Federated Sports + Gaming, the company behind the Epic Poker League, has filed for Chapter 11 bankruptcy, putting the future of the tournament series in doubt.
“Our company needs a new start,” said Jeffery Pollack, one of the main faces in FS+G. “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.”
Poker insiders have been eying the EPL for a while now, ever since the postponement of their fourth event and championship. Duke (who is the sister of embattled Full Tilt head Howard Lederer), said at the time that the change had to do with player complaints over scheduling conflicts. Though this may have been true, there was perhaps more going on than was initially apparent.
“The headline here is that we’re reorganizing, not liquidating,” Pollack later told the folks at PokerNews. “We need a new start, and we’re going to hit the reset button and come at it again.”
So, while this is certainly a bump in the road, the Epic Poker League may not be gone for good. Annie Duke, one of the major forces behind the tournament series, spoke with PokerNews regarding the scheduling of future events.
“I do not know exactly when we will stage Event 4 and the Season One Championship,” she said, “but, again, it is our intention to complete Season One.”
Wicked Chops Poker, one of the sites to first break the news of the filing, has also reported that FS+G had been in talks with Pinnacle Entertainment. As recently as January, Pinnacle had expressed interest in purchasing the company and taking over the operation of the Epic Poker League. Now, they may be able to complete such a deal at a bargain price.