Interactive Playnet first lowered the jackpots, then stopped taking deposits stating “This is very unfortunate and totally beyond our control. We have not shut down the network at the moment, however, we have suspended the deposit page and cut bingo pots”. However, before long the company froze all operations, “Due to the size of the funds and the seriousness of how this affects us operationally”.
Richard Chambers - company CEO - stated, “It is sad when you see something like this happen”. Even so, as Chambers states, the reason for an operators’ failure cannot always be blamed upon the economy; “some have been fraudulent and others as is the case with Interactive Playnet, a simple issue of mismanagement.” Without doubt, while the current economic turbulence continues, now is not a good time for management errors.
The “YouGotBingo” Bingo Entertainment Network includes several websites for American players. It seems the Swedish Company who have now purchased Interactive Playnet were slower to do so; due to legal concerns with regards to accepting American depositors.
The company planning to create a European operation using the Interactive Playnet software. Interactive Playnet Chief Operating Officer Nigel Simmons blames the shut down upon the “unpredictable and turbulent” nature of the current American market. In particular the “complicated legal issues surrounding this area of online gaming”. Adding, it was understandable that the new company, did not “ wish to continue accepting American depositors.” All we need to know now is who the mystery Swedes are : )
This was an article by LJ for Bingo faces about Interactive Playnet
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