Pharaohs Poker Palace Closes its Doors - 04-10-08

April 10 - As tough as the online gambling industry might be, it is always sad to read about a site that was forced to close down. The most recent loss of a poker site was this week, when Pharaohs Poker Palace closed its doors to the public for business.

Pharaohs Poker Palace, a stand-alone site that uses proprietary software, was established in Gibraltar in 2005 by GDL Direct Ltd. It was not linked to any network and did not share its customer base with others. In the two months leading up to the closure, there were, of course, signs of problems. Players remarked on public poker forums that they were having trouble reaching the site, that communication was slack and that payouts were being delayed.

Suspicions were confirmed early this week, however, when players logged into Pharaoh Poker Palace's site, to be greeted by the following message: "PharaohsPokerPalace is closing its doors. If you have made a real money deposit with any method other than credit card, your deposit will be returned to you up to the amount of your actual deposit, after taking into account credits, balances or losses. This applies only to real money depositing players and only on actual deposits. If you have made a deposit by credit card then instructions have been sent to you already on how to recoup your funds."

In recent months, Pharaohs Poker Palace was offering what they claimed to be the highest rakeback percentage in the industry - 60% and even went as high as 70% for a short period of time.

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