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Creators of Epic Poker League files for bankruptcy

Tags: bankruptcy, epic poker league, Federated Sports + gaming
Posted on Monday, March 05, 2012 by "T".
Last January, Federated Sports + Gaming entered the poker scene by launching Epic Poker Tour, a tournament series that attracts some of the world's best poker players. Last Wednesday, a little bit more than a year after the launch of Epic Poker Tour, the company has announced on its website that it has filed for Chapter 11 bankruptcy. In a letter posted on the Federated Sports + Gaming website[...]   Read more » Creators of Epic Poker League files for bankruptcy

  5-Mar-12, 11:53   #1
Creators of Epic Poker League files for bankruptcy 0 
Fakiry 

Joined: Apr '09
Location: Portugal
Age: 37 (M)
Posts: 4764
They announced bankruptcy but they want to keep this project alive so they are reorganizing themselves… Does this means there were problems between partners? Can’t find another explanation for this.

     
  5-Mar-12, 14:42   #2
  0 
MicroMachina 

Joined: Aug '08
Location: Canada
Age: 36 (M)
Posts: 657
This League was the laughing stock of the poker world.

They blew thru all there sponsor money in guarantees and then promised to have a 1 million $ freeroll. Which is likely why they are filing for bankruptcy. Because some players qualified and they "rescheduled" the game but now they broke its def "rescheduled" for never. Some people think Annie Dukes business plan may have depended on Howie L to float her some cash to make this "league". Since she used her sponsorship money up on incentives maybe howie was gonna promote the freeroll? idk. All i know now is they think they gonna be rich as thieves pushing this crap on Facebook.

They lying scoundrels and lost alot of cred in the poker world when they went south with that freeroll. Guys were playing big events just to qualify and now have nothing but pee pee in hand...

     
  5-Mar-12, 15:17   #3
  0 
rv 

Joined: Dec '08
Location: Latvia
Age: 26 (M)
Posts: 47
Epic failure

     
  5-Mar-12, 19:56   #4
  0 
pochui 

Joined: May '08
Location: Lithuania
Age: 32 (M)
Posts: 8638
epic bankruptcy...probably mistakes were made in management level- really not a very epic league at all, not enough commercial interest in it, not enough publicity, questionable decisions (like the mentioned freeroll) i guess they just were epic managers...good luck anyway

     
  5-Mar-12, 20:35   #5
  0 
TheMachineQC 

Joined: Apr '10
Location: Canada
Age: 27 (M)
Posts: 2110
We all knew that was gonna happen! I didn't think so soon though Big Smile

Truly epic failure, they didn't even try to broadcast on TV??

     
  5-Mar-12, 20:35   #6
  0 
Macubaas 
Joined: Apr '11
Location: Romania
Age: 27 (M)
Posts: 6668
This thing never was really that big so there is no surprise that they busted evetually...

So with other words there is no big surprise here and i'm sure there were some management mistakes indeed in the process.

     
  5-Mar-12, 23:32   #7
  0 
Greenmohave 

Joined: Jan '11
Location: United States
Age: 52 (M)
Posts: 3361
I've always been a believer that a good, hard working management team that has established a good business plan and establishing goals that can be met one step at a time can run a profitable business. I'm not saying I could do it since it takes a team that's willing to sacrifice the first 5 years before anyone is allowed to live like they're wealthy then, you learn what one is entitled to. Hope you pull through it!

     
  6-Mar-12, 06:15   #8
  0 
Zxanthion 
Joined: Mar '10
Location: United Kingdom
Age: 42 (M)
Posts: 41
Looks like Negreanu had it all figured out after all.

     
  8-Mar-12, 01:11   #9
  0 
Regu_1_Lator 
Joined: Feb '12
Location: United Kingdom
Age: 27 (M)
Posts: 2
How could they think this was going to work?!

     
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