Warbirds Posted February 28, 2008 Share Posted February 28, 2008 A worrying message when I open my RedNines account tonight: --------------------------------------------------- We have noticed that there are a lot of rumors concerning the company operates RedNines on their payment- and license platform.These rumors are based upon information received through uncertified sources. We have as yet not heard from this company and have not spoken with Microgaming about the situation. We are now working on getting in touch with the right people to answer our and your questions that arise from this situation. We will keep you posted, The RedNines Team. ------------------------------------------------------ Are they talking about Microgaming themselves or a third party??? Fred Quote Link to comment Share on other sites More sharing options...
step1 Posted February 28, 2008 Share Posted February 28, 2008 Re: Microgaming / RedNines ??? seems to be much uncertainty at the moment. poker dream network seems to have gone too. Quote Link to comment Share on other sites More sharing options...
robsterling Posted February 28, 2008 Share Posted February 28, 2008 Re: Microgaming / RedNines ??? I was sitting at a table a couple of hours ago, when an observer posted a link to some gambling site with something in the description about a Microgaming rumour, the Poker Manager thing said something about spam and urged people not to go to link. I didn't bother because I couldn't be bothered copying and pasting, but I'm curious now. Anyone know anything? I play Purple Lounge btw Quote Link to comment Share on other sites More sharing options...
GaF Posted February 28, 2008 Share Posted February 28, 2008 Re: Microgaming / RedNines ??? Not sure I understand - who are the problems with? Not rednines or microgaming? Quote Link to comment Share on other sites More sharing options...
kippe6 Posted February 28, 2008 Share Posted February 28, 2008 Re: Microgaming / RedNines ??? it would be just my look at the moment ive money in 6 micro sites Quote Link to comment Share on other sites More sharing options...
GaF Posted February 28, 2008 Share Posted February 28, 2008 Re: Microgaming / RedNines ??? From 2plus2 http://forumserver.twoplustwo.com/showthread.php?t=141341 Support: Visitor: ress statement just out from Microgaming this evening:QUOTE:Company Statement:'Microgaming announces that it has terminated its software licence with Tusk Investment Corporation - with immediate effect, after having received Tusk's notification of its plans to put the Company into liquidation.Microgaming is presently gathering all facts related to this matter and will provide further announcements as and when information becomes available.'About TuskTusk Investment Corporation Limited operates a number of casino sites and poker rooms:Casinos: http://www.casinoaction.com/onlinecasinos.aspxChallenge Casino, Golden Reef Casino, Music Hall Casino, Nostalgia Casino, UK Casino Club; Big CasinoPoker Rooms http://www.mypokerprofit.com/poker-network-brands.asp Battlefield Poker, Royal Card Club, Red Nines, Arctic Poker, Raw Poker, Poker.ie, Daily Poker, Flush Draw Poker, Will Bet Poker, Bet Road Poker, Grand Central Poker, Off The Rail Poker, Privy Poker, Berserk Poker, Atomik Poker, Dave's Poker Room, Hetman Poker, Hot Pepper Poker, Poker Seas, TilttAA Poker, Loose Games Poker, CPT Gaming Poker, Ice Bear Poker, GoHard Poker, Caya Poker, Mr Urban Poker, Poker Sweden, Euro Poker DreamUNQUOTEFrom this it appears that the "non-compliance" issue had to do with the casino group failing to maintain the ratio of reserves to obligations.And it must be pretty serious if the casino group is contemplating going into liquidation.I'm sure we'll be hearing more from everyone involved in this over the coming days. Quote Link to comment Share on other sites More sharing options...
friskyfitz Posted February 28, 2008 Share Posted February 28, 2008 Re: Microgaming / RedNines ??? I was sitting at a table a couple of hours ago, when an observer posted a link to some gambling site with something in the description about a Microgaming rumour, the Poker Manager thing said something about spam and urged people not to go to link. I didn't bother because I couldn't be bothered copying and pasting, but I'm curious now. Anyone know anything? I play Purple Lounge btw Think I saw that too today on Boyles :ok Quote Link to comment Share on other sites More sharing options...
