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Other News
BLUFF GAMING CLOSING ON ENET POKER
After the huge cashout delays the appearance of cash-flow problems is characterized by “liquidity issues” according to Bluff Gaming. They are responsible for operating a poker skin on the Enet Poker Network and have pronounced the termination of their operations.
Bluff Gaming which is Malta-licensed is not connected to the US poker publication of a similar name, and is said to close on August 31, 2012. All the balances of the poker players will be sent to the Enet Poker site.
According to an email that has been sent to players, the rakeback deals will be honored and the players will be able to make deposits and reach after their initial deposit bonuses, even if the initial deposit was generated by Bluff Gaming. Balances will be sent with play-through requirement and will be connected to the rakeback deals that are put in place. This will result in 100% rakeback deals until the player’s balances are fully withdrawn.
In the email Bulff issued a warning to players about chip-dumping in order to cash their money out. There is also a threat that the balances will be seized and accounts will be blocked. It is at the moment unknown the future of Bluff Room on the Merge Newtwork, which will be connected to the site’s parent IG & Partners Ltd. The liquidity issues have been the result of a contractual disagreement between IG& Partners and Enet, the Merge skin, which runs on the Marge cashier will face no problems. No statements connected to Merge Network have yet been issued.
IG & Partners Ltd holds a license under the Maltese LGA. The regulator requires that licenses keep the players funds in separate accounts. The network has been listed as holding a category 1 in 4 license, and due to technical problems the website only shows a small portion of the category 1 in 4 license.
The regulator has issued a no public statement and IG & Partners Ltd is not listed as having the license cancelled or even suspended. The LGA has taken a similar line with the termination of another one of its licenses, Purple Lounge which has quietly removed its license without a public statement. This is only one of the many failures of Maltese licenses.
Source: Pokerfuse