Blanca Gaming Files for Bankruptcy, AP/UB Future Uncertain

Blanca Gaming of Antigua, the owner of AP/UB, has filed for bankruptcy in Norway. This news has left players with little hope of recovering their funds from these poker rooms.

The four-story office of AP/UB in Costa Rica is closed, and 95% of employees (around 300 people) have been laid off. The company has been accused by the US Department of Justice of money laundering and faces a fine of around $3 billion.

Blanca Gaming of Antigua has spent half of its revenue on marketing, lost market share, and paid $10 million for its own software. The company also spent nearly $18 million on consultants in 2009 and paid 29 cents for each dollar of American players to hide the real purpose of transfers from US authorities. Despite continuing to accept American players after Black Friday, AP/UB lost 70% of its audience.