Valiant23 Posted February 28, 2008 Share Posted February 28, 2008 Re: Microgaming / RedNines ??? seems to be much uncertainty at the moment. poker dream network seems to have gone too. Thats owned by GNUF now mate. If you mean Dream Poker, that is. :ok Quote Link to comment Share on other sites More sharing options...
step1 Posted February 29, 2008 Share Posted February 29, 2008 Re: 28 Microgaming Skins going bust? different outfit...U.S. based network of small poker rooms. Quote Link to comment Share on other sites More sharing options...
Burnley Joe Posted February 29, 2008 Share Posted February 29, 2008 Sites Closing Down Please Check Dear joe, We recently got news about a number of Microgaming/Prima sites potentially facing close down: "Microgaming announces that it has terminated its software licence with Tusk Investment Corporation - with immediate effect, after having received Tusk's notification of its plans to put the Company into liquidation.... ...Poker Rooms http://www.mypokerprofit.com/poker-network-brands.asp Battlefield Poker, Royal Card Club, Red Nines, Arctic Poker, Raw Poker, Poker.ie, Daily Poker, Flush Draw Poker, Will Bet Poker, Bet Road Poker, Grand Central Poker, Off The Rail Poker, Privy Poker, Berserk Poker, Atomik Poker, Dave's Poker Room, Hetman Poker, Hot Pepper Poker, Poker Seas, TilttAA Poker, Loose Games Poker, CPT Gaming Poker, Ice Bear Poker, GoHard Poker, Caya Poker, Mr Urban Poker, Poker Sweden, Euro Poker Dream" Quote Link to comment Share on other sites More sharing options...
GaF Posted February 29, 2008 Share Posted February 29, 2008 Re: 28 Microgaming Skins going bust? Reading the 2plus2 thread - there are quite a few allegations that the reality is that Microgaming expelled them because 2 of the sites listed (Battlefield and RedNines) were breaking the microgaming rules on rakeback - further, it is alleged that these sites were owned by a number of the large rakeback sites :loon Quote Link to comment Share on other sites More sharing options...
GaF Posted March 15, 2008 Share Posted March 15, 2008 Re: 28 Microgaming Skins going bust? Thought this was worth bumping - so far as I know, no PL'rs are involved here, but I think it's an important lesson to all of us not to leave large funds in poker sites (and I'm the worlds worst). In this case, Microgaming Network "middle men"(the players cannot be expected to understand the ins and outs of where their money is actually held - so far as they're concerned, it's a microgaming accredited site, microgaming is responsable for their money) have disappeared with all the players money. The complete "wall of silence" from microgaming seems pretty shocking to me. All the latest news (not a lot!!) here - http://forumserver.twoplustwo.com/showthread.php?t=141341 Makes me wonder how many other skins are in similar positions - eCash at Crypto? Webdollar at Boss? Probably loads of other examples too.... Quote Link to comment Share on other sites More sharing options...
Valiant23 Posted March 16, 2008 Share Posted March 16, 2008 Re: 28 Microgaming Skins going bust? :eek :eek :eek I'm up to page 22, and at that stage it appears that what is causing most consternation is MicroGaming's attitude/lack of communication, and the conflicting stories. One guy has $380,000 tied up in a small skin and (at that point) looks like he could have lost it. Jeez....... :puke Quote Link to comment Share on other sites More sharing options...
Guest Posted March 19, 2008 Share Posted March 19, 2008 Re: 28 Microgaming Skins going bust? Am I being naive here .... would you really tie up that sort of equity in a small online enterprise ?? Or do I just think like that because I dont have a bankroll that big ! Quote Link to comment Share on other sites More sharing options...
Fonzie14 Posted March 19, 2008 Share Posted March 19, 2008 Re: 28 Microgaming Skins going bust? :welcome Myrie16 to PL Am I being naive here .... would you really tie up that sort of equity in a small online enterprise ?? Or do I just think like that because I dont have a bankroll that big ! I guess it's all relative. I would be devastated if it was me :cry(as would most of us on this site I'd imagine), but to some of the posfessionals (Mr Ivey and his pals for example), I guess $380k is just loose change :dude. Quote Link to comment Share on other sites More sharing options...
