Purple Lounge Closes, No Word on Player Deposits

[Warbirds]

Wow. Hope nobody got burned too badly there http://pokerfuse.com/news/poker-room-news/purple-lounge-closes-no-word-player-deposits/

[morlspin]

Re: Purple Lounge Closes, No Word on Player Deposits Worrying to say the least. Another reminder to us all, NEVER leave big sums of money in any Poker Client!

[glceud]

Re: Purple Lounge Closes, No Word on Player Deposits There has been a thread running on 2+2 about problems with this crowd and I refuse to believe no one has contacted the regulator. Some one needs to sort out U.K gaming regulators, some one needs to tell us why all regulators are offshore. Is it something to do with the christain vote? Surely it would be better if something was in place like IBAS? Microgaming to the Entraction Network. The casino product stayed on Microgaming. The operation is regulated in Gibraltar. It is not clear whether player funds were kept segregated; it is not apparently a stipulation of the remote gambling regulations.

[reb33]

Re: Purple Lounge Closes, No Word on Player Deposits

Worrying to say the least. Another reminder to us all, NEVER leave big sums of money in any Poker Client!

Thanks for the advice Morls - it would be nice to be in a position to worry about big sums lol :D

[glennop]

Re: Purple Lounge Closes, No Word on Player Deposits Had some cash on Purple Lounge, but don't think it was much. Not possible to contact Purple Lounge, but contact details for Media Corp who own Purple lounge can be found in the following article: http://pokerfuse.com/news/poker-room-news/purple-lounge-closes-no-word-player-deposits/ :spank :spank :spank :spank Edit: oops, didn't see Fred had the link already :$

[DaMatrix]

Re: Purple Lounge Closes, No Word on Player Deposits Had some cash, plus not received rb for a while and I was in wsop final... fml grrrrrrrrrr :(

[glennop]

Re: Purple Lounge Closes, No Word on Player Deposits Got email off them today: [TABLE=align: center]

[TR] [TD][TABLE] [TR] [TD=width: 152][/TD] [TD=width: 68][/TD] [TD=width: 80][/TD] [TD=width: 84][/TD] [TD=width: 57][/TD] [TD=width: 252][/TD] [/TR] [/TABLE] [/TD] [/TR] [TR] [TD=align: center][/TD] [/TR] [TR] [TD][TABLE] [TR] [TD][TABLE] [TR] [TD=width: 562]Dear Glenn, It is with great regret that we inform you that Purple Lounge has suspended its casino and poker services. We will be contacting individual players within the next 7 days. Many thanks Purple Lounge [/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE]

[Dreamkiller]

Re: Purple Lounge Closes, No Word on Player Deposits I had one as well so "

We will be contacting individual players within the next 7 days." is kind of ironic !! Perhaps it gives a bit longer for the money to disappear. Its not like they didn't know it was on the cards - they were just trying to get more deposits in , whilst slowing withdrawals down .... classic poker site in trouble actions. I only had £15 in there so i'm just griping because this will happen more and more. What it did do was make me withdraw money from sites where things could go wrong IMHO.

:)

Its no different from any company going bust but its more personal when its poker.

[nitkos]

Re: Purple Lounge Closes, No Word on Player Deposits Anyone recive an e-mail? becouse I don't ; /

[glennop]

Re: Purple Lounge Closes, No Word on Player Deposits [TABLE=align: center]

[TR] [TD][TABLE] [TR] [TD=width: 152][/TD] [TD=width: 68][/TD] [TD=width: 80][/TD] [TD=width: 84][/TD] [TD=width: 57][/TD] [TD=width: 252][/TD] [/TR] [/TABLE] [/TD] [/TR] [TR] [TD=align: center][/TD] [/TR] [TR] [TD][TABLE] [TR] [TD][TABLE] [TR] [TD=width: 562]Dear Glenn, Apologies for the ongoing suspension of our gaming services. We are continuing to work towards a resolution for all Purple Lounge players and will be in contact within the next 5 business days. Many thanks, The Purple Lounge Team [/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE] [/TD] [/TR] [/TABLE]

[i'm lucky]

Re: Purple Lounge Closes, No Word on Player Deposits It is not confirmed yet, however is suggested that Devilfish Poker and Purple Lounge have come to an agreement that would allow the transfer of Purple Lounge players to the other Entraction Room, Devilfish Poker. This agreement, if real, might move Purple Lounge accounts altogether to Devilfish poker, facilitating the payouts of players. Will wait and see.

[Nade]

Re: Purple Lounge Closes, No Word on Player Deposits http://www.gamingintelligence.com/business/16250-players-and-staff-lose-out-as-purple-lounge-liquidated Media Corp has said that a financial review conducted by the company’s new management team has revealed historic operational and financial failings within the Purple Lounge business which make its continuing operation untenable. As a result, the business has been placed into liquidation and all staff members made redundant. The fallout from this extends beyond the company however, with Purple Lounge players potentially losing funds held in their Purple Lounge accounts. Media Corp said Thursday that it will specifically request that the appointed liquidators look into the financial arrangements within the Purple Lounge group of companies and to review the position as to player funds. “The Board regrets any corporate failings in the past and seeks to assure shareholders that it is exploring routes to try, in some way, to mitigate the expected player losses,” the company said in a statement. The collapse of Purple Lounge once again highlights the apparent absurdity of regulations in some licensing jurisdictions. Whereas licensing regimes are meant to offer a certain degree of protection to the customers of licensed online gaming sites, many are now referring to these as “good times regulators”, a reference to their perceived abandonment of players when things go wrong. Malta’s Lotteries and Gaming Authority recently announced that it has cancelled the online gaming licences of Purple Lounge, at the request of the company, and therefore has no further authority over the business. It advised players to contact the company directly regarding the return of funds. t mirrors the experience of Full Tilt players, whose licence was revoked by the Alderney Gambling Control Commission, thereby ending the regulators involvement with the business and leaving players with no responsible authority to turn to. “Notwithstanding the difficult decision it has made, the Board believes that it can put the poor trading of Purple Lounge behind it and will be working to bring the Group back to profitability, as quickly as possible,” concluded the statement from Media Corp. It is almost certain however that those profits will not find their way to the players whose funds have disappeared along with Purple Lounge’s licence. Shares in Media Corp plc (Co. Data) (AIM:MDC) plummeted 16.36 per cent in London this miorning to 0.46 pence per share. The shares have lost over 70 per cent of their value in the year to date.

[MasterOfDisaster]

Re: Purple Lounge Closes, No Word on Player Deposits Does the network (IGT/Entraction) aren't in a way responsible for this?

[glceud]

Re: Purple Lounge Closes, No Word on Player Deposits The network is just a software provider and provides for any business that has been approved a licence. Licences appear to be dished out to anyone who applys so we as the punter have no protection at all. All we can really do is stick to brands that we think are well established, but even that is risky as some major bookmakers appear to have sold their names to outside parties. There's always pokerstars,but all the good players are there:(