Ascot group ceasing operations?

[aodat2]

I'm not too sure if this is correct or not but it seems that Ascot Sports, Ascot 4D, Ascot eCasino and everything to do with Ascot is shutting down soon.

Please do have a look at this article to know more on what I am talking about but this is truely very funny as they are quite new and just got their licenses and etc not too long ago. Don't really understand what is going on but I guess perhaps they are not getting enough business or something.

Outdated URL (Invalid)

Go withdraw your money out ASAP.

Have a good day!

 

[james01]

Interesting - no one else on Google News is carrying any news about the Ascot Group.

The site itself says that it's going through routine maintenance - logical that they wouldn't announce that they're closing down, as that could cause massive cashouts.

How did you find out about this?

 

[wangpoker]

Players now can log into A/Cs and make withdrawals but can't bet.
Please withdraw your money ASAP.

 

[jetset]

It did appear on Google, linking to the Malaysian Insider story. From our own enquiries the MI story appears to be spot-on.

And as Wangpoker comments, there's a briefly appearing notice on the Ascot e-Casino site that advises players they can access accounts and withdraw, but not deposit or bet.

Most of the email addresses we have been able to find for this group have been closed off.

 

[vinylweatherman]

It did appear on Google, linking to the Malaysian Insider story. From our own enquiries the MI story appears to be spot-on.

And as Wangpoker comments, there's a briefly appearing notice on the Ascot e-Casino site that advises players they can access accounts and withdraw, but not deposit or bet.

Most of the email addresses we have been able to find for this group have been closed off.

This is looking rather untidy, similar to when Tusk closed. Surely, players are going to want help from support to ensure an orderly exit. This seems to suggest the group have gone bust, rather than having decided on a planned exit from the market. We will have to see if players now withdrawing are getting paid in a timely manner.

 

[james01]

Thanks for the warnings.

 

[jetset]

We have an enquiry in with the Isle of Man authorities - it will be interesting to see what they make of all this.

 

[jetset]

IOM comment

Garth Kimber, the head of e-gaming at the Isle of Man government Department of Trade and Industry, has responded to our enquiry on Ascot as follows:

"It is a commercial business decision by the parent company to stop operating in the On-Line gambling arena.

"The company is having daily dialog with the Isle of Man Gambling Supervision Commission who are ensuring that player funds are being returned to the players as part of an orderly withdrawal from the industry.

"At present there are no major identifiable problems with the process. The Gambling Commission will continue to liaise with the company and monitor the situation."

We have pointed out that there is a need for the company to communicate with its players by email.

 

[aodat2]

As far and as much as I know the owner of the company, he's totally a very honorable man. He's been through tough times and even many problems in life but I totally DO NOT see him as a person who would just "Run Away" with anyone's money at all.

If this company is to be closed and running away with anyone's money, they would have done it a very long time ago. They would have still been accepting bets and delaying payments and etc.

But no, what this company did was just froze all the "Deposits" which they will be getting and also all "Bets" on it as well and only allow people to make Withdrawals from the site. Would any company which is going under do that? Far as I know, no company who is planning to run will ever do this.

Don't worry, I'm sure everything will be OK and that this owner will do good on all debts with this company.

 

[vinylweatherman]

As far and as much as I know the owner of the company, he's totally a very honorable man. He's been through tough times and even many problems in life but I totally DO NOT see him as a person who would just "Run Away" with anyone's money at all.

If this company is to be closed and running away with anyone's money, they would have done it a very long time ago. They would have still been accepting bets and delaying payments and etc.

But no, what this company did was just froze all the "Deposits" which they will be getting and also all "Bets" on it as well and only allow people to make Withdrawals from the site. Would any company which is going under do that? Far as I know, no company who is planning to run will ever do this.

Don't worry, I'm sure everything will be OK and that this owner will do good on all debts with this company.

This is EXACTLY what happened with Casino Action, deposits could not be made, bets could not be made, CS were incommunicado, but withdrawals could be requested from the software. In this case, they had gone bust, yet had deceived players for the 2 weeks leading up to this by proclaiming "business as usual". It tuend out that although players could request withdrawals, there was not enough money to honor them, and players were advised to make a claim to the liquidators of the company for their money. Casino Rewards made a deal with the liquidators for the 6 casino properties that involved them agreeing to take responsibilty for monies owed to players from Casino Action, however, POKER players are still waiting to see if they will ever receive their money.

As far as is visible to PLAYERS, Ascot have done the exact same thing, it is no good that the IOM authorities are supervising this as an orderly withdrawal from online gaming, with players getting paid, NOONE thought to make this public, and instead players first hear about what is going on by rumour and an obscure publication (except for those in Malaysia), and then find they cannot deposit or make bets.
Is it any wonder that many players feared for their funds?

Embarrasingly, affiliates will still be promoting the brand as I don;t expect they have been officially informed that they have now withdrawn from the business. While such referred players cannot lose their money, they may lose their trust in the affiliate site they used to go through to Ascot properties (again something that happened with Casino Action [Tusk]).

 

[maxd]

Hmmm, this apparent shut-down increases the urgency of an unresolved PAB we have.

Does anyone have an inside contact they can recommend? Thus far Support at Ascot has been unresponsive.

 

[spearmaster]

Ascot is in no danger of being short of funds - the owner also runs one of Malaysia's largest conglomerates.

The shutdown was a commercial decision as indicated, in my opinion a pity but these things happen.

The IOM license is a significant guarantee as the IOM has probably the strictest licensing requirements. There is a world of difference between the Ascot withdrawal and the Tusk liquidation, the only major issue was that Ascot's closure was immediate at the direction of the owner and I agree that it was abrupt and would have preferred to see a timeline or a planned withdrawal instead.

Max - PM me for assistance.

 

[Casinomeister]

It's official

Received this today from Ascot:

ANNOUNCEMENT 12 June 2008

Ascot Sports to Withdraw From On-line Gaming Business

Ascot Sports Sdn. Bhd. (Ascot Sports) announced today that it has ceased its on-line gaming businesses. The businesses were operated by the following subsidiaries:

Ascot Sports on-line sports betting business, which was operated by Ascot Sports (IOM) Limited at its site www.ascotsports.com, voluntarily ceased operations on 31 May 2008.

Ascot Sports Philippines, Inc. has been acquired by 9 Technologies Sdn. Bhd. (previously Extremely Good Sdn. Bhd.).

Ascot Sports (BVI) Limited has been acquired by El Moro Finance Limited.

The acquisitions were completed on 11 June 2008. The BVI and Philippines companies will continue to operate the on-line casino business under the www.ascotecasino.com brand until 1 September 2008 when it will migrate the business to its own brand.

 

[james01]

what the word on that PAB?

 

[Casinomeister]

what the word on that PAB?

The OP still has not been paid.