AintLuck.com

Cake Poker Network Granted Malta Class 4 License

by AintLuck.com Poker Team on November 15, 2010

The Cake Poker Network is pleased to announce that its recently established company in Malta has been granted a Class 4 Letter of Intent by the Malta Lotteries and Gaming Authority and, as such, is ready to commence Network operations.

In addition, Cake’s newly formed Malta operating company has now successfully completed Phase 1 of the application for a Class 3 License; Phase 2 is underway and the Class 3 LOI is scheduled to be provided on December 3rd.

The first partner to leverage this new licensing capability will be Power Poker. Players currently on PowerPoker.com will be given the option to move their accounts over to the Malta-licensed Cake operations where they will be able to take advantage of the favorable tax treatment afforded to an EU licensed operator.

Through the formation of this new European division, the Cake Network is now able to offer current and future network partners the option of being regulated by Malta, or under Cake Gaming’s license in Curacao.

This move further enhances the Cake Network’s European presence by building on the resources and services that have successfully captured a significant worldwide market share of the white label poker market.

Cake Network will offer its European network partners the same successful business models it is currently operating including options for turnkey/intermediary or integrated solutions. In Europe the Cake Network will continue with its pure business-to-business model, where the partners will each operate their own card room. The integrated partner solution is available to operators who have their own player management and fund management systems and procedures. In the case of partners requiring a complete solution including cashier services, the turnkey/intermediary partner solution will be offered by the Cake Poker operating company in Malta via the Class 3 license.

Cake Network, Director of Marketing, Andrew Turner notes,

“We are excited about being in a position to offer our future and existing partners, like Power Poker, licensing through the Malta Lotteries and Gaming Authority. This will greatly assist partners as they undertake further marketing within the European region and allow existing European White listed operators the opportunity to take advantage of the Cake Network’s suite of services.”


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