PowerPoker.com Takes Advantage of Cake Poker Malta Class 4 License
One of the premier jurisdictions for online gambling websites and Internet poker rooms, Malta, has granted the Cake Poker network a Class 4 license, with PowerPoker.com the first to take advantage.
The Class 4 Letter of Intent by the Malta Lotteries and Gaming Authority will allow Cake Poker to commence Network operations in the country of Malta after recently setting up an office in that jurisdiction.
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.
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.
The new relationship allows for Cake Poker partners to become regulated by the Maltese government.
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.”
- Gambling911.com Staff
