It's been four months since LiveAce Poker debuted online and it is already shutting its virtual doors due to a lack of profit to cover operational expenses.
LiveAce promoted itself as unique in that it offered rake-free cash games and gave players the ability to sell chips for cash during daily auctions.
The operator and CEO, Adam D. Stein-Sapir, did his research and only offered gaming services to states with sweepstake laws which included more than half of the United States; however this was not enough to generate the necessary income to support operational costs.
LiveAce will work with its players on cash claims related to unused subscriptions and the purchase of auctioned chips until March 2014.
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