Absolute Pokers Troubles Continue: Company Battles Rumours

Absolute Poker has had it rough the last few weeks. The U.S. Department of Justice recently shut down the company’s U.S. domain and charged the company with money laundering, and other very serious charges. There have been tons of rumours and speculation surrounding the company since the seizure and charges.

One of the most rampant rumours is that Absolute Poker have declared bankruptcy. In order to dispel the rumour, Absolute Poker released a statement to the contrary. It read, “As previously stated, Absolute Poker and UB ceased their U.S.-facing operations due to recent legal developments in the United States. The company is currently restructuring and is focusing its resources on consolidating its non-U.S., rest-of-the-world operation and software business.”  In summary, the company is supposedly restructuring but not going into bankruptcy.

This statement, however, contradicts a supposed letter sent out the company’s shareholders, which is claimed to have stated the following, “with no cash on hand and no prospects for any cash flow for the foreseeable future, the Board of Directors is required by Norwegian law to enter the bankruptcy process.” Whether or not this is indeed true remains to be seen.

Absolute Poker has been forced to lay off employees, 300 to be exact. The company’s betting shop’s servers have gone down as well, at least its American ones. Absolute Poker’s European betting shop is still online.   

Though Absolute Poker’s European operations are still running, the company’s future may still be in doubt. They are facing half a billion dollars in fines for the crimes the U.S. Department of Justice has charged them with.

source: bookmakersinc.co.uk

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