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PINNACLE ENTERTAINMENT SUCCESSFULLY BIDS FOR FS AND G
Friday June 15, 2012 : PINNACLE ENTERTAINMENT SUCCESSFULLY BIDS FOR FS AND G (Update)
Major creditor wins in bankruptcy bidding…but the legal scrapping is not over yet
The court-ordered bankruptcy auction of Federated Sports & Gaming, Inc., parent of the Epic Poker League, was won Thursday by Pinnacle Entertainment, Inc. with a winning bid of $4.5 million for the combined assets of Federated Sports & Gaming, Inc., Federated Heartland Inc., the Heartland Poker Tour and the Epic Poker League.
Pinnacle was one of the largest creditors of the failed company, owed around $2.1 million, which it loaned FS&G earlier this year. There is speculation that the company will offset the loan debt against the purchase price, although that has not been confirmed.
The new owner has yet to publicly announce what it plans to do with the acquisition, but it appears certain that further litigation will take place involving other creditors, who are also owed large sums of money by FS&G.
Over $8 million in debt was accrued in FS&G's short life, during in which it generated only around $50,000 in revenues.
Among the more interesting information disclosed in the court proceeding was the fact that FSG registered more than 400 domain names, many of them apparently irrelevant to its activities.
Ironically, one among these was epicpokerfailure.com!
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
Money Storm Casino -
Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.
Big Online SLot Win on Ultimate 10X Slot -
At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000
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