In breaking news from the Isle of Man, Microgaming terminated its agreements with BetOnBet, Eurolinx, and Linx Casino after deeming its parent company, Linx Media Group, “insolvent.”
A statement posted on Eurolinx’s website simply reads, “The Linx Media Group has today announced that it is seeking to put its businesses into liquidation and will cease trading with immediate effect. As yet, the Linx Media Group does not know how long this process will take, but it will provide updates on the situation as and when information becomes available and when liquidators are appointed.” The status of player payouts is up in the air, as the terse Eurolinx statement claims that the individual sites are still holding funds.
The statement released by Microgaming advises affected players to “submit their enquiries directly to the relevant liquidator as soon as contact details become available.” As of yet, no liquidation information has been made public by the Linx Media Group or Microgaming. Players had been complaining of lengthy cashouts from Eurolinx as early as May. The Microgaming Network is based in the Isle of Man and has a contact phone number of +44 (0)1624 647777. It does not accept players from the United States.
A thread found on TwoPlusTwo served as a springboard for affected players, one of whom noted that the liquidation process may play out as follows: “In our case they contacted us per e-mail, it took a little over a month… then you will need to submit a claim (takes like 10 min to fill out).” In 2008, Microgaming terminated the licenses of Tusk Investment Corporation, whose online poker rooms included Battlefield Poker, Arctic Poker, and Royal Card Club. In March of last year, liquidators were appointed to the Tusk holdings.
One poster on the popular online poker forum alluded to the Tusk incident last year: “I think there is a better chance of players getting the money vs. the Tusk Fiasco. Eurolinx is operating from Malta right? They should have tighter requirements regarding player funds to operate a gambling business.” An unidentified Linx Media Group spokesperson commented on Eurolinx’s website, “It is with great regret that we make this announcement. I appreciate the concern and frustration that this will inflict on the Eurolinx, BetOnBet, and Linx Casino player community. Affected account holders are those individuals who have agreed to a contractual relationship with the Linx Media Group through Eurolinx, BetOnBet, and Linx Casino.”
In late April, Linx Media Group launched Linx Casino, which was available in a web-based Flash format and full download for Windows-based computers. According to PokerScout.com, which tracks online poker room traffic, the Microgaming Network is the eighth largest worldwide with a seven-day running average of 1,760 real money ring game players. During its peak hours, roughly double that total can be found perusing the virtual felts of the online poker network. The family of sites includes some of the industry’s marquee names like Betway, GNUF, Poker Time, and Unibet.
At the time of writing, Eurlinx and BetOnBet remained listed as clients of the Microgaming Network on the company’s website. In May, players complained of cashouts from Eurolinx taking about one month. Several users had abandoned the network completely or withdrawn their money from Eurolinx. On May 20th, TwoPlusTwo member Squabble lamented, “They’re ignoring all my emails and those from my affiliate, a public statement is looking highly unlikely.” Nevertheless, nearly three months later to the day, the sites’ parent company declared that it was seeking liquidation.
Stay tuned to Poker News Daily for the latest on the Linx Media Group liquidation.