Posts Tagged ‘Blast-Off Ltd’

UB Deadline Passes with No Refunds

Mark Seif splitting with Absolute, Annie Duke to leave Ultimate Bet?

by , Nov 3, 2008 | 9:55 pm

For those who recall the sanctions the Kahnawake Gaming Commission gave to Ultimate Bet regarding the “NioNio” superuser scandal, UB was given until Nov. 3rd to start dispensing refunds to affected customers. However, the pending litigation between Blast-Off Ltd and Excapsa Software Inc. as detailed earlier this year on has not yet been completed although terms of a settlement are nearly complete. Discussion of the settlement can be found over at 2+2. The company handling the liquidation, WSBG Consulting had a hearing Monday on the settlement and it appears that at least $15m more is due to players affected in the scandal. For those wondering why it’s taken so long for this matter to be settled, going through all the documentation on WSBG’s site and of the previous liquidator Mintz and Partners Limited would be a daunting task for anyone with an interest in the case. Expect some sort of state from UB either Tuesday or Wednesday with further details.

Some other information::

The purchase price that Blast-Off Ltd. paid to Excapsa has dropped from $130m to $81.4m.
Russ Hamilton, owner of 4,304,720 shares of Excapsa, had his shares canceled.

UPDATE: Wicked Chops Poker is reporting that Annie Duke may be leaving Ultimate Bet, and also may have won Celebrity Apprentice.

Refuted by Annie on her blog.

UPDATE #2: Wicked Chops also reports that the 60 Minutes piece on AP/UB will NOT air this coming Sunday.

UPDATE #3: Wendeen Eolis in Poker Player Newspaper reports that Mark Seif is leaving Absolute Poker.