Quote:
Originally Posted by Atarirob
If never heard of anything major going off at MGM. From what I understand, HPT was owned by the folks who ran Epic Poker League, but was run differently from the EPL and was very much a profitable entity. From what I hear it should be business as usual with them, but I doubt HPT will be back at Greektown.
Speaking of Greektown, I heard a little rumor that 20-40 limit O8 ran in the back room on Saturday morning. Was very sad to hear about this Saturday night
Yes, they were owned by Federated Sports + Gaming. They just filed for Chapter 11. From everything I read, "they" want to keep the Epic Poker League. This should include the Global Poker Index, the EPL itself, EpicPoker.com, and the Epic Poker game on facebook. They include the HPT as part of their assets. However, in order to move forward, they will need to reorganize and become solvent. This means selling parts of their company, or using subsidiaries as bargaining chips. I think that they will use the HPT as said bargaining chip.
Basically, in order to pay past due bills, stay solvent, and continue operations they need to liquidate assets. In order to run the EPL, which they see as viable, FSG is probably looking to sell the HPT.
This is just my best guess from their statements and business strategy in terms of their past and present behavior.
This doesn't mean the HPT will cease to exist, completely opposite. I think it will turn for the better, because a new owner has new ideas. This is all conjecture of course, but we shall see how much FSG owes when the figures are released in Chapter 11 filings.
Last edited by MJCASRoma; 03-05-2012 at 11:17 PM.