The Demise of Purple Lounge
The new management of Media Corporation plc, owners of Purple Lounge, have finally said something about the collapse of…
MediaCorp PLC has finally appointed a liquidator for defunct subsidiary Purple Lounge. The announcement was made in the…
Even though newly-acquired Entraction serviced US customers pre-UIGEA, and its skin Purple Lounge is failing to repay players, IGT takes the next step towards being licensed in Nevada.
All staff laid off, business liquidated and player losses are expected as Media Corp admits to “historical operational financial failings” at Purple Lounge.
LGA says it will not help players with money stuck on Purple Lounge—because the license was terminated at the same time the site first went offline.
The failure of Purple Lounge will do yet more damage to the perception of online gaming in the eyes of the public. Shareholders, the media and regulators both offshore and in the London Stock Exchange must demand that Media Corp satisfactorily and promptly resolves the issue.
The casino and poker room are abruptly taken offline without warning, and customers have yet to be told how they can withdraw balances.