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Creators of Epic Poker League files for bankruptcy

Tags: bankruptcy, epic poker league, Federated Sports + gaming.
Posted on 05 March 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, Executive Chairman Jeffrey Pollack explained:

"There is no easy way to say this, but, at the end of the day yesterday, Federated Sports + Gaming filed for Chapter 11 bankruptcy. Our company needs a new start. This reorganization filing is an important first step in that direction and our goal is to keep the Epic Poker League and all of our key initiatives - including the Global Poker Index,, the Epic Poker game on Facebook, and the Heartland Poker Tour - moving forward with a continued spirit of innovation. We will most likely accomplish this by entering into an agreement with another firm that shares our passion and vision - a process we had been working toward prior to the filing..."

"Everyone on our talented team - employees, contractors, and partners, alike - have put their hearts into this business and have worked tirelessly to help bring Epic Poker to life. The effort to reorganize under Chapter 11 is, in part, about honoring their work, honoring the generous support and participation of our league members, and fulfilling our collective vision to help elevate and further celebrate the game of poker."



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9 comments on "Creators of Epic Poker League files for bankruptcy "

 Fakiry05/03/2012 11:53:08 GMT
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.
 MicroMachina05/03/2012 14:42:41 GMT
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...
 rv05/03/2012 15:17:03 GMT
Epic failure
 pochui05/03/2012 19:56:14 GMT
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
 TheMachineQC05/03/2012 20:35:37 GMT
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??
 Macubaas05/03/2012 20:35:57 GMT
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.
 Greenmohave05/03/2012 23:32:16 GMT
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!
 Zxanthion06/03/2012 06:15:43 GMT
Looks like Negreanu had it all figured out after all.
 Regu_1_Lator08/03/2012 01:11:44 GMT
How could they think this was going to work?!

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