Online poker room and casino PKR has shut down due to financial difficulties according to a company statement. The sudden closure has alarmed players who have funds deposited with the online gaming operator.
PKR which operates on the Microgaming platform had abruptly closed its site on May 3. The operator has since announced that it was experiencing financial difficulties and was taking professional advice on its issues.
Microgaming has stated that PKR has filed a legal application with the Court for Administrative Orders in the United Kingdom, the hearing for which is expected to take place sometime this week.
PKR had shifted to Microgaming’s network in February this year citing the need for better player liquidity.
According to PKR, it will release information once its hearings are concluded on how players and creditors can lodge enquires and gather other process details. MPN has clarified that it does not hold players’ money as it is only the network. The closure has yet again highlighted the issue of protecting players from the collapse of offshore gambling companies.
The first suggestion that the operator was in trouble came when PKR.com went offline suddenly. Subsequently Microgaming issued a statement via email saying that the site had been closed at the request of PKR. A more detailed statement was later released by Microgaming on behalf of PKR which mentioned financial issues as the reason for the shutdown.
Based out of UK, PKR was launched in 2006 as a poker room on a stand-alone basis with unique 3D gaming software. The 3D feature enabled players to have customizable avatars, an innovation not found in other operators. While it never became one of the bigger operators, the poker room developed a niche following amongst players. Its shift to MPN did not affect its gaming experience as PKR retained and in fact upgraded its colourful environment and helped MPN see a jump in its visitors.
PKR carries out its international gaming operations via a license granted by Alderney which is a part of the Channel Islands and is regulated by the Alderney Gambling Control Commission. It additionally holds licenses in the UK and Denmark. PKR joins the list of previous gaming sites shutting down due to operational difficulties such as Lock Poker, Absolute Poker and Ultimate Bet. Players on such sites are often left in the lurch as a result of the offshore regulators typically not holding them accountable.