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Epic Poker League Parent Company Files For Chapter 11 Bankruptcy
Published March 1, 2012
Federated Sports & Gaming, the company that owns and manages the upstart Epic Poker League, "has filed for Chapter 11 bankruptcy reorganization," according to Howard Stutz of the LAS VEGAS REVIEW-JOURNAL. The company, started by former World Series of Poker Commissioner Jeffrey Pollack, "filed the bankruptcy in Maryland late Tuesday." Pollack said in a statement that the company "would seek a partner, a pursuit that was under way before the bankruptcy filing." Pollack started the league with professional poker player Annie Duke as Commissioner. The idea was to "attract professionals who would earn their player cards to compete, similar to players on golf's PGA Tour." The first Epic Poker event "had just 137 players and smaller fields in the next two events" (LAS VEGAS REVIEW-JOURNAL, 3/1). CARDPLAYER.com's Brian Pempus noted the league, which has awarded membership via a ranking system, "is still in the midst of its inaugural season." Pollack said that the league "plans to finish the schedule, which includes the last of four stops and a $1 million freeroll for the 27 top performers, but he doesn’t know when." The league said that finishing the season "had already been delayed due to scheduling conflicts with other poker tours." In order to "maintain a tour card, the league has required members to play in at least one satellite event, at least one league charity event and at least one $20,000 buy-in rake-free main event each season" (CARDPLAYER.com, 2/29).