LiveAce Poker Forced to Close

LiveAce.com, the poker site which opened last August, has suspended operations just 16 weeks after launching saying that it was no longer economically viable to remain open.

The site launched in over 30 states and offered its free-to-play-online-cash games to US residents. If players subscribed for $19.99 a month then they were able to receive more chips and place bids on daily auctions for prizes and real cash.

Andy Frankenberer, the two-time WSOP bracelet winner was signed as LiveAce’s first sponsored pro, however, just as the site was approaching its one millionth hand, it was forced to close due to high operating costs.

A statement on the LiveAce website said, “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.”

The site has said that all unused subscriptions will refunded and that accounts containing cash balances from auction will be honoured up until March 1st 2014. More information on how to claim refunds can be found on the website.