ST. JOHN'S, Antigua -- (PRESS RELEASE) -- Blanca Games Inc. (“Blanca”), operator of online poker rooms Absolute Poker and UB.com, issued the following statement today:
“Recently, Absolute Poker and UB ceased their U.S.-facing operations due to legal developments in the United States. To ensure the on-going viability of the business, it has been necessary to downsize certain aspects of Absolute Poker’s and UB’s operations. These efficiency measures have been taken to enable the brands to continue to operate their non-U.S.-facing business.
“These actions are the result of the severe impact of ‘Black Friday’ on the business, and these efficiency measures have negatively affected not only the financial position of the brands, but also their staff and personnel. Regrettably, the negative effect of ‘Black Friday’ has extended to the Company’s highest profile group of poker professionals, known as ‘Team UB’. Consequently, Blanca’s executive management team today informed its roster of sponsored pros that, in accordance with the provisions of their agreements, their contracts have been terminated. Each of the ten Team UB pros, plus one player representing Absolute Poker...............
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“Recently, Absolute Poker and UB ceased their U.S.-facing operations due to legal developments in the United States. To ensure the on-going viability of the business, it has been necessary to downsize certain aspects of Absolute Poker’s and UB’s operations. These efficiency measures have been taken to enable the brands to continue to operate their non-U.S.-facing business.
“These actions are the result of the severe impact of ‘Black Friday’ on the business, and these efficiency measures have negatively affected not only the financial position of the brands, but also their staff and personnel. Regrettably, the negative effect of ‘Black Friday’ has extended to the Company’s highest profile group of poker professionals, known as ‘Team UB’. Consequently, Blanca’s executive management team today informed its roster of sponsored pros that, in accordance with the provisions of their agreements, their contracts have been terminated. Each of the ten Team UB pros, plus one player representing Absolute Poker...............
Read Entire Article Here