CAPT. ZIGZAG
Legend
Silver Level
Friday, Aug. 1, 2008
Earlier this week a story was published on Forbes.com that claimed the U.S. government had seized $24 million in Bodog assets. Today, the popular gaming site responded in the form of a statement from Morris Mohawk Gaming Group CEO Alwyn Morris.
The statement by the gaming group, which operates Bodgo, attempted to clarify what Morris described as "misimpressions" in the Forbes.com article.
First and foremost, Morris mentioned that customer deposits on bodog are safe and that players owed money by the site have been and will continue to be paid.
Secondly, Morris maintained the funds that were seized were from two separate payment processors at two separate times, and that the second seizure had nothing to do with Bodog accounts.
Here are a couple of the key paragraphs from the statement:
"... The facts are these: The first of these two cases - related to a seizure from a processor known as JBL Services - happened some time ago and has absolutely nothing to do with the current payment processing challenges being experienced in the U.S. The constraints being experienced by payment processors in the U.S. are universal in that region and not specific to any particular processor or site. Also, note that not one single player failed to get paid when the processor was disrupted.
"The second case refers to a payment processor known as Zippypayments.com and a seizure of funds from this processor's bank accounts in Nevada. The article falsely implies - but notably does not go as far as to state - that $9.9 million seized from Zippayment's Nevada bank accounts were funds on account for Bodog. This is simply false."
Morris finished by saying that payment processors are complex organizations that have a good handle on the current state of the online gambling industry and the legal implications of operating such businesses.
Bodog has been under constant scrutiny from the U.S. government even prior to the Unlawful Internet Gambling Enforcement Act, which was passed in fall of 2006.
Several figures in the poker industry have criticized former CEO Calvin Ayre for being too flamboyant with his ultra-rich lifestyle that received international exposure from magazines, newspaper and online media. Ayre stepped down from his CEO position earlier this year to work on his philanthropic organization - the Ayre Foundation - full time.
Bodog has endured, however, and remains one of the most popular online poker rooms in the world, with thousands of players sitting at its virtual tables every day.
Copyright: Pokerlistings.com
Content: CLICK
Author: Arthur Crowson
News hawk: Jus Sumguy
---
Earlier this week a story was published on Forbes.com that claimed the U.S. government had seized $24 million in Bodog assets. Today, the popular gaming site responded in the form of a statement from Morris Mohawk Gaming Group CEO Alwyn Morris.
The statement by the gaming group, which operates Bodgo, attempted to clarify what Morris described as "misimpressions" in the Forbes.com article.
First and foremost, Morris mentioned that customer deposits on bodog are safe and that players owed money by the site have been and will continue to be paid.
Secondly, Morris maintained the funds that were seized were from two separate payment processors at two separate times, and that the second seizure had nothing to do with Bodog accounts.
Here are a couple of the key paragraphs from the statement:
"... The facts are these: The first of these two cases - related to a seizure from a processor known as JBL Services - happened some time ago and has absolutely nothing to do with the current payment processing challenges being experienced in the U.S. The constraints being experienced by payment processors in the U.S. are universal in that region and not specific to any particular processor or site. Also, note that not one single player failed to get paid when the processor was disrupted.
"The second case refers to a payment processor known as Zippypayments.com and a seizure of funds from this processor's bank accounts in Nevada. The article falsely implies - but notably does not go as far as to state - that $9.9 million seized from Zippayment's Nevada bank accounts were funds on account for Bodog. This is simply false."
Morris finished by saying that payment processors are complex organizations that have a good handle on the current state of the online gambling industry and the legal implications of operating such businesses.
Bodog has been under constant scrutiny from the U.S. government even prior to the Unlawful Internet Gambling Enforcement Act, which was passed in fall of 2006.
Several figures in the poker industry have criticized former CEO Calvin Ayre for being too flamboyant with his ultra-rich lifestyle that received international exposure from magazines, newspaper and online media. Ayre stepped down from his CEO position earlier this year to work on his philanthropic organization - the Ayre Foundation - full time.
Bodog has endured, however, and remains one of the most popular online poker rooms in the world, with thousands of players sitting at its virtual tables every day.
Copyright: Pokerlistings.com
Content: CLICK
Author: Arthur Crowson
News hawk: Jus Sumguy
---
