Home / Poker News October 2011 / CEREUS Network Takes Steps to Repay Players
CEREUS Network Takes Steps to Repay Players
Posted by: James Carter. - Sat, 2011-10-29 11:58
In the wake the Black Friday events, the two CEREUS network members, Absolute Poker and Ultimate Bet have flown quietly under the radar, allowing
Full Tilt poker to cope with the bulk of the ire drawn by the blocking of player funds. That however didn’t mean the two sites coped any better with the situation: they still haven’t repaid their players, despite an announcement on May according to which they had reached an agreement with the DoJ regarding player monies. The two poker rooms had been quiet on the issue up until the other day when the Kahnawake Gaming Commission, the tribal entity responsible for the licensing of the two operators, released a statement.
According to this statement, AP and
UB have submitted a plan to the DoJ regarding the reimbursements of their players. Blanca Games, the company behind the CEREUS network has apparently been in close contact with the DoJ ever since the Black Friday indictments.
According to the KGC statement, the commission learned of a Blanca Games initiative over the last couple of weeks. According to the proposed solution, Blanca Games’ assets would be liquidated, and players would be repaid from the resulting liquidities.
The proposal has apparently already been submitted to the Southern District of New York for approval.
In its statement, the KGC has yet again reiterated the reimbursement of players as its top priority. Apparently, after a period of silence which lasted from May 10 up until the release of the above statement, the CEREUS network was forced to step forth by an October 31 deadline set by the amended civil complaint which has been filed last month in the case.
Whether this statement is indeed the herald of good news for AP and UB players who have monies locked up at the two sites, or it’s just empty posturing, remains to be seen. The bottom line is that it would surely be a sight for sore eyes to see some of those player funds start moving in the right direction.
