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Epic Poker League parent company files for Chapter 11

1 Mar 2012

By Howard Stutz
LAS VEGAS, Nevada -- The company that owns and manages the upstart Epic Poker League has filed for Chapter 11 bankruptcy reorganization.

Federated Sports + Gaming, a company started by former World Series of Poker Commissioner Jeffrey Pollack, filed the bankruptcy in Maryland late Tuesday.

In a statement posted on the Epic Poker League's website, Pollack said the company would seek a partner, a pursuit that was under way before the bankruptcy filing.

Besides the Epic Poker League, which held three events last year at The Palms Casino Resort, Federated owns the Global Poker Index, epicpoker.com, the Epic Poker game on Facebook, and the Heartland Poker Tour.

"Our company needs a new start," Pollack said. "This reorganization filing is an important first step in that direction and our goal is to keep the Epic Poker League ... moving forward with a continued spirit of innovation."

In January, the Wicked Chops Poker website reported Epic Poker was in negotiations to be bought by casino operator Pinnacle Entertainment.

Pollack started the league with professional poker player Annie Duke as commissioner. The idea was 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.

In a letter sent to Epic Poker League members, Duke said the intention was to finish the first season with its fourth event and the Season One Championship. Both had been scheduled for the Palms, but Pollack said it was unclear when the events would take place.

Federated bought the midsized Heartland Poker Tour last year. The tour was expected to continue operating while the reorganization takes place.

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