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Copyright © 2016. All Rights Reserved. Poker History. Editor: Erik Smith.

RESOLUTION TO CASH-OUT ISSUES ON CHICO POKER

The solving of all legal problems among Action Poker and the new Chico Poker Network owner Julian International Holdings could go a long way towards coming to a decision of complaints that have been filed over the months that concern the inability of the players to cash out in a timely manner.

In a July 9 regulatory announcement on the Nordic Exchange a settlement was made public which “specifies that the sale of the network is now complete and all outstanding debts and obligations are to be paid in full.”

Last October, Play Safe Holding AS, which is a software development company, traded on the minute Norwegian Over the Counter Market, sold the Action/Chico Poker operation to a company in Seychelles known as Julian International Holding Ltd. Play Safe decided to keep the Action Poker domain name but decided to part with the Chico Network brand. After the purchase was made there were many problems that stopped the deal from going through as planned.

There was an email that was sent to a player that stated that the funds will be given, but it also tells players that they will have to wait for their money because it will take time to process the funds. The email reads:

JIH unconditionally guarantee past and future payouts. However, please note that there is a sizeable backlog of pending payouts which are being run through various fraud checks, prioritized and fulfilled per contractual agreements.

After the settlement there have been some reports that some players have been paid, but there are also those individuals that are still complaining about delays. Some believe that the original Chico Network must have some financial problems because the affiliates that owed money were given a settlement agreement that only paid them around 60% of the total amount that they owed.

The sites that were affected by problems include:

1. ActionPoker.com

2. BetOnline.com

3. FunWinPoker.com

4. GearPoker.com

5. Net2netPoker.com

6. PayNoRake.com

7. PokerInCanada.com

8. TigerGaming.com

 

Source: Pokerfuse