Hey Laurie,
Nice to see you around - I hope you are well.
The checks are being sent out now by our processing company. They are sending the biggest batches they can, but can not send out all at once, so some people who had checks approved later on last month will need to wait a little longer than those who had checks approved nearer the beginning of the month. Wires are pretty much fine also, with a little catch-up/slight delays for the earliest approved people waiting.
Concerning e-wallet accounts - Most methods are fine now and have been sent. The only delays we have (which will be cleared within the next 48 hours) are with UseMyWallet - Most withdrawals have been sent according to the date on which they were requested -
We are now waiting for more funds to arrive in our account so that we can send out the rest.
Thanks for everyone's patience.
Regards,
Louise
Rushmore, Cherry Red & Slots Oasis Rep.
Candid, but rather worrying. This indicates a cashflow issue, and given some recent failures of casinos will have players worrying.
From where are these funds coming. Does the company HAVE the funds, but just in the wrong place (poor planning), or is it more serious, where more deposits are needed to cover withdrawals currently in the pipeline. The latter scenario is what will have players rushing for the exit, even the merest HINT of it. Given that there is absolutely NO "ring fencing" of player funds, not even with Microgaming, players know full well that when a casino fails, they stand to lose almost everything in their accounts. If Microgaming players can lose everything, and TWICE (TUSK and Eurolinx), the slightest sign of problems in a casino using software with a worse reputation will create a sense of foreboding which will discourage the very deposits the casino needs to keep cash flowing.
The fact that this has gone on for two months, and upper management have refused to explain why something as simple as paying on time has been so damn hard to do, and then you slip this remark in "
We are now waiting for more funds to arrive in our account so that we can send out the rest" will have many thinking that this is a case of not having the funds in the account because the company does not have the money, rather than it being in the wrong place.
We really need more, since if it were merely a case of the money being in the wrong place, it should only have taken a few days to move it to where it is needed, similar to the length of time it might take me to transfer money from a savings account at one bank, to a current account at another, so that I can pay a bill. This is in the order of 3-4 working days, not 2 months. If it took me 2 months, it would be because I didn't have the money at all, and was trying to raise it somehow.
When this industry was in it's prime, we would probably have dismissed this as a temporary setback, but with UIGEA and the "credit crunch", there is a much greater chance that even minor dificulties could quickly drive a business, such as a casino, over the edge.
The industry could address this by implementing a "ring fence" system for player funds, such that when a casino went bust players would not lose any of their money, and if this were in place, it would be far less likely that players would worry about whether slow payment meant the casino was going bust, or was just incompetent - they would get paid in the end.
I thought, as did many, that Microgaming had such a system, and now we learn this was not so, and rightly feel we were mislead into underestimating the risk to our funds when MGS casinos went bust. Players are probably now OVERESTIMATING the risks because of these high profile failure of TWO MGS casino/poker operators, and players losing pretty much everything in both cases.
HA! Don't I wish I won too much money!! Of course my winnings went down 65.00 for the charge of sending it fedex . Any ways, can not wait to finally receive it so I can once and for all be done with this whole casino.
What does your "UPDATE ON COOLCAT WINNINGS" have to do with this 
