Timeline of Closed Poker Rooms and Affiliate Programs
Purple Lounge – April 2012
Purple Lounge went down this year in a haze of corporate mumbo-jumbo. A press release from parent company Media Corp gave the following reasons for the closure of the Purple Lounge card room and casino:
“Trading materially behind the same period of the previous financial year which will result in increased losses for the division and, as a result, the Company as a whole.”
If you’re fluent in corporate mumbo-jumbo you might know what that means, but the rest of us were scratching our heads.
More familiar is that sinking sensation that goes with the challenges of withdrawing player funds. So far company executives are talking a good game, but it’s unlikely players will get all their money back, even now that the sites’ assets have been liquidated.
And you don’t even want to know the rest of the story.