Bad news from Aces Gold

[Jeff]

The following email was sent to all the websites in which Aces Gold has advertised.

We regret to inform you that as of today, Feb. 15, 2002, Seinpost Holding,
parent company of AcesGoldCasino.com and Sports-Market.com has been declared
insolvent and has been taken into bankruptcy proceedings by the Court of
Netherlands Antilles in Curacao.

As a result of this, please pull down all links to our sites, banners and
text links.

It has been a pleasure and privilege to work with you. Thanks again.

Kind regards,

Gerry

[DrunkenGoon]

Can I claim my Aces balance as capital loses?

May all your bets be winners

[BackDoorCover]

This is incredibly upsetting, especially since many people, including BW, continued to express confidence in aces after they made their changes. Any chance that another book will take over or at least partial payments can eventually be received??

I was careful to only use well respected long time books like carib, wsex, intertops, olympic and aces and yet here I am, apparently burned out of a mid four figure balance. This just really shakes your confidence in the entire industry!

[Jeff]

Yep. Agreed. It does shake your confidence in the industry, and in people in general.

[stardust]

Holy hell - I thought they would turn it around.

Jeff - can you tell the players where they stand in line to be paid according to the rules of the Court of Netherlands Antilles in Curacao.

I know in the US, some order of preference is used to payoff those owed in a bancruptcy.

Any chance post up players will get something?

As always - Good Luck,

Sonny

[bgeorgia]

sonny

i don't believe their will be any line.

[Jeff]

If I find anything out I'll certainly pass it along.

If there's a line, I'll be standing in it as well.

[Dragon]

They had lines up this morning.

[dylan24]

I had over 11,000 dollars w/ aces gold.
I'm stunned. Any chance they will pay any of their clients or is our money gone? I feel like
an Enron shareholder

[Omni]

I'm very pissed off. I think it's time for some answers. What exactly were these "negative events" that caused aces gold so much trouble recently? Is this another example of the superbowl curse for sportsbooks? Did someone clean them out? I think we all deserve to know whatever specifics we can.

I've said this here before, and I'll say it again. NO book is 100% safe. Any book can run into big financial trouble. And the beauty part of it is that they'd never tell you, or else you'd pull your money out and they'd be out of buisness for sure. So meanwhile, while a book is in finacial trouble, someone out there who knows absolutly nothing will go around telling everyone that XXX book is total safe.

I heard someone say that Aces Gold is as solid as they come. People need to understand that is exactly right. Aces Gold IS as solid as they come, and now they're done. What does that tell you?

[Jeff]

You're absolutely right. No book is 100% safe. The books are gambling as much as the players. Contrary to popular belief, books and bookmakers can and do lose. It's happened on the street, it's happened in Vegas, and it of course has happened more times than anyone is comfortable with offshore.

Players need to come to terms with that before they play. It's a risk we all take.

Sure, someone can come on here now and say so and so is a publicly traded company, blah blah blah. Or so and so is regulated by the gov't, blah blah blah.

Bottom line is any business can fail.

All we can do as players is research all we can and get the opinions of our fellow players, then make choices we're comfortable with.

Personally, I was able to dodge bullets for 6+ years offshore by doing just that. Not this time though, as I made a play at Aces as recently as last night.

My guess on the negative events would be the Super Bowl, the playoffs, the number of games that landed on 3 this year, the negative press, the football season in general, the bonus hunters and the scammers.......any combination there of.

As much as we all like them, the industry should probably get rid of bonuses, juice deals and every other imaginable bonus and promotion out there. Just a thought......

[chestrockwells]

Sure Jeff, any business can fail etc etc. but we're not investors in the business. We don't profit when the book makes a killing. Our post-up funds are supposed to be for us to play against.
This is all starting to sink in and I apologize to anyone who may have been lulled into being patient with Aces because of what I may have said in previous posts. I spoke to them not even 24 hours ago and was told that my check would be sent today. Yeah right.

[tombed2001]

Here is a letter I got yesterday from Aces Gold

From: [email protected] (Webmaster) Save Address
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Date: Thu, 14 Feb 2002 12:30:53 -0500
To:
Subject: RE: Client Query Request made by Account XXXX

--------------------------------------------------------------------------------


Hi Tom,

You're check will go out tomorrow and it will be delivered on Saturday.
About the second question management will think about it and they will reply to you as soon as they have the answer.

Kind regards,
Acesgold

I guess that 4,300 hundred and 12,269 left in my balance is history

[mls]

I withdrew all but $10K after the Super Bowl (the good news) ... but that check hasn't cleared yet (the bad news) ...

As for the other $10K ...

Sounds like this was an involuntary bankruptcy ... if it filed by the Curacau government then there is a (small) chance there might be partial recovery (unless the owners decided to "disappear" with the deposits left ...)

Guess there are a lot of us in this sunk boat ...

[bertex]

the government of curacao needs to make this right.i will never post up one red cent with any sportsbook licensed there if the customers are not taken care of