Eurolinx, BetOnBet, and Linx Casino gone into liquidation!!!

[Pulver]

That is possible, but in one of the other articles I linked to (http://www.hegnar.no/okonomi/article389321.ece) it says in the heading "Pyrmaide-norwegian central in poker-collapse". Further down they write that:

"Jo Arild Remme was listed as CEO of the company Eurolinx, the earlier profiled pyramide-mainman is again central in controversial businesses."

So when they mention it in several articles, I guess they have their facts straight.


They also write that some players may have as much as $140 000 in locked accounts... Now thats bad..

[deucebag]

They also write that some players may have as much as $140 000 in locked accounts... Now thats bad..

There are several players on 2+2 who had 6 figures on these sites. A couple say they are owed ~$250 000, and famous poker player Tom "durrr" Dwan had $193k in there.

[Pulver]

I was just going to post what deucebag said, hehe.

In respect for Casinomeister I will not link to another gambling forum, but there is a very interesting thread about the same topic at the 2+2 forum. Just search for "Eurolinx" and it will pop right up.

[alsarian]

Hi guys,

I have a few questions if anybody can answer them.

1) Does MGS provide its poker operations under its class 4 Maltese licence?

2) If so, does the licence stipulate that the skin must actually hold a licence in some jurisdiction? This pdf does show the skin holding a licence, but doesn't say if it's required to fulfil the Maltese licensing obligations.

3) Does anybody have a contact in MGS so they can find out of MGS confirmed that Eurolinx were in fact licenced in Curacao before letting them join the network?

[vinylweatherman]

Given what is being uncovered, how did they manage to fool Microgaming into granting them the software operating license. If forum members can find all this out, why were a PROFESSIONAL outfit such as MGS unable to find all of this out, and start asking the relevant questions, and requiring substantive answers, before either granting, or renewing, software operating licenses.

This case should also expose once and for all this seeming myth about the MGS "trust fund" that promises a "last resort" return of player CASINO funds if all else fails.

It used to be thought this "trust fund" covered the MGS POKER platform too, but then TUSK came along................

If MGS have allowed players to believe in a "trust fund" that has never existed, they have surely committed a deception by omission, since they must have been aware that a key bond of trust between players and MGS casinos was based on the believed existence of this "trust fund", even though it was never called upon in earnest till the TUSK poker collapse. I believe the few other MGS casino operator failures were dealt with by selling the assets cheaply to another operator, who agreed to underwrite the liabilities (balances owed to players) in exchange for the player base and skins for a "knock down" price. This happened when Integrity casinos failed (Captain Cooks etc), and recently for the 6 TUSK casinos, both lots were picked up by Casino Rewards (one reason why they have SO MANY casino skins).

[alsarian]

Just to add,

Having looked into the class 4 licence a little more, it appear that this may not allow the holder to operate a poker network where they take a portion of the rake. If MGS are not running their poker network under a Maltese licence, where exactly are they licenced?

[spiderlegz]

Had completely forgot the EULA of the casino software. So the players at Linx casino are in the best position.

5. Limitation of Liability
5.1. In no event will Microgaming or its licensees be liable to you for any consequential, indirect, pure economic, or incidental damages, or for any lost profits or lost savings, even if a Microgaming representative has been advised of the possibility of such loss, damages, claims, or costs, or for any claim by any third party. Microgaming’s aggregate liability and that of its supplies under or in connection with this agreement shall be limited to the amount paid for the software, if any. Nothing contained in this agreement limits Microgaming’s liability to you in the event of death or personal injury arising from Microgaming’s negligence.

But they of course have the if any. And the players would still have to wait for the liquidation.

And the BOB players shouldnt actually jump trough the roof for them being licensed in Malta. What I have heard they didnt keep any player funds in a segregated account. So basically they can take legal action against Jo Remme like in the Goldvictory case.

And to correct my previous post. I see it very unlikely that the EL and BOB players are to be taken over by another room. The sums are most probably higher than in TUSK and there are over 1 million in "pending" cashouts.

If someone would have said to me 2 years ago that MG will be there with the likes of Futurebet I would have laughed. Now I know better.
They played a big role in the TUSK fiasco by advising the skins to go with TUSK/MPP which was at that time a company in very bad shape.
And in this case they knew about the problems for months and the Linx group couldnt have been in good financial position when they bought BOB in March this year and opened the casino in April.
But hey, they got rake, license fees etc. A no lose situation for them.

Personally I stopped all my play at anything that has something to do with MG. I prefer not to give any money, indirectly tough, to scumbags of this caliber.

And every serious poker affiliate should stop promoting MG poker rooms. Kudos to those that already have. I wouldnt be surprised if a certain room at the network would fold in a few months. Wont say which room, but I guess some of you might know.

[BigRounder72]

My condolences to everyone that got screwed by this scam of a site.

Luckily for me, I beat the rush, and got screwed by them over 16 months ago for $145,000, and posted by warnings on here and 2+2.

I hope I was able to save a few dollars to players that paid some heed to my warnings back in April 2008 (when CM removed EL from the accredited list due to my case)

Again, my condolences to those that lost their rolls.

BigRounder72

[spiderlegz]

Marc"myst"Karam, Eurolinx sponsored player, recently posted his story at 2+2. Very interesting and gives a hint when EL started to go downwards. In June 2008, so way before they bought BetOnBet and started Linx Casino.
Can be found here: http://forumserver.twoplustwo.com/sh...62&postcount=1

Also one affected player actually got a response from MG which was the following:

Thank you for your e-mail.

We are shocked and saddened that this has happened to one of our licensees.

We are currently unable to discuss anything regarding the situation as we are still waiting on further information ourselves. Information will be released as and when it becomes available.

Please understand that Microgaming’s activities are limited to providing software and poker network services. In keeping with the practises of other service providers, whether software or otherwise, Microgaming does not manage the business activities of its operators. Microgaming does not have any right to see the financial records or accounts of its operators.

Microgaming does not (and is not permitted to) hold player funds. We recommend that you lodge a claim directly with the liquidator as and when information becomes available. Microgaming will be taking this course of action, as should all creditors.

Thank you once again for your e-mail.

Microgaming

So they say they are shocked. Really? Several players reported months ago about problems with EL/BOB.

They say they just provide the network and software. And whats the BS about not being permitted to hold player funds? That should be the practice for every poker network. Still they handle the site to site transfers, banning etc.
And about not being permitted to see any finacial records of their licensees. So basically every non-traded casino or poker room can go bust the next day without MG having a clue. Just start a casino or poker room and start to scam people. And EL/BOB would probably still be operating if they hadnt "invited" MG to their offices.


And to those that have their rolls there. There probably will not be any liquidation. Because theres apparently so llittle money left that it wouldnt be enough to pay the liquidators.
Have a "semi"friend that managed to dump his entire roll of ~8k. Wonder how much dumping went on over the summer?

Edit: so if you want to be safe playing at MG choose a PLC. 32Red, Unibet or Ladbrokes.

[wangpoker]

Thanks, spiderlegz.
I don't trust MG any more... I have asked all my friends to stay away from MG casinos and poker rooms except Ladbrokes.