AP/UB Not Filing Bankruptcy, Will “Continue to Operate” Outside U.S.

All right, so it may not be all smiles in the offices in Costa Rica, but it's not bankruptcy yet either.

Interesting press release just dropped from AP/UB.

In it, the company announced its plans to structure and focus its business efforts outside of the U.S. It all addresses rumors about the company filing bankruptcy, which it claims is inaccurate.

For player cash-outs, the release says:

For non-U.S. players, Absolute Poker and UB have increased their maximum withdrawal limits to $1000 for Visa withdrawals and $500 for all other methods.  The number of transactions being processed per day has been significantly increased as well.  Players are still restricted to one transaction per week, but we are working to return non-U.S. withdrawals to normal service levels as quickly as possible.

If all of the above is true, and the company continues to (albeit very, very, veeeeerrrrryy slowly) work to get U.S. players their cash back, they may end up in a better spot than Full Tilt, who are rumored to be in a world of hurt right now.

Will be interesting to follow.

Read the AP/UB statement in full here. For a really intriguing breakdown of the AP/UB situation, read ElevenGrover’s 2+2 entry here.

 

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