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Action Poker Network does not Playsafe with licensee!

by Thomas Jensen on Friday, August 31st, 2007

Action Poker Network does not Playsafe with licensee!A Point-Spreads.com source claims that Playsafe Holdings AS owe at least one licensee $16,518.00 in rake and poker players of the licensee to the tune of $55,314.17 since March 2007. Besides the apparent stiff job, Playsafe Holdings allegedly continued to run the licensee’s poker room after it was supposed to be closed in March 2007 and stopped sending reconciliation reports after closing off the licensees access to the admin panel.

The licensee in question did not not choose to join the Action Poker Network. Playsafe Holdings AS bought the US facing assets of LasVegasFromHome.com (LVFH), the poker network the licensee was already on. Once the deal was announced, the licensee decided to move to another competing poker network.

ActionPoker.com is 100% owned by Playsafe Holding AS, a internet gaming investment company based in Norway. Playsafe is listed on the Norwegian OTC under the stock symbol PLAY and services such poker brands as Nine.com, Youwager.com, English Harbor Poker and JimFeistPoker.com.

It states on their poker website that:

“At ActionPoker.com, nothing is more crucial than integrity and security. Players trust us with their funds, and we strive to ensure that our games are 100% trustworthy, secure from both outside interference and irregularities during play. ActionPoker.com has set the standard for speed and integrity when it comes to cashing out. Payouts to winners will be prompt.”

Somehow the poker players and licensee in question do not believe this statement! Another source told Point-Spreads.com that Playsafe’s business model is moving away from licensees to focus on in house brands such as ActionPoker.com.

“It seems as though Playsafe is trying to grab poker players,” stated another Point-Spreads.com source close to Playsafe. “Doing this ends up causing them to screw their licensees and potentially unknowing poker affiliates.”

“We are working on getting payments resolved,” stated APN Licensee Manager Jeremy Brenes by email to us earlier this month. This is the same response the licensee has been receiving for months. To date, no funds have been dispersed.

Emails to Ben W. Johansen, COO of Playsafe Holdings AS went unanswered and we have learned that company CEO Mats Johnson has apparently left the company, despite still being listed on the corporate website. Point-Spreads.com will continue to monitor this situation as it unfolds.

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