| Posted by: Jetset at May 12, 2001, 9:54 pm | | Topic: Tropika Fire Sale? Forum: Winner Online |
Everything points to a cash problem, including the fact that they have blown their reputation because they didn't have the cash to pay their players from December.
They have admitted that they owed players US$110 000 in total, which in a serious business is not really a large sum of money.
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| Posted by: Casino Guru at May 12, 2001, 6:48 am | | Topic: Tropika Fire Sale? Forum: Winner Online |
I am not sure that putting up the casinos for sale necessarily means that they have run out of cash. As it is, these assets are worthless. The reputation of these casinos is so bad that any email I get from them goes right into the trash without ever being opened. I suspect that many people do the same.
Thus, if the casinos in question are worthless because of their poor reputation, why not sell them and try to get some money for it. It would make more sense to open brand new casinos and start again if they want to continue in the business.
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| Posted by: Jetset at May 11, 2001, 11:11 pm | | Topic: Tropika Fire Sale? Forum: Winner Online |
I'm not sure why Atlantis Star was not on the sale list but Jetset Casino was ommitted because the owners have not yet been approached to find out whether they wanted to join the sale.
As I write this the cyberdealernet site is down.
Iceberg Casino was taken down a few months back by APS/Tropika without informing their investors, which caused a minor furore.
It remains "parked" as far as I know and nothing further on it has been disclosed by Tropika management. The url routed to an ISP which is it's temporary home last time I checked it.
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| Posted by: CasinoNow at May 11, 2001, 10:52 pm | | Topic: Tropika Fire Sale? Forum: Winner Online |
I would be curious to know if the purchase of these sites includes assuming debts held by the establishment (player accounts and otherwise). If I were to purchase most any other business during times of trouble, I would fully expect to get a reduced cost for the business to compensate for the fact that I am also taking on the debts. Either way, I think that in this case there are also reputation issues to deal with, and from what I have been reading I doubt ery serious that an "Under New Management" sign would do the trick.
Jerry Garner
CasinoNow Gaming Resource Center
http://www.casinonow.net
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| Posted by: AmateurSleuth at May 11, 2001, 12:09 pm | | Topic: Tropika Fire Sale? Forum: Winner Online |
Casino Iceberg was probably ripped off the net by Microgaming for not paying licensing fees. Obviously it wasn't for not paying players.
So someone would want to buy from these bozos, and then continue to let them handle the money. Yeah, right.
They may well find a someone who wants a cheap deal, and thinks they've hit on a goldmine
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| Posted by: James at May 11, 2001, 10:04 am | | Topic: Tropika Fire Sale? Forum: Winner Online |
I wonder if I could offer to take a casino off their hands as a straight-up trade for the cash they owe me.
Never mind, I lose enough money as a player, let alone an owner.
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| Posted by: James at May 11, 2001, 10:01 am | | Topic: Tropika Fire Sale? Forum: Winner Online |
Jetset wasn't on the auction list either.
Neither was Atlantis Star.
The other property not on the list was Iceberg, which presumably has no alue now that they've lost their URL and were trying to absorb it into Fairplay.
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| Posted by: Got2Bet at May 10, 2001, 11:26 pm | | Topic: Tropika Fire Sale? Forum: Winner Online |
Whoa...
What does that leave, Fairplay? And I wonder what Microgaming will have to say about this...
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Spearmaster
Got2Bet - Online Gambling News and Information
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| Posted by: Jetset at May 10, 2001, 11:04 pm | | Topic: Tropika Fire Sale? Forum: Winner Online |
Check out www.cyberdealernet.com and click on the "Casinos for Sale" tab. Tropika is trying to get rid of most of its casinos at $50 grand apiece asking price (probably small client bases)and are offering their Support, Admin and Marketing services on a contract basis to whoever buys them.
Doesn't look too encouraging when all they can offer is $2 000 toward paying their outstanding December player debts and now they have their casinos up for sale, but perhaps if they managed to sell a couple the players will eventually get paid.
Hold thumbs!
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