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When does Lock collapse? When does Lock collapse?

05-22-2013 , 10:14 PM
Quote:
Originally Posted by Mccormick
.. and you don't understand the concept of a brand having value?

Say someone wants to start up a new poker company. Lock is out there on the market for sale, but has the negative balances to cover. Now, a potential buyer could make the assessment whether his investment is bigger if he has to start up something new completely (and have to advertise ****loads, nobody knows his name at all, etc.)

He could instead buy up Lock, which is widely recognised, and now the cost on advertising has gone way down, the cost on having a client developed goes way down potentially, and loads of other costs because of contracts running and whatnot possibly aswell.

As i said, i don't have the data on anything, i'm simply stating that Lock as a brand could have big value in the eyes of potential buyers even with player balances to cover.
You should start up your own site and give away half the amount of money of Lock player balances. You'll be saving a ton and word will spread like wildfire without even having to worry about advertisement.
05-22-2013 , 10:15 PM
Quote:
Originally Posted by vindictive27
And if Lock does have too much debt for anyone to want to buy? Would the network itself (for having Lock as a skin on it's network) be liable/responsible for covering any amount of the pending player withdrawals or player balances? I'm not sure anyone has anymore of a clue on that than myself, but I obviously don't mind hearing speculation.
Depends how you look at it, the owners of the network may exactly be one of the potential buyers as i explained above. Will they just "pay people out as an act of charity or to make the network look better"? Hell no in my opinion, not going to happen.

I wouldn't be surprised if there's infact loads of potential investors/buyers just loving to watch what's happening at Lock and would love to buy it up.
05-22-2013 , 10:17 PM
Quote:
Originally Posted by DaycareInferno
You should start up your own site and give away half the amount of money of Lock player balances. You'll be saving a ton and word will spread like wildfire without even having to worry about advertisement.
Yeah.. except i'm 24, have no money to possibly do this, and no experience running a business whatsoever.

Thanks, but no thanks
05-22-2013 , 10:21 PM
Quote:
Originally Posted by surprised
What do you think about asking Revolution Gaming directly?

-> info@revolutiongaming.eu
I think perhaps it's the best post you've made yet. I just sent them an e-mail and I will post an update of their response (if/when I receive one).

I just hope in some sort of way that by allowing a skin to play on its network, that Revolution IS actually liable in some ways for their skins' bankruptcy (if that ever were to happen)
05-22-2013 , 10:24 PM
Mccormick isn't totally wrong here. A bankrupt company could have some value to another player in the market. But in reality it's pretty unlikely anyone would want to buy them. For one thing there just aren't a lot of players in this market at the moment. The trend has been companies exiting the US market rather than new ones entering. And all of the current US-operating sites have sought to limit their exposure to net-withdrawing players. Buying Lock would likely mean having to process a bunch of withdrawals upfront from cash on hand. Some of the players might stick around on the new site and deposit/generate rake. But those players might just as well migrate to that network without them having to buy Lock and take on their debts. I'm just not seeing much value in a brand that is as tarnished as theirs is right now.
05-22-2013 , 10:30 PM
Quote:
Originally Posted by Mccormick
Yeah.. except i'm 24, have no money to possibly do this, and no experience running a business whatsoever.

Thanks, but no thanks
You decline the advice of a business specialist? Thats not clever...
05-22-2013 , 10:40 PM
As Lock Poker has the biggest player pool on Revolution Gaming, the network and the other skins as well have no interest to loose Lock, so I think they´ll try to solve the issues(if they can), otherwise they´ll loose alot of money anyway with a decreased traffic.
05-22-2013 , 10:57 PM
Quote:
Originally Posted by surprised
As Lock Poker has the biggest player pool on Revolution Gaming, the network and the other skins as well have no interest to loose Lock, so I think they´ll try to solve the issues(if they can), otherwise they´ll loose alot of money anyway with a decreased traffic.
Or perhaps the other skins might assume the Lock player pool would transfer their business to them? In which case they might not mind Lock's failure as much?
05-23-2013 , 12:54 AM
Quote:
Originally Posted by vindictive27
Or perhaps the other skins might assume the Lock player pool would transfer their business to them? In which case they might not mind Lock's failure as much?
Well it depends if they have the money. If they don't have player funds why would they want to cover the accounts funds? I am not saying that there wouldn't be someone but it would be really rare.
05-23-2013 , 01:52 AM
Quote:
Originally Posted by jmurjeff
Well it depends if they have the money. If they don't have player funds why would they want to cover the accounts funds? I am not saying that there wouldn't be someone but it would be really rare.
No no, I meant perhaps the other skins on the network wouldn't MIND if Lock went under because all of Lock's players would then be searching for other sites to play on. So perhaps those skins would assume they'd directly receive more business. Especially from players who enjoy the Revolution Network or those who are comfortable with either the layout and/or the tournament schedules. While losing Lock would hurt the network's traffic, I think the other skins would benefit from an increase in personal business.
05-23-2013 , 01:56 AM
I was looking to start playing plo on there, should I not buy money to play on there?
05-23-2013 , 02:08 AM
Quote:
Originally Posted by 65south
I was looking to start playing plo on there, should I not buy money to play on there?
Correct, you should not buy money to play on there.
05-23-2013 , 02:24 AM
Quote:
Originally Posted by vindictive27
No no, I meant perhaps the other skins on the network wouldn't MIND if Lock went under because all of Lock's players would then be searching for other sites to play on. So perhaps those skins would assume they'd directly receive more business. Especially from players who enjoy the Revolution Network or those who are comfortable with either the layout and/or the tournament schedules. While losing Lock would hurt the network's traffic, I think the other skins would benefit from an increase in personal business.

