Sources working within Absolute Poker management have told the Subject: Poker Blog that Cereus' total debt to players is $54 million. The company, however, only has $5-$6 million liquid.
The Subject: Poker Blog on Tuesday published an article which revealed that the Cereus-run sites Absolute Poker and UB Poker share a total outstanding debt to players of $53.7 million, while only having up to $6 million in cash.
The site is citing a "reliable sources" inside of AP management, who have explained that $24.2 million of this liability is to U.S players, and that this number has been artificially lowered by U.S. players "systematically moving money to non-U.S. accounts in an attempt to get their money off of the site sooner."
Both sources cited have wished to remain anonymous.
The sources have further revealed that Absolute Poker and UB Poker may have big difficulties in returning the missing players' funds, as the company currently only have $5-$6 million liquid.
The number is not believed to be exact, and takes into account around $3 million in severance pay to Cereus' Costa Rican employees.
It does not include money that was frozen when some of Cereus' bank accounts were seized on April 15th, and the company could as such still have funds tied up at the time being.
However, these funds may be impossible for
Cereus to access, as there are currently no signs of the money to be unfrozen anytime soon.
The reports published by the blog correspond well with the withdrawal issues described by players in a lengthy
thread on Two Plus Two.
Some non-U.S. players here explain how they have been able to cash out in some instances, however, only after long delays and in most cases only up to $2,000.