Wednesday May 16, 2012 : MORE STALLING FROM PURPLE LOUNGE PARENT
But still no real information from online poker and provider operator's parent Media Corp group
Purple Lounge online casino and poker players and Media Corp shareholders are becoming increasingly restive at the lack of real communication from parent group Media Corp plc, which this week stalled for the third time in as many weeks with an uninformative holding email.
The latest email communication merely advised: "Purple Lounge is working hard on a resolution to our current situation and we hope to give you further news by the end of the week. We are anticipating a relaunch of the gaming services in the very near future."
This follows an original email promising information within seven days, followed by one promising details in another five days.
For some months now players have been complaining about no or slow payments from the company, which last month abruptly shuttered its online operations without giving reasons or briefing players on what is to happen to their account balances.
Since then Media Corp executives have ignored attempts by players and media to open a dialogue, although in a corporate statement the company admitted that Purple Lounge was in financial difficulties and had consumed around GBP 900,000 in company financial resources.
Media Corp shareholders on various specialised message boards have been scathing about the alleged mismanagement of the company and its lack of success.
Chairman Justin Drummond has claimed to be in negotiations with Gaming Media Group, which owns The Poker Channel and Poker Heaven, but no detail on these talks has emerged from either company.
In the absence of transparency and disclosure, speculation has been extensive, excited further by a blank email welcoming Purple Lounge poker players to Devilfish Poker which was apparently sent out in error recently.
As We to press this morning, Media Corp's silence was broken by four press releases in quick succession, reporting:
* The resignation of Drummond and CEO Sara Vincent
* The failure of the Gaming Media Group negotiations
* A new deal with Intabet
* Dismal six month interim financial report for Media Corp.
See our afternoon bulletin later today for more detail.