Cake Poker is not thinking in this way, because they purchased the player accounts from Tower Gaming.

If Lock give up business and the players loose their funds, alot of them probably have no interest to keep on playing on other Revolution Gaming skins, because they fear that they can loose their funds as well. However, in my calculation Lock giving up business and players loose funds will be the worst case scenario for Revolution Gaming and the other skins, because the traffic will decrease substantially and can have a domino effect. So they´ll try everthing they can do to avoid this scenario.
05-23-2013 , 02:28 AM
do you have proof of the contrary?
05-23-2013 , 02:31 AM
Quote:
Originally Posted by Jah Onion
do you have proof of the contrary?
If you speak to me, let me know...
05-23-2013 , 03:22 AM
Quote:
Originally Posted by surprised
Cake Poker is not thinking in this way, because they purchased the player accounts from Tower Gaming.

If Lock give up business and the players loose their funds, alot of them probably have no interest to keep on playing on other Revolution Gaming skins, because they fear that they can loose their funds as well. However, in my calculation Lock giving up business and players loose funds will be the worst case scenario for Revolution Gaming and the other skins, because the traffic will decrease substantially and can have a domino effect. So they´ll try everthing they can do to avoid this scenario.
Lots of loose funds in this post
05-23-2013 , 03:24 AM
What benefit is there in arguing about hypothetical scenarios, with no actual facts to support either side of these hypethetical arguments? It's a lot of waisted time and energy isn't it? No disrespect! ( just saying).
05-23-2013 , 03:38 AM
Quote:
Originally Posted by BuSTMeANuT
Lots of loose funds in this post
What do you mean with "loose funds"?
05-23-2013 , 04:56 AM
I imagine he's referring to the fact that you're confusing the words lose and loose.
05-23-2013 , 07:19 AM
Ahh yes I made a spelling mistake. Thank you!
05-23-2013 , 10:27 AM
Quote:
Originally Posted by 4barreledjoe
What benefit is there in arguing about hypothetical scenarios, with no actual facts to support either side of these hypethetical arguments? It's a lot of waisted time and energy isn't it? No disrespect! ( just saying).
True, but it seems like everything is hypothetical here. Hypothetically if Lock pays us, hypothetically if Lock doesn't pay us, etc. I was actually hoping Shane might help answer if the network itself was liable at all. At least that 'surprised' guy gave me the idea to e-mail Revolution about it.

If the network itself WAS liable for covering outstanding player balances and pending withdrawals (in the hypothetical that Lock did go under), then wouldn't we feel a bit more comfort in the situation? I know I would. It's like if a child defaults on a loan that their parents co-signed, the government doesn't really care all that much about the child's situation because they'll be seeing that money from the parents.

And nothing whatsoever that I post here is nearly as much of a waste of my time as e-mailing Lock Support. The 50+ e-mail response run-arounds I've received in regards to a single cashout request from 4.5 months ago is way worse than any hypothetical chat on here. At least here, I know it's hypothetical as opposed to waiting weeks/months with Lock and then realizing their Support's promises were also based on hypothetical situations on their end that we aren't aware of. (having our money?, etc)
05-23-2013 , 05:03 PM
@surprised - What is your first language?
05-23-2013 , 10:23 PM
Quote:
Originally Posted by surprised
What do you think about asking Revolution Gaming directly?

-> info@revolutiongaming.eu
24 hours and no response from the Revolution Gaming Network on if they'd be liable in our hypothetical. This is my shocked face:
05-25-2013 , 12:56 AM
@vindictive27

Quote:
Originally Posted by vindictive27
It is enough "proof" for me that they are insolvent (at one point or another, most likely still currently ongoing), that Lock will not have a 3rd party accounting firm perform an audit of at LEAST a few of their non-U.S. subsidiaries.
Why asking a "liar" for your money while you are sure that Lock is insolvent?
05-25-2013 , 01:08 AM
Quote:
Originally Posted by surprised
@vindictive27


Why asking a "liar" for your money while you are sure that Lock is insolvent?
Honestly, I typed out a long response and then I realized I'm just repeating myself with you. I'm done talking to you after this post, literally done. So don't wonder why I'm not going to be responding to you anymore.

A) It's my money, I'm asking THEIR employee for my money. Insolvent doesn't mean they can't payout SOME requests. You clearly don't understand the word insolvent, along with a lot of other English words (yeah I went there).

B) Revolution hasn't emailed me back, safe to assume that won't happen.

C) Go away already, I'm stating my opinions about Lock Poker, if you want to state yours then go ahead, but stop targeting other posters with your nonsense.

      
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