Microgaming poker scandal: licensee in liquidation, and poker players abandoned and owed $5.3M - Page 34 - Poker News

Dear Daniel,

I refer to your below email and advise that we are making preparations with respect to payment of a first and final dividend in the coming months. I note that we will need to apply to court for orders in relation to the dividend and dissolution of the company. We are yet to call for formal proof of debt (“POD”) forms for dividend purposes and notify all creditors in due course.

Please find attached all reports to creditors issued to date. I also note that all reports to creditors are accessible on our website via the following link:

http://www.ppbadvisory.com/creditor-...nt-corporation

Quote

11-23-2011 , 12:03 PM

#827

Ditch Digger

Carpal \'Tunnel

Join Date: Jan 2006 Posts: 9,989

Damn, never heard about this. Probably should be a sticky so people stop giving this company business.

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11-23-2011 , 12:58 PM

#828

AhPhukit

journeyman

Join Date: Dec 2010 Posts: 205

a few cliffs please anyone?

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11-23-2011 , 08:52 PM

#829

caruzo

centurion

Join Date: Apr 2007 Posts: 108

Quote:

Originally Posted by the_most10

i love microgaming. the reputable skins are awesome. big mistakes to be playing on some of the smaller ones.

The skin that did this, Tusk, was one of the biggest. The room that subsequently also folded, Eurolinx, was I think THE biggest aside maybe from Ladbrokes.

You say you "love" Microgaming, but that it's a "big mistake" to play the smaller skins. Why would you "love" a provider whose small skins are dangerous, and which oversaw, without a word being uttered, the collapse of two of its biggest operators?

What an odd comment.

Quote

12-18-2011 , 05:58 PM

#830

Fulzgold

veteran

Join Date: Oct 2007 Posts: 3,213

Bump (never stickied for some odd reason). Lest we forget this holiday season how Microgaming did not choose to do the right thing and make the players whole when they're shady licensee stole player funds. Don't support Microgaming. We haven't seen a penny almost 4years later.

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12-18-2011 , 06:33 PM

#831

Black winter day

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 6,270

Mods, sticky this, please!

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12-19-2011 , 12:24 AM

#832

mrmixitup

grinder

Join Date: Jan 2009 Posts: 557

This should be a sticky.

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12-24-2011 , 08:22 AM

#833

Black winter day

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 6,270

Bump, and again, this should be stickied. Give me back my 15k, you thieves!

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12-24-2011 , 09:00 AM

#834

veganmav

Pooh-Bah

Join Date: Mar 2005 Posts: 4,972

+1 sticky vote and adding of cliff notes in OP

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12-25-2011 , 02:09 AM

#835

Fulzgold

veteran

Join Date: Oct 2007 Posts: 3,213

Juicy bits from OP for those unaware of Microgaming's negligence. (Tusk is their licensee who supposedly went "bankrupt")

Quote:

1: Is Microgaming going to honour the balances of the players involved in the Tusk collapse?

They may yet, but it doesn't look good. They have been uncommunicative to all involved parties, and the one occasion that they chose to break silence was to deny any responsability. It may be the case that they are waiting for the liquidation to run its course, at which point they'll survey the damage and take the necessary remedial action.

However, since they know the numbers involved from the liquidation report (see below), they know exactly the extent of their potential liability and should therefore be able to give some sort of indication of their intentions. The fact that they have not done so suggests to me that they are not planning on making the players whole.

So it's not looking good.

2: Should Microgaming honour these balances?

This one's easy. Yes. Microgaming should compensate the poker customers of failed licensee Tusk Investment Corporation, notwithstanding the fact that, as the software provider, they have no legal liability. There are two reasons for this:

In the first place, it's the right thing to do and they've done it before.

It's the right thing to do because the players are, at the end of the day, customers of Microgaming. Players, for their part, then have the confidence of knowing that, whichever licensee or skin they're patronising, they are safe because Microgaming is safe. Good for Microgaming, good for the players.

When the Tropika group failed in 2001, Microgaming paid - see the Microgaming to pay all Tropika players thread from Winneronline.

When Goodfellas Casino failed, Microgaming paid - see the Goodfellas thread at Winneronline.

On these occasions, Microgaming did the right thing and should receive all due credit.

Why would they not now?

In the second place, Microgaming have resposibility for having directed the skins to Tusk in the first place - look again at the open letter at 2+2:

Quote:
We met Microgaming and their representatives at a hotel in London in early 2006 in connection with the ICE gaming show. During this meeting Microgaming stressed the fact that they were backlogged in the process of accepting and adding new skins to their network already.

We were then advised by Microgaming to contact Tusk (also known as MyPokerProfit.com) to get a deal through them instead, since they had a deal in place with Microgaming which made it possible for new partners to get a skin up and running within days.

This was far away from what we would prefer. Maybe we are guilty of being naive, but as Microgaming said it was an easy way to join the network, and Tusk/MyPokerProfits way of doing business was condoned by Microgaming themselves. This made the deal seem legit and secure for us.

In addition to this, Microgaming said that once we were integrated in Tusk/MyPokerProfit’s system, it would be an easy process to re-convert us over to Microgaming as a regular partner once their queue was less backlogged.

So, Microgaming specifically directed these potential skin customers to Tusk.

And Tusk failed.

If you look at the liquidator's report to creditors, you can see that during the financial year in which Microgaming recommended Tusk to skins Battlefield and Red Nines, they were hardly doing well - total profit $282,000 for the year.

Maybe in late 2005, when Microgaming made the Tusk recommendation to these skins, they were doing less badly.

Or maybe they only had the 2005 report to go by, which may have been better.

Or maybe Microgaming knew that Tusk was struggling, and tried to help by sending them skin customers. Now there's a thought.

