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Gambling: Linx Media Out Of Business

Microgaming's late Friday announcement that it has pulled the software licence of the Linx Media online gambling group on doubts regarding the company's solvency has been followed by extensive forum discussion and a company announcement on the relevant websites.
 
The Linx announcement reads:
 
“The Linx Media Group has today announced that it is seeking to put its businesses into liquidation and will cease trading with immediate effect. As yet, the Linx Media Group does not know how long this process will take, but it will provide updates on the situation as and when information becomes available and when liquidators are appointed.”
 
A further comment from the company said:
 
“It is with great regret that we make this announcement. I appreciate the concern and frustration that this will inflict on the Eurolinx, BetOnBet, and Linx Casino player community. 

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"Affected account holders are those individuals who have agreed to a contractual relationship with the Linx Media Group through Eurolinx, BetOnBet and Linx Casino.
 
"All available player funds are held by these businesses. As soon as we have information on how to lodge claims with the liquidators, we will communicate this via eurolinx, BetOnBet and linxcasino.”
 
Players on the Casinomeister and 2plus2 forums resurrected the Tusk incident in which an Australian online casino and poker group went into liquidation owing what was believed to be millions of dollars worth of obligations that liquidators are still sorting out. Some players posted that they had tens of thousands of dollars in their Linx accounts, indicating that the Linx affair could be of similar gravity.
 
In the Tusk Investment Corporation debacle last year, six online casinos and 28 online poker rooms were involved in the business failure.
 
A poster at the 2plus2 forum summarised the likely sequence of events going forward, based on his Tusk experience and once liquidators are appointed: “In our case they contacted us per e-mail, it took a little over a month… then you will need to submit a claim (takes like 10 min to fill out).”  From there, patience is required as liquidators sort through the financial and player accounts to arrive at a fair distribution of what monies can be realised from the remaining assets of the company.
 
The poker operations of the Linx group operated on the Microgaming Poker Network, around ninth in size on the Internet with an average daily count of real money ring game players of just over 1 750. Other sites on the network include 32 Red Poker, Betway, Canbet, Carlos Poker, Cool Hand Poker, Gnuf, Intertops Poker, Nordic Bet, PokerTime, PokerWize, Spin Palace, and Unibet.
 
Linx Media launched its latest online casino venture, Linx Casino.com only four months ago. The personalities behind the Linx Media group are at present unknown, but it has offices in Malta, indicating that it is perhaps licensed in that jurisdiction.
 
If this is the case, the LGA licensing authority will no doubt soon face questions on what arrangements regarding security for player funds (such as ringfencing of mandatory company  deposits) are demanded as a licensing condition, and how much those deposits might bring to the liquidator's calculations.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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