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Reason Interactive Playnet Bingo Closes

12/14/09 - Online bingo software and network supplier Interactive Playnet has revealed the real reasons for its halt in operations last month, admitting that its software has been purchased by an unidentified Swedish company with an aversion to US risk.
 
Interactive Playnet's Yougotbingo Network relied heavily on American bingo players, with member sites that included BingoBoat.com, BulldogBingo.co.uk, ChurchillBingo.co.uk, ComedyBingo.com, EmeraldBingo.com, ExoticBingo.com, FunBingo.com, HappyDaysBingo.com, RainbowBingo.com, SkippyBingo.com, StarlightBingo.com and SunsetStripBingo.com.

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In the last three weeks, all player balances have been transferred to Bingogala.com, a site is owned by Bingo Entertainment which has an 11 year reputation in the United States for operating a network of sites such as Bingoplex.com.
 
Apparently the unknown Swedish group that purchased the software intends to build a European operation.
 
Reports of problems at Interactive Playnet surfaced mid-November when the Cyprus-based company advised players that it had been forced by processor problems to cease taking deposits and would have to restrict bingo pots.
 
“Due to the size of the funds and the seriousness of how this affects us operationally, we are forced to suspend online bingo operations,” a spokesperson for Interactive Playnet said.
 
“This is very unfortunate and totally beyond our control. We feel it would be wrong for us to continue at this time without the firm guarantee of payment.
 
“We have not shut down the network at the moment, however, we have suspended the deposit page and cut bingo pots.”
 
But it appears that the real reason was the impending sale of the software to the Swedish purchaser, and the need to find a new home for the network's American players.
 
The new owners of the software had grave legal concerns in continuing the practice of accepting American depositors. Due to the heavy dependency upon USA traffic, the withdrawal of the software meant the closure of the network was on sudden, but unavoidable notice.
 
This week, Nigel Simmons, chief operating officer of Interactive Playnet, said: "The American market is currently unpredictable and turbulent in nature. With the added complicated legal issues surrounding this area of online gaming, it is unfortunate, but wholly understandable, that the new software operators do not wish to continue accepting American depositors.
 
"The new software owners are well respected internationally. They have built a reputation upon delivering high quality software gaming solutions to a predominantly European based market. In light of this, we are grateful to Bingo Entertainment for stepping in and welcoming all Interactive Playnet Network player accounts to their networks."
 
Customer support representatives are still available, skippy@yougotbingo.com, to help out in any way over outstanding player questions.
 
Lars Gundersen, CTO, of Interactive Playnet commented:  “We have thoroughly enjoyed our experience in the industry and have enjoyed providing an unrivalled gaming platform to our playing community. We are sad to say goodbye to our loyal roomies and staff, but felt the necessity to exit the USA market at this time."



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