The remaining assets of the bankrupt Federated Sports + Gaming are ready to face auctioning tomorrow. Included in the assets is the valuable and very popular Heartland Poker Tour.
The assets of the now-bankrupt Federated Sports + Gaming - including the Heartland Poker Tour - are ready to be auctioned off to a limited number of bidders tomorrow.
Federated Sports + Gaming made a big splash on the poker scene last year after initiating a number of ambitious projects and takeovers, including the Epic Poker League.
The company also acquired the popular Heartland Poker Tour, but failed to finalize the required payments for the tour, and instead a Chapter 11 bankruptcy was filed in the end of February this year.
As a result, the Heartland Poker Tour alongside other assets will now be auctioned away in mandated court tomorrow. The result of the auction will be made public on Thursday.
A source has today told Pokerfuse
that the court has approved five bidders to participate in the auction. These include Pinnacle Entertainment, All-In Productions, William Hill and two unnamed companies; one US casino management company and an European poker investment firm.
Meanwhile, the fallout from Federated Sports + Gaming's bankruptcy continue to raise questions among players who played in the Epic Poker League.
After hosting two inaugural tournaments, a third event is still pending, as well as a promised $1 million freeroll
for the league's top finishers has still to be scheduled.
It remains uncertain whether or not these tournaments will ever be played, although some speculate that the Epic's partnering casino, Palms, may be forced to hold the freeroll event under Nevadan gaming law.