In a message posted on their website today, Federated Sports + Gaming, the parent company of the Epic Poker League, announced they have filed for Chapter 11 bankruptcy.
The highly-promoted, invite-only poker league is currently in its first season. The Epic Poker League was created by Annie Duke in hopes that it would be come the “PGA of poker”. Players can earn membership cards based on their performance in major tournaments from around the world over the past several years.
Three events have taken place in the inaugural season of the Epic Poker League. The fourth event as well as a $1 million end-of-season freeroll, which were both slated to be held weeks ago, were postponed allegedly due to player complaints about scheduling conflicts. League commissioner Jeffrey Pollack said today in a statement that, “it is our full intention to complete, as planned, Season One of the Epic Poker League. However, we do not yet know when Event 4 and the Season One Championship will be staged.”
In August, we posted a blog with thoughts on why the EPL will fail. That prediction came true a bit quicker than we could have expected. Here’s one more prediction so long as we’re on a hot streak: that $1 million freeroll EPL members were promised… it’s probably not going to happen.