I can't believe Empire Poker is giving people their money!

[BruinEric]

[ QUOTE ]
Is TruePoker and GamesGrid going to completely collapse as well?
What about any other site that regularly has fewer than 1,000 players?

[/ QUOTE ]

LOL. Yes, absolutely. We all know the overhead in keeping an online poker room running has to be somewhere in the zillions of dollars. Prolly around the same as a Toy Factory for sure.

How ever is the "old Party Network" going to pay all their dealers, floor persons, custodians, etc.?

[otctrader]

What you fail to see is that Party/Paypro is still managing cashouts for Empire, and I'm sure they are more than happy to facilitate you removing your bankroll from a competitor.

My guess is Empire will go to its own payment system in the not too distant future.

[lorinda]

It didn't take Greg long to work out that playing 10/20 with Empire shares was just too messy.

Lori

[DrSavage]

[ QUOTE ]
Could you explain how Empire is worthless?

[/ QUOTE ]

[CORed]

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good thing the owners went public and didnt tell anyone that their billion dollar investment would be worth nothing soon!!

[/ QUOTE ]

I don't think empire or any of the other skins knew Party would separate their network from the skins network. It looks to me that this was a sneak attack. Party 's lawyers and management acted in the belief that their contracts allowed them to do this, and decided not to give the skins any opportunity to get court orders preventing them from cutting the skins loose.

I seriously doubt anybody will go to jail over this. I am almost certain that civil suits will be filed, but I'm not sure where UK? Gibraltar? both? I don't know the terms of the contracts between Party and its skins, nor do I know anything about contract law in whatever jurisdiction the lawsuits will be tried in (hell I don't know that much about contract law in the U.S,), so I have no idea what the outcome of any lawsuits will be.

I would not be surprised if one or more skins go out of business. I would be somewhat surprised if any of them default on customer accounts.

[LALDAAS]

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My point was that poeple in general used Empire for RB purposes to play against party players

[/ QUOTE ]

What percent of Empires plays do you really think were really there for the reason?

My guess is under 2%

[Sniper]

[ QUOTE ]
well yeah, empire isnt completely worthless but I guess enron isnt either.

[/ QUOTE ]

Kane, your analysis is worth less than Empire's stock (which I sincerely hope you shorted monday morning) [img]/images/graemlins/wink.gif[/img]

[RollaJ]

[ QUOTE ]
seriously what is the deal here. how was this information not public and widespread? this company just became worth less ? shouldn't someone be going to jail?

[/ QUOTE ]

fyp

Truepoker makes money every month, and every day, Bob.

(The fixed costs of running a site are not really increasing, we staff at about the same levels we have for the last 4 years. Our volume is up about 100% over a yeafr ago. This is the only business I know where you can double in size, make money every day and be asked about rumours of "collapse".)

We did just today fix one of our major marketing shortcomings in my view however .... We added Micro-limits to help convert our play money players who play here every day.

David

[PITTM]

so 100 million dollars+ = worthless?

rj