Cake Poker Licensed in Malta?

Power Poker.com the first to transfer Malta Lotteries and Gaming Authority has granted Class 4 Letter of Intent to the Cake Network online poker network, enabling it to initialize Network operations. Apart from this one, Cake has also managed to complete Phase 1 of the application for a Class 3 License, whereas it is still in Phase 2, and it is to acquire the Class 3 LOI on December 3rd. Power Poker will be the first partner to convert, and at the moment the site offers its players the possibility to move their accounts over to the Malta-licensed Cake operations where they can benefit from the favorable tax treatment granted to an EU licensed operator. According to Cake spokesman, this new licensing in Malta will add to the Cake Network's European presence, as it will exploit the resources and services that have already seen success in the worldwide white label poker market. “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,” said Cake Network Marketing Director Andrew Turner.