What if Binions folds?

[pokerlover]

I'm not sure if anyone can answer this but:

What if Binions folds and you have already won a satelite to get into the "Big One", are you going to get screwed out of the 10k?

[Greg (FossilMan)]

There have been some long threads on rgp about this. It is very clear that the answer is totally unclear. Lots of opinions, but nothing you should hang your hat on. If the 10K is already in the hands of Binions, your chances of getting screwed certainly will go up. If the money is still in the hands of the party who put on the event, then you should talk to them about holding onto it until nearer the WSOP and when they can verify that it will go. It seems unlikely to me that a cardroom would keep the 10K for themselves once they decided it was too risky to send it to Binions. I would think they would let you enter some other 10K event (Bellagio, Tunica, Foxwoods, etc.).

Later, Greg Raymer (FossilMan)

[dux]

I hate to sound like I've been living under a rock or anything, but Binions might fold? I haven't heard this news, where can I find out about it?

[Ray Zee]

i am only a guard house lawyer but as far as i know you become just a creditor like anyone else in bankrupcy. doesnt seem fair but that is what happens. in the past when casinos went under, those holding winning tickets or chips got didly squat. when some casinos in i know of went under they even took the money in players boxes. that is stealing but the courts deemed it was part of the bankrupcy.

[scalf]

/forums/images/icons/blush.gif he who has the gold....

makes the rules.....gl