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UB and Absolute Set to File for Bankruptcy?

6/5/2011
Rumours circulating around the online poker community recently have suggested that Blanca Gaming of Antigua, parent company to UB.com and Absolute Poker, will file for bankruptcy seem to have been confirmed this week.

According to Mike Brunker of MSNBC, Blanca Gaming have now sent an email to shareholders outlining their plans for bankruptcy, telling representatives they had “no cash on hand and no prospects for cash flow in the foreseeable future.”

This comes as worrying news for those who currently have funds in account on either site as it appears neither client is in a position to refund players at present, though Blanca Gaming have not responded to questioning from MSNBC on this subject.

Absolute Poker and UB.com have already laid off more than 300 employees – or 95% of their staff – in its Costa Rican operations centre and founders Scott Tom and Brent Beckley were among 11 figures named in the recent indictments over Black Friday.

Meanwhile, the two other sites involved in the US indictments, PokerStars and Full Tilt, have already begun taking steps to reimburse players, with the former having already started returning funds to its customers and the latter intending to follow soon.
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