16% of their initial funds were given back to punters, who couldn’t access their accounts after the failure of Tusk online poker group, six years ago.
The sudden failure of Tusk group left players with unpaid obligations of millions of dollars. The reported figure is about $5,3 million. The case of this online casinos in Australia started zealous debate and led to partial reimbursement for the unlucky punters in 2013. The liquidation process gave back $800,000 and players got around 5 cents on the dollar.
Most of the punters were not happy with the amounts that were paid back, saying that they are only 16% of their old balances before Tusk shrunk. However, the reimbursement was a surprise, which came handy during the holidays.
eCogra and Microgaming also involved in the case
Tusk Investment group, powered by Microgaming and tested by eCogra was founded in 2001. It consisted of 28 Australian poker rooms and six online casinos. Its failure in 2008 came without any notice and its liquidation is considered to be the first major online poker collapse.
Both eCOGRA and Microgaming were involved in the discussions regarding the consequences of the crash, as they have cancelled the company’s accreditation and licensing for failing to comply with Australian gambling laws, prior to the major collapse.