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New management of parent company remains silent as shares dip
Amid financial media reports that Purple Lounge parent Media Corp plc shares have declined still further to half a penny (the 52 week high was 2.08), still unpaid - and uninformed - players were this week planning to lodge legal claims against the company.
It is now well over a month since the Purple Lounge online casino and poker room abruptly closed its doors without warning players or advising them of available withdrawal methods, claiming that it was "suspending" operations.
It then transpired that the company had requested its regulator - Malta's LGA - to terminate its licence, giving an assurance that it had no outstanding player complaints and that the operation was "...compliant with the Remote Gaming Regulations," which include a requirement that player deposits remain segregated.
Malta's regulations also require that operators provide evidence that "...players’ monies have been duly refunded or alternative arrangements in respect of such monies have been made to the satisfaction of the Authority," and:
"The suspension, revocation or expiration of the licence shall not affect any liability of the licence holder for anything done or omitted to be done before the date of suspension, revocation or expiration."
Sometime previous to the surrender of the licence, the company's Malta-based "Key Official" had resigned, it was later alleged.
With the furore growing after weeks of corporate silence and ignored player and media attempts to communicate, Media Corp suddenly issued a rash of statements, among them one announcing the resignation and immediate departure for reasons unknown of chairman Justin Drummond and CEO Sara Vincent.
Two unknowns associated with a recent Media Corp acquisition - Intabet - took over: Phil Jackson and Adam Fraser-Harris became non-executive chairman and interim CEO respectively...and have thus far remained as silent as their predecessors, leaving players none the wiser.
This week players were debating the best target for litigation, with the Malta-registered company that held Purple Lounge's licence the favoured choice, but Media Corp also in the line of fire.
This issue clearly has a way to run yet despite the company's silence on player concerns.
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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