The plot thickens...Media Corp has just (today) announced the departure of a key director, Chris Gorman, whom I think was the founder of Purple Lounge.
The April 16 trading suspension was to do with the group's moves on acquiring Gaming Media Group Limited (see Casinomeister News)
I fail to see how a total suspension of business activity for a number of days, yet with no suspension of running costs, helps a business make a profit. If this was a legitimate "technical issue", their top brass would be "all over" those responsible like a rash, and would be handing out some major bollockings by now to their contractors such as Microgaming and the hosting organisation for their gaming servers.
Whenever this kind of "technical issue" has ocurred in the past, it has turned out to be a case of "run out of money syndrome", something no amount of technical expertise can fix, hence the lengthy downtime.
If the CASINO is down, this is more Microgaming than the operator, since Microgaming control the gaming servers. Microgaming shut off gaming on Casino Action before any formal announcement was made that the operator (TUSK) had called in the receivers.
This sounds more like a "rescue takeover" rather than an "acquisition" by Media Corp. The statement that it is a "reverse takeover" actually means that it is Media Corp that is being taken over by a larger, but perhaps unlisted, company. By doing it this way, the listing can remain in place, although it is normal to suspend trading where circumstances are so unstable that a true market cannot be made in the shares.
It appears as though Media Corp needed this deal to go ahead as fast as possible, and the length of time it has taken has meant that they have now run out of liquidity and can no longer continue trading until the deal is done. Hopefully, the deal will go ahead, and players will get paid. It is if the deal falls through that players need to worry, even if only that they will end up with yet another Casino Rewards account