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According to a press release issued by the Kahnawake Gaming Commission (KGC) which licenses a number of online poker rooms including Absolute Poker and UB Poker, the two sites that were brought down on April 15, 2011 will likely be liquidated, with any money from the sale of assets, like the software, used to repay players who have funds locked-up on the two online poker rooms.

Here is a look at the statement released by the KGC:

(MOHAWK TERRITORY OF KAHNAWAKE – October 27, 2011) – Since the actions taken by the US Attorney’s Office for the Southern District of New York (the “SDNY”) on April 15, 2011, the Commission has been in close and regular discussions with its licensee, Blanca Games Inc. (“Blanca”), operating as Absolute Poker and UB.com (“AP/UB”), to facilitate the reimbursement of both US and non-US players. The Commission has also received regular updates of discussions between AP/UB and the SDNY.

Over the past several weeks, we were advised of a potential solution prepared by Blanca and its representatives, establishing a process to liquidate Blanca’s assets and distribute proceeds to players. We understand that this process has been presented to SDNY for consideration and approval.

The Commission’s foremost concern in this matter has been, and remains, the reimbursement of both US and non-US players, as quickly and completely as possible.

To avoid further prejudice to affected players, the Commission has demanded that all parties complete their discussions and implement a reimbursement solution without further delay.

Obviously the DOJ has yet to approve this arrangement, but with a deadline looming (the deadline was set when UB and Absolute Poker made a deal with the DOJ similar to PokerStars and Full Tilt Poker which allowed them to regain control of their domain names) something had to be done, and it appears that we are witnessing the death throes of two of the longest-standing online poker rooms, Absolute Poker and UB Poker. Hopefully players will receive more than mere pennies on the dollar for their funds that are currently locked-up on the two sites.