IS PLAYSAFE A MISNOMER?

7 September 2007

Clash between poker companies hits the headlines


The well-connected information portal Point-Spreads.com is currently airing what appears to be an acrimonious dispute between Playsafe Holdings AS and an unidentified poker licensee who claims that he is owed over $16 000 in rake, and that his players are owed over $55 000 by Playsafe, which he alleges continued to operate his site after he closed it in March this year.

Playsafe is additionally accused of not sending reconciliation reports after closing off the licensee's access to the admin panel of the online poker site.

The licensee was a member of the Las Vegas From Home Network when it was acquired by Playsafe. Not wishing to join Playsafe's fully owned subsidiary Action Poker Network, the licensee apparently gave notice that he intended to switch to another network...and his troubles with the Norwegian public company began.

Playsafe Holding AS is listed on the Norwegian OTC and services such poker brands as Nine.com, Youwager.com, English Harbour Poker and JimFeistPoker.com.

When Point-Spreads contacted Action Poker Network earlier this month, Licensee Manager Jeremy Brenes said: “We are working on getting payments resolved."

"This is the same response the licensee has been receiving for months. To date, no funds have been dispersed," the Point-Spreads report reveals, adding that emails to Ben W. Johansen, COO of Playsafe Holdings AS went unanswered. The portal also advises that CEO Mats Johnson has apparently left the company, despite still being listed on the corporate website.

Point-Spreads.com is monitoring the situation and will continue to issue reports on it.

Online Casino News courtesy of InfoPowa