Week in Review May 26 2013

May 27, 2013
Week in Review May 26 2013

Intrade started making payments to all players this week.  These payments occurred two weeks after players with balances over $1,000 were paid, provided the players negotiated a settlement with the company.  Intrade’s balance sheet was upside down an estimated $700,000.  Many large players were required to take a loss on their funds to guarantee the company would stay out of liquidation, which would have then meant customers would potentially wait years for their money and still only receive a fraction of their balance.

Intrade players must request their payment via bank wire.  No other withdrawal options are available.  The fees for a wire are estimated to be $30-$50. 

Two More Nevada Interactive Licenses

Aristocrat and GambleID were both approved for a Nevada interactive gaming license in Nevada.  Aristocrat is licensed as a service provider that will potentially provide software to future operators.  Aristocrat, primarily a slot manufacture, already has a license to operate slot machines in Nevada brick and mortar casinos.  Aristocrat was the 22nd company to receive an interactive license in Nevada.

GambleID became the 23rd company to receive an interactive license in Nevada.  The company is approved to offer security and geo-location services to online poker operators.

PPN and Two Processors Close

The Poker Pros Network went offline this week.  Two related payment processors also closed.  MyPayLinq and Pic-Club appear to have ceased operations as well.  All three websites are offline.  Pic-Club’s domain expired last week and was not renewed. 


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