PokerStars steps in to refund the 60,000 players left in limbo after PKR’s insolvency.
On May 5th, 2017, Microgaming Poker Network released a statement expressing that PKR had applied for an administration order — beginning a procedure that protects insolvent companies from going bankrupt. MPN did all it could do: suspend PKR from offering deposits and games. Refunding the players, however, fell exclusively on PKR’s lap.
Two months later, PokerStars announced through a press release they will make players’ PKR balances available dollar-for-dollar in PokerStars accounts starting July 6, 2017. They will contact the 60,000 players by email with instructions on how to get their money into their accounts.
The minority of PKR players who don’t have a preexisting PokerStars account will just need to create one.
PokerStars does this despite having no prior relationship with PKR. The press release reads:
‘‘We’re not doing this to improve our bottom line and we are not acquiring or planning to revive the PKR software platform. We’re doing this because we think it’s the right thing to do for the poker world and to encourage others to join us in putting you, the player, first by segregating and protecting player balances from operating funds. PokerStars is proud that we’re in a position where we’re able to step in and help these players and encourage all companies in the industry to put players first.’’
Of course, PokerStars does stand to benefit from the influx of new players — many of whom have a particularly positive view of PokerStars after saving them from their PKR nightmare.
Now we want to hear from you. What do you think? Were you or anyone you know affected by PKR’s insolvency?
Will this help improve PokerStars’ image in the community? Let us know in the comment section below.
Latin American Poker and Film blogger. When I’m not playing Stud 8, I’m complaining that not many people play Stud 8.