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Cake Poker money rumor

Discussion in 'Casino Industry Discussion' started by PlexRep, Jan 12, 2011.

    Jan 12, 2011
  1. PlexRep

    PlexRep Dormant account

    Occupation:
    Marketing
    Location:
    Malta
    Hi all,

    I just came across this over at CAP and as I hadn't seen it mentioned here thought I would share.

    You must register/login in order to see the link.

    It's only a rumour, and the stance by Cake seems to be 'Delays caused by the holidays' but you know what they say about smoke/fire...

    Anyone in possession of the facts?
     
  2. Jan 12, 2011
  3. Rhyzz

    Rhyzz Experienced Member

    Occupation:
    Online Gaming
    Location:
    United Kingdom
    Very interesting. I know 100% that a certain Cake skin is cruising so they will probably be concerned by this. It's probably just a few skins owned by the same holding company or something. I can't see Warren posting that just to s**t stir either, so like you say, smoke fire etc
     
  4. Jan 12, 2011
  5. 3mptyseat

    3mptyseat Quit Gambling PABnonaccred

    Occupation:
    Pressing Buttons
    Location:
    California de Norte
    It would stand to reason that they are on the brink of collapse... There traffic has been down considerably since they lost half their most lucrative skins to the merge network, and now, news that Lee Jones, card room manager and author and ex-Poker Stars manager and visionary has left citing that the ownership was 'taking the Cake Network' in a 'direction I was not comfortable with.'
    Sounds bad to me.
     
  6. Jan 12, 2011
  7. vinylweatherman

    vinylweatherman You type well loads CAG MM

    Occupation:
    STILL At Leisure
    Location:
    United Kingdom
    "The holidays" are a FORSEEABLE circumstance, and there should therefore be no UNEXPECTED delays, only PLANNED delays, due to the number of "bank holidays", and the fact that many workplaces run on reduced staff for the entire 2 week period.
    I would therefore have expected the experience to follow that of previous Christmas and New Year periods, so if people are getting worried, something DIFFERENT is happening, yet being explained away by the SAME arguments as used in a normal holiday shut down.

    Maybe players are being more careful, and they have withdrawn money, rather than let it sit around, putting further pressure on what may already be a hard pressed cashflow situation.

    Rushmore were in a similar situation, yet managed to fix their "technical problems" after a month, when many believed they too were really running out of cash. A good sign would be for the backlog getting cleared now that the holidays are over, which would be consistent with their explanation for the delays.

    If "you" haven't been paid yet, it can just mean you are not close to the front of the queue, but if NO-ONE has been paid, it means the queue ISN'T MOVING, even though the holidays are over, THIS would be the worrying sign to look out for.
     
  8. Jan 13, 2011
  9. pokeraddict

    pokeraddict Webmaster

    Occupation:
    Pro Poker Player
    Location:
    Las Vegas
    I've been following this closely. Their network is in a mess for sure. There is a rumor that Doyle's Room owes them a fortune and is going to bail. Cake has not commented on that story. From reading player complaints things at Doyle's are a mess too. I don't know that I would say Cake is in trouble as in going to close tomorrow but this is certainly a situation to keep an eye on.
     
  10. Jan 13, 2011
  11. pokeraddict

    pokeraddict Webmaster

    Occupation:
    Pro Poker Player
    Location:
    Las Vegas
    One other item I forgot to mention is that Doyles Room's download link has not worked in a week. That must be intentional. They certainly know it hasn't been working.
     
  12. Jan 14, 2011
  13. Rhyzz

    Rhyzz Experienced Member

    Occupation:
    Online Gaming
    Location:
    United Kingdom
    Interesting...I know the guy who runs Doyles, top bloke, can't see him stiffing anyone without good reason!
     
  14. Jan 25, 2011
  15. PokingStars

    PokingStars Dormant account

    Occupation:
    student
    Location:
    Secret
    So it's fair to say both sites should be avoided?
     
  16. Jan 25, 2011
  17. 3mptyseat

    3mptyseat Quit Gambling PABnonaccred

    Occupation:
    Pressing Buttons
    Location:
    California de Norte
    If these rumors are true and if that means there is trouble to come, more like 30 sites to avoid...
     
  18. Jan 29, 2011
  19. pokeraddict

    pokeraddict Webmaster

    Occupation:
    Pro Poker Player
    Location:
    Las Vegas
    Doyle's Room bailed on the network today. Betcris appears to have bailed them out and they are now on Yatahay/True Poker's network.
     
  20. Jan 29, 2011
  21. 3mptyseat

    3mptyseat Quit Gambling PABnonaccred

    Occupation:
    Pressing Buttons
    Location:
    California de Norte
    @pokeraddict

    do u already play there? I got no emails about the transition?
     
  22. Jan 29, 2011
  23. pokeraddict

    pokeraddict Webmaster

    Occupation:
    Pro Poker Player
    Location:
    Las Vegas
    They didn't make too much noise about it but it is all over the news sites.

    You must register/login in order to see the link.

    Doyle's download link has been dead for 3 weeks and it seems they have not bene processing cashouts or rakeback payments during that time. Not a good sign.
     
    1 person likes this.

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