Purple Lounge Casino to be Liquidated

Since the Purple Lounge Casino site stopped working there have been lots of rumours and fears about whether it would start back up and whether the players would lose all or some of their balances.

After a long silence, the company behind the online casino (Media Corp plc) finally released a statement at the end of last week. In their statement they confirm that the Purple Lounge Casino site is going to be liquidated.

Past Corporate Failings Regretted

Adam Fraser-Harris and Phil Jackson are the executive managers for Media Corp and they said that the firm “regrets any corporate failings” which happened in the past. They also assured shareholders that the board of the company is “exploring routes” to try and cut down on the losses they expect their players to suffer because of the failure of the site.

The statement also confirmed that the liquidators they appoint will have the job of reviewing the situation as regards to the player funds which were in their system at the time the site was put out of business.

They hope that the group will not suffer any further losses associated with the ill fated online casino and they expect to release further statements as the matter progresses.

This statement has at least broken some of the silence on the subject but at the moment it doesn’t really help out any of the Purple Lounge Casino players whose money is still to be returned to them. Time will tell whether they can recover all, or at least some, of their cash.