Cake Network Gets European License
Moving to expand its network of online poker sites deeper into Europe, the Cake Network has announced that a branch of its operations newly established in Malta has received a “Class 4 Letter of Intent” by the Malta Lotteries and Gaming Authority and is now set to begin network operations on the Continent.
With this new European division, the Cake Network can now offer network partners (both present and future) the option of either being regulated by Malta, or under Cake’s existing license in Curacao.
The first Cake partner to utilize this new licensing option will be Power Poker. PowerPoker.com players will now have the option to “move their accounts over to the Malta-licensed Cake operations where they will be able to take advantage of the favorable tax treatment afforded to an EU licensed operator.”
“This move further enhances the Cake Network’s European presence by building on the resources and services that have successfully captured a significant worldwide market share of the white label poker market,” the company announced in a news release. The release went on to explain that European network partners would be offered the same business model currently in use, “including options for turnkey/intermediary or integrated solutions.”
“We are excited about being in a position to offer our future and existing partners, like Power Poker, licensing through the Malta Lotteries and Gaming Authority,” said Cake Network Director of Marketing Andrew Turner. “This will greatly assist partners as they undertake further marketing within the European region and allow existing European White listed operators the opportunity to take advantage of the Cake Network’s suite of services.”