Devilfish Gaming Suspends Shares Amid Financial Woes

Despite being the UK’s highest-earning tournament poker player with around $6 million in winnings, the online poker site associated with Dave “Devilfish” Ulliott looks like it has hit choppy waters.
Established in 2007, the aim of Devilfish Gaming PLC, as stated on its website, was “to develop the “Devilfish” brand internationally, and build a multi-channel online gaming and entertainment business.”
However, the company which doesn’t accept US players has now run into financial difficulties and is now in a struggle to even stay afloat.
As well as offering online poker, Devilfish Gaming PLC also has casino, Bingo and B2B businesses, but has still been unable to turn a profit of late and suffered a £229,000 loss in late 2009. 
Consequently, the company now finds itself with money difficulties and has asked for its shares to be suspended while it clarifies its financial position. A statement issued by Devilfish Gaming Plc last week read:
“The Board is in discussions with its advisers regarding options for either selling or restructuring the Company and possible sources of new working capital.”
The company has been blighted by difficulties since its re-launch in March 2008 and its financier and largest shareholder Kevin Leech, had to retire in August this year citing “ill-health.”
Dave “Devilfish” Ulliott also remains a controversial character and one of his efforts to promote Devilfish Poker backfired badly at the Monte Carlo Millions tournament, where he placed 3rd out of 120 players for a $120,000 pay-day.
After being eliminated, Ulliott flashed a “www.devilfishpoker.com” sign to the TV cameras in contravention of Fox Sports Net (FSN) advertising policy, earning him a suspension from future FSN productions.
The future of the company now hangs in the balance and we will have to wait and see if the company is able to extradite itself from its present financial troubles.