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5050POKER'S MALTA LICENSE SUSPENDED

Thursday June 28,2012 : 5050POKER'S MALTA LICENCE SUSPENDED
 
Lotteries and Gaming Authority institutes a player complaints procedure
 
On Thursday, following news that Microgaming had pulled 5050Poker's software licence for contractual breaches involving financial obligations , the Malta regulator Lotteries and Gaming Authority announced that it had suspended the poker company's operating licence.
 
The regulator also notified players that a complaints procedure for owed players was available, prompting several industry observers to note that the LGA appears to have learned some lessons from the dismal manner in which the recent Purple Lounge demise was handled.
 
The LGA action was the latest development in a sorry two week history that saw the poker room go abruptly offline claiming unfair treatment on new table restrictions it alleged were imposed by Microgaming Poker Network.
 
The network responded by suspending 5050Poker’s software licence, claiming contractual breaches, and that ultimately led to this week's termination of the 5050Poker contract by Microgaming....and the regulator's suspension of its operating licence.
 
The players, as usual, were left in limbo with many claiming that they had credit balances or withdrawals still in process, whilst 5050Poker muttered about liquidation assessments and legal action against Microgaming.
 
Despite the prompt suspension of the 5050Poker licence, the LGA is still coming in for player criticism over its alleged lack of licensee oversight - especially regarding segregated player accounts.
 
Recent failures of LGA licensees like Purple Lounge and Everleaf have left players with a marked lack of confidence in the LGA's willingness or ability to protect their interests.

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Gambling News :

IS DAN BILZERIAN A POKER FISH? - Dan Bilzerian, the high profile Instagram legend, jet setting playboy and allegedly deadly online poker player who claims he accrued a $50 million fortune playing the game,

Vegas Crest online casino adds 30 new games - The Vegas Crest online casino has announced the addition of 30 new video slots to its games inventory from developers GameArt and Xplosive.

AMAYA C.F.O. RETIRES - Daniel Sebag, the Amaya online gambling group's first and only chief financial officer with ten years’ service under his belt, has retired, according to a company announcement Friday.

Is Sheldon Adelson in Favor of Trumo - With the inaugural presidential lunch coming to a close Friday afternoon, US Congressional reporter Paul Kane offered an interesting tweet, noting:

SD618 Massachusetts Online Gambling bill Updates - A few more details have emerged on Sen. Bruce Tarr's new online gambling legalization bill SD618 just filed in the Massachusetts Senate.

2017 $25,000 buy-in Aussie Millions Challenge event results - Taiwan poker pro James Chen has emerged victorious in the $25,000 buy-in Aussie Millions Challenge event after besting a field of 133 at the Crown in Melbourne.

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

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