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

[jetset]

ISLE OF MAN - Microgaming announced today that it has terminated its software licence agreements with the Linx Media Group, with immediate effect. It has been advised that the group Companies are insolvent.

Microgaming is presently gathering all facts relating to this matter and will provide further announcements as and when information becomes available.

Microgaming recommends that any Eurolinx, BetOnBet and Linx Casino players affected by this situation submit their enquiries directly to the relevant liquidator as soon as contact details become available.

For historical reference:

http://www.casinomeister.com/forums/...er-issues.html

http://www.casinomeister.com/forums/...ffiliates.html

http://www.casinomeister.com/forums/...-betonbet.html

http://www.casinomeister.com/forums/...ited-list.html

http://www.casinomeister.com/forums/...been-paid.html

[wangpoker]

Linx Media Group Company Statement

21. August 2009

MALTA – The Linx Media Group has today announced that it is seeking to put its businesses into liquidation and will cease trading with immediate effect.

As yet, the Linx Media Group does not know how long this process will take, but it will provide updates on the situation as and when information becomes available and when liquidators are appointed.

A company spokesperson from the Linx Media Group stated: “It is with great regret that we make this announcement. I appreciate the concern and frustration that this will inflict on the Eurolinx, BetOnBet, and Linx Casino player community. Affected account holders are those individuals who have agreed to a contractual relationship with the Linx Media Group through Eurolinx, BetOnBet and Linx Casino. All available player funds are held by these businesses. As soon as we have information on how to lodge claims with the liquidators, we will communicate this via www.eurolinx.com, www.BetOnBet.com and www.linxcasino.com.”

[De Beuker]

That doesn't look very good..
I have some cash in my account at Linx casino.
Does this mean I can wave my money goodbye?
That would really suck.

[pokeraddict]

I did not lose any money in this, luckily my state was banned from Microgaming years ago, but I know a lot of people who did lose money. It is time to really press Microgaming and for people in the indistry to realize they are a sham. Years ago Microgaming was a name you could trust but first Tusk and now this. It shows Microgaming has no concern for what their licensed skins do and no concern for player funds being help separate or safely. If they turn their heads again on this they need to be marked as a rogue software provider as it seems they clearly don't care about players or legit licensees concerns. I can't think of more than a handful of Microgaming skins I would want even owing me $100 right now.

If I were a skin owner I would be furious, this just devalued your property no matter how strong your brand is. Players everywhere are left to wonder if they can trust any MG site. I hope the skins push MG to make this and Tusk right or risk losing the entire business in the long run.

Are we really to a point where we can say Microgaming is one of the shadier companies in this industry? Who ever thought this day would come?

[De Beuker]

Wel, I do lose money, I have a pending withdrawl for €120, not that much but still..
What really bothers me is the mail I got thursday from linx, with nice deposit offers, mind me, but they already knew they were bankrupt, right?
What a bunch of crooks!
Lesson learned, I'll stick to 32RED and Spin Palace from now on.

[NASHVEGAS]

Originally Posted by pokeraddict

I did not lose any money in this, luckily my state was banned from Microgaming years ago, but I know a lot of people who did lose money. It is time to really press Microgaming and for people in the indistry to realize they are a sham. Years ago Microgaming was a name you could trust but first Tusk and now this. It shows Microgaming has no concern for what their licensed skins do and no concern for player funds being help separate or safely. If they turn their heads again on this they need to be marked as a rogue software provider as it seems they clearly don't care about players or legit licensees concerns. I can't think of more than a handful of Microgaming skins I would want even owing me $100 right now.

If I were a skin owner I would be furious, this just devalued your property no matter how strong your brand is. Players everywhere are left to wonder if they can trust any MG site. I hope the skins push MG to make this and Tusk right or risk losing the entire business in the long run.

Are we really to a point where we can say Microgaming is one of the shadier companies in this industry? Who ever thought this day would come?

The perfect storm is brewing (hopefully a good thing) but the most surprising has been the few MG's casinos I still have accounts at treatment of it's long time loyal customers.

Of course this does not compare to Jet's news but throw in the uncertainty of the EWX current situation and the new international ACH requirements and the impetus behind it, anything is possible!!

EDIT:there is another US issue but not comfortable mentioning, maybe ATB. Not enough players, not enough to be an on-going concern.

[me_and_ed]

Bad news for Linx Group, GREAT news for unsuspecting players!!!

