Fantasy Aces Files for Bankruptcy, Can’t Pay Players

Fantasy Aces Files for Bankruptcy, Can’t Pay Players

Fantasy Aces’ situation generally seems to be alarming for its customers that are unable to withdraw their funds. Then the states that have regulated DFS have a duty to prosecute if the stricken company has co-mingled customers’ funds with operating costs.

Daily fantasy sports (DFS) operator Fantasy Aces filed for bankruptcy this week after a rescue that is last-ditch by competitor Fantasy Draft fell through.

Alarmingly for players, it appears from the bankruptcy filing that the company struggles to pay significantly more than $1 million of players’ funds, and so it has co-mingled customer money with its running expenses.

‘The Fantasy Aces team truly regrets to announce that people are not able to sustain our web site and company operations January that is effective 31st, filing for protection under Chapter 7 bankruptcy law,’ the business told its customers on Wednesday.

‘After spending over a year attempting to secure long-term money, including recent negotiations with two notable businesses which subsequently neglected to shut, our company is left by having an unresolvable burden that is financial. We have actually unfortunately exhausted every feasible option that is financial no success,’ the California-headquartered DFS company concluded.

Will Regulated Jurisdictions Prosecute?

Consumer protections therefore the dependence on operators to segregate player funds was a major driving force behind states using steps

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William Hill’s Largest Shareholder Needs Purchase of Gambling Company

William Hill’s Largest Shareholder Needs Purchase of Gambling Company

William Hill is once again at the center of merger talks, but this time the organization’s shareholder that is largest wants it to be the goal of a takeover.

William Hill is allegedly back on the trading blocks after the company’s chief stakeholder reportedly called for the group to look for a potential buyer.

Parvus Asset Management, a London-based hedge fund that controls 14.3 % associated with the UK bookmaking and gambling company, is apparently pushing William Hill to accept a takeover that is qualified.

According to The Sunday days, A uk weekend newspaper, Parvus thinks William Hill should look to be obtained by, or merged with, another leading online gambling firm. Prospective suitors include GVC Holdings, as well as 888 Holdings additionally The Rank Group, the two latter which attempted to buy William Hill last summer.

Both Parvus and William Hill declined to comment, but conjecture is operating rampant in britain due to the hedge fund’s considerable power.

Founded in 1934 by the business’s namesake, William Hill employs some download free pokies 16,000 people today. The bookmaker has 2,370 physical betting shops throughout the UK, which compliments its online gaming network.

Up to Parvus

It had been just last October that the investment team publicly blasted William Hill’s potential aligning with Amaya, the Canadian-based company that owners PokerStars.

Parvus stated at the time, ‘We strongly encourage that the board

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As Rome Burns, Putin OKs Crimea Gambling Zone

As Rome Burns, Putin OKs Crimea Gambling Zone

Russian president Vladimir Putin, facing economic sanctions, signs in a legislation which will produce a ‘gambling area’ in annexed Crimea. But could their timing be any worse?

The story that is old Roman emperor Nero fiddling while his city burned to the floor features a mythic quality that could be used to Vladimir Putin today. Dealing with an international scandal after Russia’s seeming involvement in shooting a Malaysia Air passenger jet out of the sky, the Russian president has chosen now to okay a new gambling zone in Crimea; a small region simply to the south of Ukraine, in which the horrific incident took destination week that is last.

Of course, unlike Nero, Putin remains firmly accountable for all things Russian, and has borne the brunt of surprisingly little international outrage over the incident which was allegedly carried out under his military’s auspices.

Putin signed into impact a legislation this week that will transform the annexed territory of Crimea into a gambling zone for Russian holidaymakers. Within the light of recent events in Eastern Ukraine, Putin, faced with the prospect of increased US/EU sanctions, could very well have selected a more moment that is apposite make this specific announcement, but he’s nothing if not bull-headed, and it is clear he is determined in order to make the region economically self-sufficient.

Russia overran the territory that is largely russian-speaking the Ukraine in March

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