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If a report on the pocketfives.com website is to be believed, the liquidation of the Cereus Poker Network (made up of UB Poker and Absolute Poker) could see enough of a cash infusion to repay the thousands of players who currently have money locked in their Cereus Poker accounts –unfortunately it appears that these players will only receive pennies on the dollar for their account balances.

The article cites two reliable sources within Absolute Poker and UB Poker as saying that Blanca Games, the parent company of the Cereus Poker network, is going through with the liquidation they proposed, which would see players at Absolute Poker and UB Poker receive in the neighborhood of $.15-$.20 on the dollar for their account balances. The article goes on to say that the payments would be made over time and the exact method is still unknown.

Although nobody likes taking an 80% hit on their money, the fact that there is any payout coming from the beleaguered online poker sites is likely to be seen as good news –it also makes all of those people willing to pay between $.10-$.20 on the dollar for players’ UB and Absolute Poker account balances in the days following Black Friday look like quite the prognosticators!

These reports are all in the preliminary stages, and as we have seen with Full Tilt Poker, advancements on these fronts can take quite a long time, with little in the way of updates for the affected players. We’ll keep you posted on any future developments on this front.