The Lotteries and Gaming Authority of Malta has suspended the license of Microgaming skin 5050 Poker and has set up a complaints procedure for players owed money. 593c6p
Players with money on 5050 should email the LGA with the information outlined in their press release.
The Microgaming poker room then terminating its software license, claiming “material breach of its contract.”
When the site went offline, all withdrawals on 5050 Poker were halted. It later Microgaming.
The last published s for 5050 Poker Holding AB show 1704 players who have played at least once in the last 3 months, with player balances of SEK 5.7m ($810k USD). The company’s Current Assets are listed at over SEK 7m. However, during liquidation, players rank no higher than other creditors, so if the company liquidates and the assets and liabilities do not match, then players may not get a proportion of their money back.
The LGA has been at the center of multiple controversies in the last six months, having been the primary regulator of LGA has failed to provide protection for players or aid in satisfactory dispute resolution.