PLANET 23 AND ROYAL APOLLO casinos, cease playing!

[belgamo]

Planet 23 and royal Apollo casinos have closed there doors. Though the casinos may still be open it is only a matter of days til offline. All player withdrawals should be okay, but I advise to QUIT immediatly if depositing at these casinos.

 

[MommyMachine]

Thanks for the heads up.

 

[givennsz]

What in the world happened, do you know Bel?

 

[idumitra]

what i have told you about Planet 23 , everyboday was laughing at me.you see now it is true.

 

[belgamo]

givennsz wrote: What in the world happened, do you know Bel?

 In simplest terms, Rival gaming the software provider has upped the Holding fee on deposits, this has caused HUGE strain on the rival casinos, some are eating the cost others are saying NO and simply closing up. 

 

[cat034]

idumitra wrote: what i have told you about Planet 23 , everyboday was laughing at me.you see now it is true. if you read my post i said go with your feelings your the depositer dont ever put your money where you dont trust

 

 

[yogi50401]

Planet23 errored by switching from TopGame to Rival. "
"
I wonder why they switched to Rival anyway? One would think they would have investigated the Rival fees and contract terms before switching ."
"
Since they already did not achieve business GOALS using one software provider, they should have assumed, nearly worst case results in their business predictions before any switch in software providers!"
"
It's almost spooky realizing the following..."
It is usually us that gets caught by A Casino term we failed to read or clarify. Perhaps "
its A bit of CARMA showing up as an ubwritten law of nature?

 

[ring657130]

What is a holding fee?

 

[Mben]

The holding fee is the percentage of a deposit that Rival, the software company, will hold for a certain period of time and then release it back to the casino eventually. So what has happened is that Rival upped the percentage and extended the hold time for a longer period. This means some of the rival casinos cannot operate or hold their own, so to say, until the deposits get released by Rival. Why did Rival up their holding fees? Looks like they are trying to recoup some losses, whatever they may be. And I don't mean paying out winning losses. The Mastercard issue and UIGEA really affected Rival in a big way.Of course, Belgamo will correct me if I am all wrong on this.

-- Edited by Mben on Wednesday 30th of June 2010 01:37:54 PM

 

[ring657130]

Ok it does explain things a bit.