PokerStars assumes financial obligations from rival PKR.
PKR Poker revolutionized online poker by being the first to use 3D technology. However, this innovative company hit a rough patch and filed for insolvency in May. This left approximately 60,000 customers in a tight spot with their credit frozen and unable to make withdrawals. Poker giant PokerStars, a subsidiary of Canadian company Amaya Group, has now stepped in to rescue these affected players.
PokerStars plans to seamlessly incorporate these PKR accounts into its gaming platform on a 1:1 basis without imposing any additional demands from the players. The players just need to set up an account and submit a verification request through customer service. The information provided will then be matched with the insolvency administrator for PKR, and their existing PKR credits will be made available in their PokerStars account.
Are Amaya considering a takeover of PKR? Officially, there are no plans for it according to the company. Instead, they state that they simply want to aid the players in need. It's a combination of doing a good deed and a strategic move to garner positive publicity. According to a PokerStars spokesperson, they're simply doing this "to do the right thing for the poker world." PokerStars is already the market leader, and they're hoping this gesture will keep some PKR players loyal while serving as a lesson for other competitors on putting customer satisfaction above all else.
"We're doing this because we think it's the right thing for the poker world. We want to encourage others to follow us in putting you, the players, first. The most important measure is separate player and business accounts. We are proud to be able to step in and help these players [i].../
Eric Hollreiser, a spokesperson for Amaya/PokerStars, expressed their sentiments by saying, "We're doing this because we think it's the right thing to do for the poker world. We want to encourage others to follow us in putting you, the players, first." PokerStars is confident that some PKR players will continue playing on their platform instead of withdrawing their funds right away. However, the company is not imposing any restrictions, such as wagering requirements or waiting periods, allowing players to withdraw their funds immediately.
PokerStars' actions are a response to the public relations disaster sparked by PKR's bankruptcy. The bankruptcy of an online gambling provider erodes the trust of players in the whole industry. To maintain the integrity of player accounts and balances is paramount. Providers must follow strict licensing requirements. Deposited guarantee sums are entrusted with licensing authorities, and player balances must be kept entirely separate from their cash flow. Despite these measures, PKR's situation demonstrates that these measures do not guarantee absolute customer safety.
These steps by PokerStars seek to restore the lost trust in online poker. It also signals to their customer base that their company is committed to the wider poker community, and they're in a solid financial position. This move can be viewed as selfless, but there's more than meets the eye. PokerStars wants to differentiate itself from its competitors who have questionable business practices, as they could potentially undermine the company's long-term success.
As far as the PKR players are concerned, they're no doubt thankful to regain access to their funds in just two months. They may have had to wait years for a resolution in a legal battle between PKR and their creditors otherwise, with an uncertain outcome.
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Source: www.onlinecasinosdeutschland.com
