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Media Corp Still Silent On Purple Lounge Failure

Monday May 21, 2012 : MEDIA CORP REMAINS SILENT ON PURPLE LOUNGE FAILURE (Update)
 
One week on, and players have yet to hear from new management
 
It's now been a week since Purple Lounge Casino players learned of the unlamented departure from parent Media Corp plc of chairman Justin Drummond and chief executive officer Sara Vincent, yet players have still not been contacted directly by the new management to assure them that their reportedly segregated funds remain safe, or given any indication of when they will be allowed to withdraw their account balances.
 
The new management following the acquisition of Intabet is Phil Jackson (42) in the chairman's office and Adam Fraser-Harris (42) who has taken up the mantle of chief executive officer.
 
Both were involved in the due diligence processes leading to the acquisition of Intabet and have had ample time to familiarise themselves with the affairs of both Purple Lounge and Media Corp.
 
Despite this, the only direct information on the future of Purple Lounge has been a brief comment in the company's accounts which advised: "...with the restructuring of Purple Lounge now underway, the directors believe the acquisition of Intabet will allow the company to re-establish a newly branded online casino and poker room to run alongside the new betting platform that Intabet provides."
 
With the issue still an active topic of discussion and criticism on many online poker sites and message boards, the influential information site Pokerfuse correctly commented this week:
 
"When a highly recognizable online gaming brand - owned by a publicly listed, UK-regulated, London-officed media corporation—goes offline, tells their customers nothing about their deposits, and refuses to talk to the media, it speaks volumes.
 
“Media Corp must immediately announce that player funds are secure and enable players to withdraw these funds. [This is] not just about the valueless rubber stamps of offshore gaming regulators, but about the false sense of protection a customer has dealing with a publicly-traded company."
 
There is clearly a pressing need for Media Corp management to tell their players what is happening and when.



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