GamblersAvenue
Junior Member
Registered: Oct 2003
Location: San Jose, CR
Posts: 21
To Insider and others,
To set the record straight. Gamblers Avenue was already in discussions with other entities to sell its operation. Most notably was Grande. Grande would have made sense from a technical-software aspect since we both use iNet, but they did not have as many betting options as us nor did they have reduced juice wagering. The fit did not make sense for either party. They were not prepared to offer the same types of incentives that our client base is accustom to.
Royal approached us once the "run on the bank" started and during the Grande discussions. We were handling the "run on the bank" just fine on Monday, even though the rumors persisted. Keep in mind that with all of the past issues in this industry (Securebuxx, Camelot, Ace's Gold), players don't care to stick around to see if the rumors are false or not. I can understand that. What no one cares to mention is that there was not one slow or no pay whatsoever with Gamblers Avenue.
Many wonder why we were looking for buyers or why did we sell. The reason is very simple. I have other business interests that require my attention and were distracting me from giving GA the attention and time it needed to to take it to the next level. The business was better suited for someone with the knowledge and experience in the industry and most importantly time.
Many are asking why is Royal imposing a 5 time rollover. The original deal in discussions on Monday was not to have a rollover requirement. But on Tuesday, the forums fanned the flames and everyone thought the sky was falling. Payout requests continued to pour in and it was obvious that EVERYONE would pull out from any new purcahser. There was never a question of if the players were going to get paid or not, they were going to get paid even if we did not sell the company to Royal or any other entity.
I know some people on other forums have compared me to Mark Del from Camelot, Lance from NAB, Charlie from Ace's Gold or Eddie from Alladin's. Let me make one thing clear, I DID NOT STEAL POST UP DOLLARS OR CLOSE THE SPORTSBOOK. I AM NOT A THIEF. I could have taken the money and ran and never looked back. We SOLD the sportsbook. We did not receive a bailout. We were acquired by Royal Sports. There is a huge difference.
Also, there were options on the table with other suitors. Ultimately, Royal's offer was the best for the players.
Lastly, I expect everyone to rally behind Freddy. He was doing his job as best he could under the intense situation. All of his peers (meaning you guys) were calling at a rapid rate and being the straight shooter that he is, he could not field all of the calls and receive up to the minute updates on the current status of the acquistion. I would hope that people will realize that and not hold it against him. He is a great person and a good and true friend to most of you in these forums.
Cordially,
Mike Silver
Junior Member
Registered: Oct 2003
Location: San Jose, CR
Posts: 21
To Insider and others,
To set the record straight. Gamblers Avenue was already in discussions with other entities to sell its operation. Most notably was Grande. Grande would have made sense from a technical-software aspect since we both use iNet, but they did not have as many betting options as us nor did they have reduced juice wagering. The fit did not make sense for either party. They were not prepared to offer the same types of incentives that our client base is accustom to.
Royal approached us once the "run on the bank" started and during the Grande discussions. We were handling the "run on the bank" just fine on Monday, even though the rumors persisted. Keep in mind that with all of the past issues in this industry (Securebuxx, Camelot, Ace's Gold), players don't care to stick around to see if the rumors are false or not. I can understand that. What no one cares to mention is that there was not one slow or no pay whatsoever with Gamblers Avenue.
Many wonder why we were looking for buyers or why did we sell. The reason is very simple. I have other business interests that require my attention and were distracting me from giving GA the attention and time it needed to to take it to the next level. The business was better suited for someone with the knowledge and experience in the industry and most importantly time.
Many are asking why is Royal imposing a 5 time rollover. The original deal in discussions on Monday was not to have a rollover requirement. But on Tuesday, the forums fanned the flames and everyone thought the sky was falling. Payout requests continued to pour in and it was obvious that EVERYONE would pull out from any new purcahser. There was never a question of if the players were going to get paid or not, they were going to get paid even if we did not sell the company to Royal or any other entity.
I know some people on other forums have compared me to Mark Del from Camelot, Lance from NAB, Charlie from Ace's Gold or Eddie from Alladin's. Let me make one thing clear, I DID NOT STEAL POST UP DOLLARS OR CLOSE THE SPORTSBOOK. I AM NOT A THIEF. I could have taken the money and ran and never looked back. We SOLD the sportsbook. We did not receive a bailout. We were acquired by Royal Sports. There is a huge difference.
Also, there were options on the table with other suitors. Ultimately, Royal's offer was the best for the players.
Lastly, I expect everyone to rally behind Freddy. He was doing his job as best he could under the intense situation. All of his peers (meaning you guys) were calling at a rapid rate and being the straight shooter that he is, he could not field all of the calls and receive up to the minute updates on the current status of the acquistion. I would hope that people will realize that and not hold it against him. He is a great person and a good and true friend to most of you in these forums.
Cordially,
Mike Silver