Or maybe they didn't look at the figures at all.

However, at the end of the day, Microgaming recommended Tusk.

Moral of the story is your funds aren't safe there and they don't deserve your patronage.

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12-25-2011 , 05:59 AM

#836

Enervate

banned

Join Date: Jul 2007 Posts: 3,064

Quote:

As previously advised (attached) we are making preparations with respect to payment of a first and final dividend in the coming months. I am unable to give you a specific time frame of when the dividend will be paid but can confirm it will be in 2012.

We are in receipt of your contact details and we will contact you once we notify creditors of our intention to pay a dividend.

Kind regards

Senior Analyst

merry xmas

Quote

12-27-2011 , 07:07 PM

#837

Slap My Jack

veteran

Join Date: Jan 2006 Posts: 3,158

Pre-2012 bump for Microgaming bosses:

If I run like **** next year, I'm coming with a sword to fetch my Eurolinx funds from your bowels.

Quote

12-27-2011 , 10:36 PM

#838

Imbécil

grinder

Join Date: Feb 2008 Posts: 603

Quote:

Originally Posted by Enervate

merry xmas

Mother of God where do I sign?

Quote

12-28-2011 , 11:25 PM

#839

unluckyone

journeyman

Join Date: Feb 2008 Posts: 386

OMG! I'd pretty much given up hope of any return entirely.

Did I miss the part where we submit proof of debt?

Edit: NVM I sent it in a few years ago. If you haven't yet submitted yours, the form is in the report to creditors http://www.ppbadvisory.com/uploads/i...s-March-09.pdf

Last edited by unluckyone; 12-28-2011 at 11:32 PM.

Quote

12-29-2011 , 01:00 AM

#840

3 Bullits

grinder

Join Date: May 2011 Posts: 417

Congrats guys, best of luck for a speedy refund.

Quote

12-29-2011 , 01:12 AM

#841

doomswitch3000

journeyman

Join Date: Jul 2006 Posts: 288

Quote:

Originally Posted by Thecheese

Unreal that this **** keeps happening....... Giving all the ******s who think poker is rigged or should be illegal more ammo to keep up the lame azz arguments on a daily basis.

GG life

Yea, I mean... outside of the minor detail that essentially all net-related poker HAS been rigged and/or crooked in some way, the last thing we'd want is these "******s" continuing to believe that.

The math...

"X=Y"

"Those who believe X will equal Y because it has already happened repeatedly... are ******s."

Quote

12-29-2011 , 01:57 AM

#842

pineappleAAA

enthusiast

Join Date: Jun 2011 Posts: 84

Quote:

Originally Posted by doomswitch3000

Yea, because RNGs being "rigged" for action has happened like these people always claim. Your definition of rigged is not, at all, akin to what idiots who claim "online poker is rigged" mean. Of course, you were just trying to sound smart, so whatever.

Quote

12-29-2011 , 03:55 AM

#843

0bullmarket0

journeyman

Join Date: Jun 2009 Posts: 332

are skins like (stan james poker) on the microgaming netowrk safe to play on?

Quote

12-29-2011 , 05:05 AM

#844

Fulzgold

veteran

Join Date: Oct 2007 Posts: 3,213

Quote:

Originally Posted by 3 Bullits

Congrats guys, best of luck for a speedy refund.

We're expecting pennies on the dollar :/

Quote

12-29-2011 , 06:03 AM

#845

shiish

adept

Join Date: Sep 2007 Posts: 878

i miss my monies

Quote

12-29-2011 , 06:43 AM

#846

RandomRig

stranger

Join Date: Feb 2009 Posts: 12

are skins like (stan james poker) on the microgaming netowrk safe to play on?

Not at all, they stole $20k from my account as the exchange rate went against them, and then began changing all of their t+c so as to get out of it. Went on for months....never got paid.

Quote

12-29-2011 , 07:05 AM

#847

MinusEV

Giftastic!

Join Date: Oct 2005 Posts: 12,239

Quote:

Originally Posted by 0bullmarket0

are skins like (stan james poker) on the microgaming netowrk safe to play on?

As always, it depends on the skin - you can't say they're all good or all bad based on being on the same network. Ladbrokes is obviously as solid as they come - the smaller ones, possibly not so.

Quote

12-29-2011 , 07:30 AM

#848

Sciolist

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 17,526

Quote:

Originally Posted by MinusEV

As always, it depends on the skin - you can't say they're all good or all bad based on being on the same network. Ladbrokes is obviously as solid as they come - the smaller ones, possibly not so.

It certainly reflects badly on a site like Ladbrokes to choose to be part of the network though. If they're fine with what Microgaming did what else might they be fine with?

Quote

12-29-2011 , 07:51 AM

#849

MinusEV

Giftastic!

Join Date: Oct 2005 Posts: 12,239

Quote:

Originally Posted by Sciolist

If they're fine with what Microgaming did what else might they be fine with?

This is just FUD. What exactly do you think people playing on Ladbrokes should be worried about? They've been around since the 1800s and are one of the biggest gambling companies in the world.

You can make the point that people should boycott Ladbrokes because they use microgaming and you feel that's not a morally correct choice, but it's not very truthful to claim it's from a how-safe-is-the-site point of view.

Anyone who does not trust Ladbrokes with their money should not be gambling at any site - online or live.

Quote

12-29-2011 , 08:08 AM

#850

Sciolist

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 17,526

Quote:

Originally Posted by MinusEV

This is just FUD. What exactly do you think people playing on Ladbrokes should be worried about? They've been around since the 1800s and are one of the biggest gambling companies in the world

And yet they're happy to associate with a network that left its players out to dry.

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