MOBILE GAMBLING PROVIDER IN TROUBLE

24 July 2009

Cecure Gaming in administration
 

Cecure Gaming, which claimed that it created the world’s first mobile, real-money multiplayer poker game in 2004, has gone into administration amid speculation that it was the victim of depressed economic conditions and burgeoning competition in the mobile gambling field.

It is not known what will happen to its main operation, Aces Royal. Cecure Gaming’s software platform, AR3, is reputed to be the fastest gaming platform available.

A notice on the London-based company's website this week announced:

"The service has been currently suspended. The Administrators are seeking an acquirer for the business, interested parties should contact Patricio Gordillo of Cavendish Corporate Finance LLP on +44 (0) 207 908 6046.

"Information for Players

* All player funds are held in a secure ring-fenced bank account; so player funds are safe.
* Arrangements are currently being made to return funds to players.
* Further details will be posted on this website shortly concerning the process. Please check the website for updates.
* For players who have up to date account details there is no need to contact us at this stage.
* For players whose account details are incorrect please email any amendments to cecure@bakertilly.co.uk

Cecure gaming was headed by chief executive officer Matthew Welch, who joined in May 2007 as chief marketing officer after management responsibilities for an online dating service. Other key members of the management team were:

Executive Chairman, Peter Karsten (SVP Sonera, VP Citibank, Head of VAS at Nokia)
Chief Technology Officer, Alan Dursham (Sonera, CMG, Barclays, FSA)
SVP Poker, Martin Rogan (Sonera, Barclays)
SVP Casino, Frederic Soulier (Sonera, Qantas)

The administration is being overseen by administrators Graham Bushby and Geoffrey Carlton-Kelly of Baker Tilly, and the sale process is being managed by Cavendish Financial.    

Online Casino News Courtesy of Infopowa

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