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EPIC POKER LEAGUE FINANCES IN POOR SHAPE

04/06/2012 : NEW DISCLOSURES SHOW THAT EPIC POKER LEAGUE FINANCES IN POOR SHAPE
 
A spectacular failure after only 14 months of operations
 
New financial filings on April 3 show that the Epic Poker League's parent company, Federated Sports and Gaming, financial situation is worse than was first indicated in its February 28 bankruptcy disclosures, which recorded 100 creditors and debts of $5 million.
 
Card Player reports that the new filings show that FS&G has almost $8 million in liabilities, and earned only $37,052 in income over its 14 month existence.
 
Between November 29, 2011 and February 29, 2012, the company paid vendors more than $2.4 million, whilst its officials received more than $1.1 million.
 
The payments included $299,784 to Annie Duke; $226,652 to Jeffrey Pollack; $181,062 to Daniel Goldberg; Jeffrey Grosman got $216,666 and Michael Brodsky $166,666.
 
There are also large amounts claimed, but not paid, to these company officials.
 
Pinnacle Entertainment appears to be the principal creditor at $2,093,447, whilst Card Player points out that FS&G's published liabilities do not include any equity financing the company may have received.
 
"With the new filings, the bankruptcy court approved an extension to fund the operations of the businesses through April," Card Player notes.



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$400k Winner at Bodog Casino - To win, you need to get a pair of Tens or better. Jerry K., however, got a much higher hand than the minimum; he pocketed $397,879 after landing the game’s best possible hand: a royal flush.

NBA : Warriors Win the West; NBA Finals Next - The Golden State Warriors will play in their third-straight NBA Finals. They completed their sweep of the San Antonio Spurs Monday night, rolling to a 129-115 victory as 12-point road favourites; Golden State opened the season as a –250 chalk to win the Western Conference.

Iforium In Partnership With Booming Games - Iforium, the leading provider of casino aggregation software, are pleased to announce a new agreement with Booming Games

PartyPoker Rakebak - Partypoker brings back rake back for players. All new ‘partypoker weekly Cashback’ launches.

NHL Odds: Lone Canadian Team Plays on Friday - “Stingy” is a word that many have used to describe the Ottawa Senators in Round Three. The Sens know that they’re overmatched against a Pens lineup that features the likes of Sidney Crosby, Evengi Malkin and Phil Kessel, but with determined defensive play, Ottawa managed to frustrate the Penguins on their home ice, stealing one of two games.

NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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