dnetwork/
Quote:
About Blanca Games, Inc. Stuart Gordon established Blanca Games, Inc. for the purposes, among others, of making acquisitions in the online gaming industry, including the purchase of the Cereus Poker Network. Mr. Gordon is the CEO of Blanca and is a pioneer in the online gaming industry. He is also the founder and operator of bingomania.com and Helix Gaming International, Ltd,
He is the founder and operator of thos companies, but this seems to imply Blanca Games is not. There is nothing about any other gaming site on Blancagames.com except for Cereus.
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Doesn't the DoJ's involvement make this situation much different from the above mentioned?
It could go either way. Either the feds say all of the money is theirs because they demanded more than all of the assets combined in the civil suit. It could also go the direction that the feds receive pressure to release the seized funds in return for the guarantee that it is used to pay players. It is a complex situation that is possible will take months to find the DOJ's position/involvement.
The entire liquidation will likely take years. Precedent in online gaming bankruptcies is that four years is a good number. Tusk has never paid from about that long ago, Eurolinx has not from over 2 years ago. BetOnSports, that did have the feds involved, took about 4 years and paid less than 5 cents on the dollar.
Edit: I was typing while Ike was typing, basically we agree.