[pokeraddict]

Originally Posted by De Beuker

Wel, I do lose money, I have a pending withdrawl for €120, not that much but still..
What really bothers me is the mail I got thursday from linx, with nice deposit offers, mind me, but they already knew they were bankrupt, right?
What a bunch of crooks!
Lesson learned, I'll stick to 32RED and Spin Palace from now on.

The fact they were sending reload offers out to thousands of players in the past week is very suspect. They knew their days were numbered and they couldn't pay anybody that deposited so it isn't absurd to say they are guilty of fraud there even if the bankruptcy wasn't fraud itself.

[vinylweatherman]

Originally Posted by pokeraddict

The fact they were sending reload offers out to thousands of players in the past week is very suspect. They knew their days were numbered and they couldn't pay anybody that deposited so it isn't absurd to say they are guilty of fraud there even if the bankruptcy wasn't fraud itself.

This could also be SERIOUS fraud. It is a corporate crime known as "trading whilst insolvent", and company directors are the ones held responsible. Sadly, the penalties are a bit lame, even here in the UK, and there have been many cases of companies trying to trade their way out of a hole, whilst knowing full well they could no longer meet their liabilities. If they succeed, no-one ever finds out, but it is when they fail that a far larger amount of customer's money is lost than would have been the case if they ceased trading as soon as they realised they could not honour their obligations.
In many cases, the high ranking employees, directors, and owners know the end is coming, and they have an opportunity to make sure THEY never lose out when the ship finally sinks. It is lesser employees, and customers, that suffer the loss when intention to liquidate is announced
because they have NO advance notice whatsoever, and can do nothing to protect THEIR funds.


What is worrying here is that this is YET ANOTHER case of an MGS casino/poker operation going bust, and in pretty much the same way ("business as usual", MGS notified of intention to liquidate, license pulled, THEN players get told when it is too late to move funds out)

There is STILL no conclusion to the TUSK liquidation for POKER players, and here we go again, with the full expectation that players here too will get NOTHING back from MGS.
It is too early to tell what will happen to CASINO players, and in the past MGS have had a reputation that there was some "insurance fund" of last resort to ensure that a player NEVER lost out to an operator going bust. The TUSK issue blew a big hole in this idea, and if CASINO players lose out in this case, this part of the trust element of playing at an MGS casino will be sunk forever.
This will be a HUGE disaster for MGS if the industry were to suddenly pick up following a reopening of the US market, since players would know there was no such thing as this "insurance fund", and may well suspect it never existed at all, and that it was all a "lie" whose truth was fuelled by the fact that the industry was robust enough that MGS was never facing having to pay out to players, because they were always able to persuade a new operator to take on the liability of existing funds when buying the casino assets of the liquidated operator. In the case of Integrity casinos, Casino Rewards bailed MGS out by taking over the casinos. Casino Rewards AGAIN bailed out 6 MGS casino skins when TUSK went under. Casino Rewards do NOT have infinite resources, yet they seem to be the only operator interested in this particular type of salvage. If Casino Rewards is not interested in these MGS casinos, who else might be. From what I can see, groups are cutting DOWN on the number of casinos they operate, and the only value would seem to be a player base, some of whom may already have accounts at a group taking them over.
Players should hope that Casino Rewards are still interested in the salvage value of failed MGS casinos, since this route would be much faster than the liquidation process, and from the TUSK affair, it is likely that negotiations and bids are already in progress (from any number of groups, or even a completely new operator)- but in strictest confidence at present.

[biggambler567]

Hi folks i just went to linx casino to redowload the softare and deposit and his is the message i found online there, not sure if I am posting it in the correct form, so please excuse me if i am not, the message is below, also I am an affiliate there so I am sure this means I wont be getting paid my commission for last month!!!! Also i feel sorry for any players out there who have money in their casino accounts!!!!

Linx Media Group Company Statement

21. August 2009

MALTA – The Linx Media Group has today announced that it is seeking to put its businesses into liquidation and will cease trading with immediate effect.

As yet, the Linx Media Group does not know how long this process will take, but it will provide updates on the situation as and when information becomes available and when liquidators are appointed.

A company spokesperson from the Linx Media Group stated: “It is with great regret that we make this announcement. I appreciate the concern and frustration that this will inflict on the Eurolinx, BetOnBet, and Linx Casino player community. Affected account holders are those individuals who have agreed to a contractual relationship with the Linx Media Group through Eurolinx, BetOnBet and Linx Casino. All available player funds are held by these businesses. As soon as we have information on how to lodge claims with the liquidators, we will communicate this via www.eurolinx.com, www.BetOnBet.com and www.linxcasino.com.”