I recently saw that Papaya filed for Chapter 15. What is Chapter 15?
Papaya is a successful and profitable company. Recently, the company undertook a proactive and strategic series of legal steps to ensure the continuity of the business during ongoing legal proceedings. Chapter 15 is a procedural tool that allows the U.S. court to recognize and give effect to foreign proceedings in the United States, and to protect Papaya from disruptive enforcement actions.
Is Papaya going out of business?
Papaya is NOT going out of business. The Chapter 15 cases are designed to allow Papaya to continue operating its business in the ordinary course while its foreign process is pending. Papaya’s employees, management and board of directors will remain in place.
Do the Chapter 15 cases impact players’ ability to play Solitaire Cash and other Papaya games?
Papaya continues to operate as it always has. In fact, the Chapter 15 cases are designed to ensure our ability to continue delivering the high-quality, skills-based games our players know and love.
Do the Chapter 15 cases impact Papaya’s ability to pay out player earnings?
Papaya’s payment of real money earned during competition continues to function as normal. Players will continue to be able to withdraw their winnings and use the funds in their accounts as they always have, consistent with Papaya’s terms and conditions. Papaya is not seeking any orders in the Chapter 15 cases that will affect players’ ability to access, use or withdraw funds in their accounts on the Papaya platform.
Is Papaya going to be able to continue to provide skill-based in the future?
Papaya is in it for the long haul. Our mission has not changed, nor will it ever change. We will always strive to provide players with the best-in-class skills-based gaming experience.