According to a message posted on its website, the US-facing, subscription-based online poker room LiveAcehas suspended operations: “We have worked tirelessly over the past two years to bring competitive, legal, rake-free online poker to the US. Unfortunately, despite support from our passionate user base, we haven’t been able to generate revenue sufficient to cover our operating costs.”

Cash redemption requests on LiveAce will continue to be accepted until the first day of March and unused Club Live memberships and chip packages will be reimbursed. Refunds can be claimed by mailing LiveAce at the address posted on its website and including your user name, first and last name, mailing address, e-mail address, and preferred method of payment, the latter of which is a choice between the e-commerce site Dwolla and a mailed check.

According to LiveAce, “We will make every effort to process requests within 4-6 weeks.” An article found on US Poker’s website added, “Chips that were never redeemed in auctions are not addressed in the statement. It would appear that those chips are now worthless.”

LiveAce launched in August and its CEO is Adam Stein-Sapir. Its first site pro was World Poker Tour Season IX Player of the Year Andy Frankenberger and, according to US Poker, there were a bevy of changes made recently in what appeared to be an attempt to keep the site afloat.

“The site changed some policies in the past two weeks in an attempt to keep its doors open,” US Poker outlined. “On December 6, the site changed its policy on how basic members could receive additional chips. These players that opted to not pay the monthly $19.99 membership fee could only reload chips once per week instead of the previous once per day. The most controversial change of policy came on December 13. That was when the amount of cash paid to players through auctions dropped from $500 on weekdays and $1,000 on weekends to just $200 per day. This policy change was instituted without any notice to players.”

As recently as 10 days ago, PokerNews published an article outlining the benefits of playing on LiveAce, which included a “unique cash auction system.” PokerNews detailed, “LiveAce has created a unique auction system where they offer a cash pool of up to $1,000 every day for players to bid on. In the daily cash auctions, typically more than 50% of participants win cash.”

LiveAce accepted players from 31 states. Legal and regulated rake-based online poker is available to players located in Nevada, Delaware, and New Jersey.

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