In an interview with Pokerfusethat was published on Monday, former Lock Poker rep Shane Bridges claimed it was unlikely that players would be paid out any time soon: “I never had access to any real financials,” Bridges said, “but with no significant movement on cashouts and promises of the big turnaround now being 12 months old, it would be my assumption that player balances won’t be honored now.”
Lock Poker players could be due as much as eight-figures according to one estimate on Two Plus Two, but whatever the real number is, Bridges said several macro factors plagued the business: “The aggressive low-margin marketing of Lock couldn’t be sustained with the constant network changes and growing processing problems in the industry.”
Bridges also singled out an extravagant way of life that included “first class flights everywhere for [Lock Poker CEO] Jen [Larson] and [programmer] Brendan [Young]” as well as “insane boutique five-star hotels everywhere.” In mid-2013, Bridges claimed he had lost all hope and said it was his belief that the “company had pretty much been completely erased.”
As to the hierarchy of how cashouts were processed, Bridges told Pokerfuse, “Regular players were always given preferential treatment in the cashout process, whether it was good times or bad. It’s been so long since significant cashouts were actually processed I couldn’t actually say how far along it was that [Larson] was still making those promises.”
According to an article from FlushDraw that was published this month, Lock Poker has not processed any withdrawals since April of last year. It added, “Lock Poker has failed to process nearly $1 million is reported cashouts and owes at least another $2 million in player balances.” However, the site continues to operate.