Will players get the money they had left in their accounts when the casino shut down? Is eCogra guilty of not warning people to get their money out of the casino while there was still time? Will Microgaming step in to make sure every player gets the money owed to them? What will happen to those quality online casinos?

The license is obviously paid up for whatever part of the year is left on the lease. While I myself never really found challengecasino.com, goldenreefcasino.com, ibigcasino.com, musichallcasino.com, nostalgiacasino.com, and ukcasinoclub.com to be all that special, they weren't all that bad either. Support was pretty decent on the player side and I know the games were returning fair-odds results so all I can assume is this group had fallen on hard times after the new law was passed in the states and obviously had problems in the financial management department.

The online casinos average a payout of about 97% on all games. That means they are making money on a monthly basis and when you have a profit margin the only way you go out of business is by not managing your money properly and likely for an extended period of time.

While this really doesn't effect me directly since I moved those properties off my site long ago ... it is still shocking news. I don't think there is really another way to describe it since just a few days before eCogra announced they were revoking the seal of approval ... which oddly enough the seal still is up on the casino websites and clicking on the seal shows that the casinos are still in the "approved" state. 

Here's the odd part about all this and why it adds to existing doubt about the ... competency of eCogra. There are those in the industry who would have used much stronger words or descriptions.

Update: the failed network of MGS casinos was bought by Casino Rewards, the leading casino network on line today.