This story was published more than 9 years ago.
The failure of the Purple Lounge Casino and poker room has been linked to the Entraction Poker Network, a report by online poker information site Pokerfuse claims.
The article on Pokerfuse notes that when International Game Technology went before the Nevada Gaming Control Board last week, the issue of Purple Lounge's participation in the Entraction Poker Network was not brought up. Entraction was purchased by IGT from Microgaming in January 2012, a few months before Purple Lounge closed its doors to punters, leaving many with balances sitting in their accounts.
The article comments on the hearing's oversight of the link and overall matter, claiming: "Unmentioned in the hearing was the recent demise of Purple Lounge, a poker room on the Entraction poker network that failed to refund its players’ deposits after “historic operational and financial failings” forced the company into liquidation."
"In January 2012, Purple Lounge moved from Microgaming Network to Entraction. Apparently no financial discrepancies were discovered as a part of this migration, yet just months later the poker room was closed (with Media Corp claiming it had 'loaned' the company over £900,000- ed.) and, after a month with little communication, its owner Media Corp began liquidation proceedings."
"Like all skins on Entraction, Purple Lounge was licensed under the Malta LGA which requires players’ funds to be held in segregated accounts. Despite this, Media Corp has indicated that (the) loss of player funds is “expected".”
|Purple Lounge Casino||Malta|