According to Madeira Fjord of Norway, which represents the company’s shareholders, Blanca Gaming will file for bankruptcy protection in Norway. In the email, the company said they had “no cash on hand and no prospects for any cash flow for the foreseeable future.” It went on to say: “Most importantly, Blanca Gaming has provided notice … that it is currently unable to make any payments toward its debt obligations. Additionally, Blanca has further advised that there will be no future payments.”

Reported on Pokernewsreport.com

“Speculation has now arisen that players with pending pecuniary transfers may have to accept that their money is dead. Considering Absolute Poker and Ultimate bet have played host to some of the biggest and most successful names in online poker, this seems highly unfair. As has been shown with PokerStars and Full Tilt, some online players’ accounts held hundreds of thousands, even millions, of dollars. PokerStars have now begun the laborious process of returning player funds, and it is expected that Full Tilt will soon follow suite. For the other two targets of American justice, it does not seem even a remote possibility.”

So what does this mean for Rakeback Palyers?

We will have information regarding this shortly

Please bear with us.

**Update 6th May 2012**

Earlier today, Cereus’ parent company, Blanca Games, issued a press release clarifying some of the rumors. The statement says the company is restructuring with an emphasis on non-US markets. This restructuring apparently includes major downsizing:

“This decision comes after considerable review and analysis of the impact that ‘Black Friday’ has had on the business as a whole. The workforce has been liquidated, and the process of rehiring approximately 20% of staff in key positions has commenced. All affected employees have been informed of this necessary restructure.”

The statement also addressed the bankruptcy rumors that first surfaced in a Wednesday report on MSNBC. According to MSNBC, Madeira Fjord, a Norweigian investment group that represents the majority shareholders of Blanca Games, sent an email to shareholders informing them the company was filing for bankruptcy in Norway. Within the correspondence, the company said that Blanca Games informed them it was currently unable to make payments towards its debt and would not be able to do so in the future.

The statement from Blanca emphasizes that the company is not filing for bankruptcy. The statement explains, “that Blanca recently informed a debt holder,
Madeira Fjord, that it was terminating debt payments to, and its relationship with them. As a result, Madeira Fjord apparently filed a notice of bankruptcy in Norway. This notice has no negative impact upon Blanca, the operating company, or its brands. As stated previously, Absolute Poker and UB continue to operate their non-U.S. facing business around the world.”

The statement also provided news for non-US players looking to withdraw. The site is upping the withdrawal limit from $500 a week to $1,000 a week for Visa withdrawals. Those withdrawing via other methods will have a $500 limit.

For US players looking for cashout answers, the statement only said that the company is still working with the Department of Justice to iron out a plan to return money to its US customer base. There was no indication whether any of these financial issues or downsizing will impact the company’s ability to reimburse customers.

Whilst the US is rocked by Black Friday over here in the UK Rakeback.co.uk is providing you with great promotions like the Absolute Poker iPad2 Giveaway. If we had a middle name it would be added value as that is what we bring each and every month to all of our Rakeback Poker players at Absolute Poker. If you are looking to sign up to a new poker site then make sure you check out what our Rakeback deal is at that site first. For now though, here are the details of May’s Absolute Poker iPad2 Giveaway.

Total Prize Fund:

iPad2

Dates Of Promotion:

1st April 2011 to midnight on the 30th September 2011

Further Details:

Qualification for an iPad is straight forward:
New Players
Rake Target: $3,000
Dates: 6 Months (Between 1st April 2011 to midnight on the 30th September 2011)
Prize: iPad 2
Existing Dormant Players
Rake Target: $3,000
Dates: 6 Months (Between 1st April 2011 to midnight on the 30th September 2011)
Prize: iPad 2
(If you are a dormant rakeback player and eligible for this prize we will have sent you an email.)

Terms and Conditions:

The data we used is based on the 24 hour reports we get from the poker room. Players who finish in winning positions on our leader board will receive their prizes direct to their poker account on or before the 15th day of the following month. This Promotion is run in conjunction with 1 other affiliate.

That ties up all the finer details you need to know about the Absolute Poker iPad2 Giveaway. If you want that bit extra when you play online poker then you need a rakeback deal and more importantly you need one from a great provider like Rakeback.co.uk where you get the biggest added value promotions like our rake races and freerolls at Absolute Poker.