Valiant23 Posted March 19, 2008 Share Posted March 19, 2008 Re: 28 Microgaming Skins going bust? Hi Myrie, :welcome From what I've read, players were lured to these sites by huge rakeback deals, which broke Micro Gaming's terms and conditions. Before this people trusted Micro Gaming implicitly. An amount of naivety(?) or understandable ignorance of the way account balances are ring fenced by M.G. skins caused a lot of people to believe that M.G. had player balances ring-fenced (as Pokerstars do), but in actual fact (as I see it) individual skins were holding them. There is no denying that those who have lost the most have been fuelled by greed, but I'm not condemning them for that, especially as all gambling sites use the same type of tactic, and rely on their customers to make the best choices for them. The choices are obvious as well. If you play on any skinned software then obviously you're going to try and maximise the return on your investment. Quote Link to comment Share on other sites More sharing options...
GaF Posted March 19, 2008 Share Posted March 19, 2008 Re: 28 Microgaming Skins going bust? I dont believe the skins (brand identities) ever held the money Mr V, it was with the cashier/middle man... Microgaming wont deal directly with small skins, so their way of getting into this market, they licenced a middle man (Tusk) to deal with small skins. The small skins were affiliated to Tusk, Tusk were affiliated to Microgaming. The funds were held by Tusk (if not directly, then by their representative/partner). The skins - Battlefield/RedNines etc never had access to players funds... From what I can gather, all this information was hidden from players prior to the collapse - there seems to have been no real indication that players were not dealing with a direct microgaming skin.... Quote Link to comment Share on other sites More sharing options...
Valiant23 Posted March 19, 2008 Share Posted March 19, 2008 Re: 28 Microgaming Skins going bust? I dont believe the skins (brand identities) ever held the money Mr V, it was with the cashier/middle man... Microgaming wont deal directly with small skins, so their way of getting into this market, they licenced a middle man (Tusk) to deal with small skins. The small skins were affiliated to Tusk, Tusk were affiliated to Microgaming. The funds were held by Tusk (if not directly, then by their representative/partner). The skins - Battlefield/RedNines etc never had access to players funds... From what I can gather, all this information was hidden from players prior to the collapse - there seems to have been no real indication that players were not dealing with a direct microgaming skin.... Sorry, you're right. :ok I didn't realise that Tusk were licensed to specifically deal with the smaller skins, I thought that they were a 3rd party company who saw this as a way of making money. I cocked up on the cashier issue too and remember Battlefield, Red Aces and CPT(?) having skins and being as 'in the dark' as the 2+2 members. :\ Its a shitty mess though. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 19, 2008 Share Posted March 19, 2008 Re: 28 Microgaming Skins going bust? Hi Myrie, :welcome Thanks Valiant ! Poker really is like any other business it seems, everyone wants a piece of the pie and some people do better with it than others. But in cases when it goes wrong, there ends up being some individuals who suffer because of it .... Hope the problems sort itself out otherwise this will be another case the anti-poker brigade pick up on. Call me pessimistic but I can see it happening - even if the risks are the same in any other industry ...... Quote Link to comment Share on other sites More sharing options...
Warbirds Posted May 4, 2008 Author Share Posted May 4, 2008 Re: 28 Microgaming Skins going bust? Wow - after several weeks of this, the RedNines website seems... alive but no longer updated? and the actual card room still active with loads of people playing... Surely if they've actually gone bust the room should be closed, no? Fred Quote Link to comment Share on other sites More sharing options...
GaF Posted May 4, 2008 Share Posted May 4, 2008 Re: 28 Microgaming Skins going bust? I haven't kept fully up to date with it, but the last I read on 2plus2, Tusk were in liquidation and an administartor (somewhere in Australasia) had been appointed. Players were being treated as creditors and had to apply to the administrator if they wished to get a proportion of their funds back. If you had funds with them I'd check out 2plus2 :ok Quote Link to comment Share on other sites More sharing options...
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