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Poker News | World Poker News

A Plan to Reimburse Players Submitted by CEREUS Network

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On Thursday, October 27th, a statement was released by the Kahnawake Gaming Commission (KGC) stating that Blanca Games, which acquired the CEREUS Network in August 2010, has been in "close and regular discussions" with the KGC concerning a solution to speed payments back to UB and Absolute Poker players. The Department of Justice (DoJ) shut them down on Black Friday and nothing has been resolved to date to pay back the players' funds.

The full statement from the KGC website:

"Over the past several weeks, we were advised of a potential solution prepared by Blanca and its representatives, establishing a process to liquidate Blanca’s assets and distribute proceeds to players. We understand that this process has been presented to SDNY for consideration and approval.

The Commission’s foremost concern in this matter has been, and remains, the reimbursement of both U.S. and non-U.S. players, as quickly and completely as possible.

To avoid further prejudice to affected players, the Commission has demanded that all parties complete their discussions and implement a reimbursement solution without further delay."

Full Tilt Poker has been under constant fire since Black Friday while the CEREUS Network has managed to stay out of the spotlight and has remained silent other than an alleged agreement with the DoJ on May 10th. An amended civil complaint was filed last month in giving October 31st as the deadline to respond; this presented a critical time limit and the only obvious course of action for Blanca Games was to approach a solution.

Read the official advisory notice from the KGC here.

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