If you have yet to find yourself a rakeback deal or want to know a bit more about playing poker at Absolute Poker then click here to read the review and also see details of how to sign up and enjoy great promotions like these.

Thank you for your patience on this.

The clocks have now changed and your home of rakeback has some awesome promotions including our Absolute Poker $60,000 Rake Race. If you play your poker at Absolute Poker then you can take advantage and enjoy some great added value on top of your regular poker play. There are few better ways to get more from online poker than having a Rakeback deal so check out all of ours here at Rakeback.co.uk.

Total Prize Fund:

$60,000

Dates Of Promotion:

Race 1: 1st April 2011 to midnight on the 15th April 2011
Race 2: 16th April 2011 to midnight on the 30th April 2011

Further Details:

Finish in the top 275 rakers at Absolute Poker or UB during the qualifying periods and win a share of $60,000

Terms and Conditions:

The data we used is based on the 24 hour reports we get from the poker room. Players who finish in winning positions on our leader board will receive their prizes direct to their poker account on or before the 15th day of the following month. This Promotion is run in conjunction with 1 other affiliate.

The UK poker scene is firing on all cylinders at the moment and for those players looking to make the most of their time online it is all about rakeback and getting that extra cash. With added value promotions for Rakeback Poker players like the Absolute Poker $60,000 Rake Race you enjoy a little bit more for your money. Sign up at Absolute Poker today and you can start playing in our monthly promotions. To read the review and sign up simply click here

The clocks have now changed and your home of rakeback has some awesome promotions including our Absolute Poker iPad2 Giveaway. If you play your poker at Absolute Poker then you can take advantage and enjoy some great added value on top of your regular poker play. There are few better ways to get more from online poker than having a Rakeback deal so check out all of ours here at Rakeback.co.uk.

Total Prize Fund:

iPad2

Dates Of Promotion:

1st April 2011 to midnight on the 30th September 2011

Further Details:

Qualification for an iPad is straight forward:
New Players
Rake Target: $3,000
Dates: 6 Months (Between 1st April 2011 to midnight on the 30th September 2011)
Prize: iPad 2
Existing Dormant Players
Rake Target: $3,000
Dates: 6 Months (Between 1st April 2011 to midnight on the 30th September 2011)
Prize: iPad 2
(If you are a dormant rakeback player and eligible for this prize we will have sent you an email.)

Terms and Conditions:

The data we used is based on the 24 hour reports we get from the poker room. Players who finish in winning positions on our leader board will receive their prizes direct to their poker account on or before the 15th day of the following month. This Promotion is run in conjunction with 1 other affiliate.

The UK poker scene is firing on all cylinders at the moment and for those players looking to make the most of their time online it is all about rakeback and getting that extra cash. With added value promotions for Rakeback Poker players like the Absolute Poker iPad2 Giveaway you enjoy a little bit more for your money. Sign up at Absolute Poker today and you can start playing in our monthly promotions. To read the review and sign up simply click here

The clocks have now changed and your home of rakeback has some awesome promotions including our Absolute Poker $15,000 Freeroll. If you play your poker at Absolute Poker then you can take advantage and enjoy some great added value on top of your regular poker play. There are few better ways to get more from online poker than having a Rakeback deal so check out all of ours here at Rakeback.co.uk.

Total Prize Fund:

$15,000

Dates Of Promotion:

1st April 2011 to midnight on the 30th April 2011

Further Details:

The freeroll will be held on Sunday 22nd May 2011 at 20:00 BST (15:00 ET, 19:00 GMT)

Terms and Conditions:

New Players: Rake $1 at Absolute Poker or UB during the qualifying period and you will get automatic entry to the Freeroll.
Existing Players: Existing players rake $100 at Absolute Poker or UB during the qualifying period

The UK poker scene is firing on all cylinders at the moment and for those players looking to make the most of their time online it is all about rakeback and getting that extra cash. With added value promotions like the Absolute Poker $15,000 Freeroll you enjoy a little bit more for your money. Sign up at Absolute Poker today and you can start playing in our monthly promotions. To read the review and sign up simply click here

It is March which means we are now officially out of winter even if doesn’t seem like it. Rakeback Poker can warm themselves up with this fantastic $60,000 Rake Race exclusively for our Rakeback players. Rakeback.co.uk loves rewarding our Absolute Poker players with fantastic promotions so sign up at Absolute Poker today.

