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Epic Poker Bankruptcy Leaves Mountain Of Debt

Heartland Poker Tour Assets Locked Up In Court Case

by Justin Marchand |  Published: Apr 18, 2012


On Feb. 28, the Epic Poker League shut its doors, filing for Chapter 11 bankruptcy. Announcing the bankruptcy, Federated Sports and Gaming, Epic Poker’s parent company, Executive Chairman Jeffrey Pollack said via a statement on the company website: “Our company needs a new start. This reorganization filing is an important first step in that direction.” However, Pollack’s optimism could be short lived, considering court filings show that Federated Sports and Gaming has racked up sizable debt in its short existence and, to date, reorganization plans have been rejected by the bankruptcy court. Epic Poker ran just three poker tournaments, adding $400,000 to each prize pool and paying for TV time buys for the programming. It cancelled its fourth tournament, along with a fifth, which promised a $1 million freeroll for the league’s top 27 performers in the inaugural season. Bankruptcy filings show more than 100 creditors are owed, in total, ...

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