Millions in debt indicate bigger problems than it was initially thought
According to the latest reports, triggered by sources' revelations about the bankruptcy filing of Federated Sports and Gaming (FS&G) and its Epic Poker League over the weekend, it appears that the poker network's problems are bigger than it was believed at first.
Namely, there are court documents that indicate the company's serious debts, including an outstanding $2 million loan from Pinnacle Entertainment, along with $1.97 million still owed to All In Production (Heartland Poker Tour) for the remainder of their not-fully-executed acquisition.
There's also a list of 118 creditors, among which are employees, production, marketing and publicity companies and the Disabled Veterans of America.
At the moment when it filed for bankruptcy, FS+G had $15,000 in cash.
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