Total Prize Fund:

$60,000

Dates Of Promotion:

Race 1: 1st March 2011 to midnight on the 15th March 2011
Race 2: 16th March 2011 to midnight on the 31st March 2011

Further Details:

Finish in the top 275 rakers at Absolute Poker or UB during the qualifying periods and win a share of $60,000

Terms and Conditions:

The data we used is based on the 24 hour reports we get from the poker room. Players who finish in winning positions on our leader board will receive their prizes direct to their poker account on or before the 15th day of the following month. This Promotion is run in conjunction with 1 other affiliate.

Rakeback.co.uk is the leading rakeback specialist in the UK providing our players with the latest Absolute Poker news, promotions and more as well as unbeatable Rakeback deals across all the best poker sites.

We have many more promotions here at Rakeback.co.uk for our rakeback poker players on top of this Absolute Poker $60,000 Rake Race.

If you want to sign up at Absolute Poker then check out our review by clicking here: Absolute Poker.

It is March which means we are now officially out of winter even if doesn’t seem like it. Rakeback Poker can warm themselves up with this fantastic $15,000 Freeroll exclusively for our Rakeback players. Rakeback.co.uk loves rewarding our Absolute Poker players with fantastic promotions so sign up at Absolute Poker today.

Total Prize Fund:

$15,000

Dates Of Promotion:

1st March 2011 to midnight on the 31st March 2011

Further Details:

The freeroll will be held on Sunday 24th April 2011 at 20:00 BST (15:00 ET, 19:00 GMT)

Terms and Conditions:

New Players: Rake $1 at Absolute Poker or UB during the qualifying period and you will get automatic entry to the Freeroll.
Existing Players: Existing players rake $100 at Absolute Poker or UB during the qualifying period

Rakeback.co.uk is the leading rakeback specialist in the UK providing our players with the latest Absolute Poker news, promotions and more as well as unbeatable Rakeback deals across all the best poker sites.

We have many more promotions here at Rakeback.co.uk for our rakeback poker players on top of this Absolute Poker $15,000 Freeroll.

If you want to sign up at Absolute Poker then check out our review by clicking here: Absolute Poker.

We recommend that if you wish to use your Loyalty Points you should do so before this change of policy is introduced on March 1st as any Loyalty Points spent after this date will negatively impact on your rake.

The UK economy may have experienced a bit of a dip but here at Rakeback.co.uk February is full steam ahead with this $15,000 Absolute Poker Freeroll.

Total Prize Fund:

$15,000

Dates Of Promotion:

1st February 2011 to midnight on the 28th February 2011

Further Details:

The freeroll will be held on Sunday 27th March 2011 at 20:00 BST (15:00 EST)

Terms and Conditions:

New Players: Rake $1 at Absolute Poker or UB during the qualifying period and you will get automatic entry to the Freeroll.
Existing Players: Existing players rake $100 at Absolute Poker or UB during the qualifying period

Rakeback.co.uk is the leading rakeback specialist in the UK providing our players with the latest Absolute Poker news, promotions and more as well as unbeatable Rakeback deals across all the best poker sites.

We have many more promotions here at Rakeback.co.uk for our Rakeback Poker players on top of this Absolute Poker $15,000 Freeroll.

If you want to sign up at Absolute Poker then check out our review by clicking here: Absolute Poker.

The UK economy may have experienced a bit of a dip but here at Rakeback.co.uk February is full steam ahead with this $60,000 Absolute Poker Rake Race.

Total Prize Fund:

$60,000

Dates Of Promotion:

Race 1: 1st February 2011 to midnight on the 14th February 2011
Race 2: 15th February 2011 to midnight on the 28th February 2011

Further Details:

Finish in the top 275 rakers at Absolute Poker or UB during the qualifying periods and win a share of $60,000

Terms and Conditions:

The data we used is based on the 24 hour reports we get from the poker room. Players who finish in winning positions on our leader board will receive their prizes direct to their poker account on or before the 15th day of the following month. This Promotion is run in conjunction with 1 other affiliate.

Rakeback.co.uk is the leading rakeback specialist in the UK providing our players with the latest Absolute Poker news, promotions and more as well as unbeatable Rakeback deals across all the best poker sites.

We have many more promotions here at Rakeback.co.uk for our Rakeback Poker players on top of this Absolute Poker $60,000 Rake Race.

If you want to sign up at Absolute Poker then check out our review by clicking here: Absolute Poker.