Absolute Poker and UB took more than a week to issue a statement regarding the events on Black Friday and the effect it had on the companies. They also did not make any commitment to their players regarding returning their funds. After the events that took place on Black Friday, more than 75% of players from these companies have lost their faith in them and in the possibility that they might get their money back.
Even non US players are getting jittery about the Cereus Poker Network and hence when rumors of bankruptcy were leaked out on the web, people needed a statement from the parent company Blanca Gaming.
Blanca Gaming owns the Cereus Poker Network of Absolute Poker and UB Poker and they had issued a statement regarding the matter after the news of bankruptcy spread. Their statement in effect revealed the fact that Absolute Poker and UB had been shut down in the US although their non-US interfaces were still functional, and that the companies were in the event of restructuring their organizations. It also mentioned that several employees had been laid off in order to focus on the proper usage of resources.
Blanca Gaming has accepted that the sequence of events is a result of the impact of Black Friday and as a result of this, their workforce had been liquidated. As of now, they are also in the process of rehiring 20% of staff in various important positions. And although Blanca Gaming had struggled and strived to build a good company and were committed to their employees and players, restructuring the organization in this way was a necessary step in the right direction for them.
It was also said that the reports regarding Blanca filing for bankruptcy were false and that the confusion stemmed from a different matter. Apparently, Blanca had informed a debt holder, Madeira Fjord, that their payments were going to be terminated and no future payments were going to be made to them. Hence, Madeira Fjord had decided to declare bankruptcy – but Blanca is adamant that this has no effect on Blanca whatsoever.
On the other hand, Absolute Poker and UB are trying out their player retention schemes by offering increased withdrawal limits to $1000 for Visa withdrawals and $500 for all other methods of withdrawals. Players are restricted to one transaction per week, but normalcy is expected to be restored for non-US withdrawals at the earliest. It must also be noted that although they have been discussing an agreement with the US government, there has been no progress on that front.