31st of March 2011 Author: Glo Wood
What's up behind the curtains?
This week the industry was abuzz with speculations that a famous host of various US-oriented online bingo sites, World Bingo Network (WBN Network) is going through a tough period in terms of cash flow. What seems to have caused the problem, reportedly, was a number of strikes from underground credit card processors, which put WBN in a rather unfavorable position, especially when it comes to the resources it needs to maintain its online bingo operations live.
Speaking of which, this popular network serves some of the highly popular domains, including usabingo.com and desperatehousewivesbingo.com, but it may be in trouble if insider allegations are true, and it does face serious money issues. To make things worse, the company also seems to be left by its affiliate manager, who warned his now former customers of the issues within the company, claiming that funds were no longer available to pay for his salaries and affiliated sites balances.
Regarding all these allegations, a company representative stated: 'We incorporated two new processors - in our continued efforts to cater to US players - but this has also decreased our cash flow (it can take 6-8 weeks for the first settlements to be made).'
Whatever the reason for these issues, it is a strong reason for concern, and the development of the situation will be closely followed in the coming days.
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