Codeta - shutting down? Financial issues

**canaryjohn** · 14 September 2018, 5:26 am

I am hearing on the grapevine that Codeta are going or are about to go bankrupt.

Thought I should put it out there for you guys.

Thankfully we don't promote the Codeta brand but I know that a lot of you do.

**Cash Bonus** · 14 September 2018, 5:29 am

So many programs unnecessarily shutting down these days and leaving us in the dark.

**Progger** · 14 September 2018, 5:51 am

Can be true,this brand dont convert on my end. The worst on my list.

Open the page... https://codeta.com/ - this looks like a car accident on a highway.

**Triple7** · 14 September 2018, 5:52 am

Originally Posted by canaryjohn

I am hearing on the grapevine that Codeta are going or are about to go bankrupt.

Thought I should put it out there for you guys.

Thankfully we don't promote the Codeta brand but I know that a lot of you do.

No idea.

The idea of running a "live casino niche" on a white label I always found a bit weird. Later they left a bit that "live casino niche"-thing and became a "normal" casino. It is difficult to be innovative and to target a niche while running on a white label. I've understood from players and own tests that customer service was poor and payments late. Just like the program by the way. Stopped working with them after I had to chase a payment.

It's part of Ihre Consulting, isn't it?

**MMM** · 15 September 2018, 7:31 am

Originally Posted by Triple7

It's part of Ihre Consulting, isn't it?

Yep

**nwalker** · 15 September 2018, 12:25 pm

Originally Posted by vtyunby65

So many programs unnecessarily shutting down these days and leaving us in the dark.

What makes you think that shutting down is unnecessary?. If they have gone bankrupt or something similar, are in debt, and can't sustain a business, then surely that is the right thing to do.

**petimi** · 15 September 2018, 1:33 pm

it's a shame, I remember seeing the brand on one of the affiliate conferences and thought that it was well designed and executed. Apart from that I never got to work with them and if they had issues like late payments (like someone previously mentioned) that is not a good point for any program.

**ocreditor** · 16 September 2018, 2:39 am

Originally Posted by canaryjohn

I am hearing on the grapevine that Codeta are going or are about to go bankrupt.

Thought I should put it out there for you guys.

Thankfully we don't promote the Codeta brand but I know that a lot of you do.

Can you please explain how did you come in to this conclusions they are shutting down?

Thanks !

**Insider** · 16 September 2018, 5:38 am

Originally Posted by ocreditor

Can you please explain how did you come in to this conclusions they are shutting down?

Thanks !

I believe it's an impression because of financial issues. Can be that the brand don't convert and brings not enough money.

Late or no payments are never good signs. What i can say is, that the company was restructured and in this context our manager was sadly forced to leave.

A restructure after a so short time lets only one conclusion. They have not think about this business enough. However for us it hasn't convert too.

For me this kind of presenting a Casino will not work and my impression from the beginning wasn't good. But we started to promote because i wanted to make a favor for the manager i already know a longer time.

So it is also a personal impression from me that Codeta maybe closed again in the near future.

**MMM** · 16 September 2018, 5:44 am

I think more info needed. I never managed to convert with 888 yet i doubt they are closing any time soon.

I agree that late payments is the best sign that something is not in place, but needs to be a wider spread of complaints.

But maybe Canaryjohn heard something more precise...

**ocreditor** · 16 September 2018, 8:20 am

Originally Posted by Insider

I believe it's an impression because of financial issues. Can be that the brand don't convert and brings not enough money.

Late or no payments are never good signs. What i can say is, that the company was restructured and in this context our manager was sadly forced to leave.

A restructure after a so short time lets only one conclusion. They have not think about this business enough. However for us it hasn't convert too.

For me this kind of presenting a Casino will not work and my impression from the beginning wasn't good. But we started to promote because i wanted to make a favor for the manager i already know a longer time.

So it is also a personal impression from me that Codeta maybe closed again in the near future.

Thanks for your insight !

I do agree that it's not a good sign when you see people changing/leaving all the time and companies that are restructured, it's usually because something was going on the wrong direction.
However, I've seen many brands that this same crisis happened to them and they had also bad results but still they did manage to recover and stay live.. in most cases I admit their results didn't improve at all, but this is because sometimes there are other problems which are not related to the management.

**canaryjohn** · 16 September 2018, 10:20 am

Guys just wanted to be clear.

Its not an impression or a maybe due to late payments looking bad etc.

That would be quite a leap.

No, I am hearing from people I know who work at this company.

Essentially employees were told - no money to pay you. Sorry.

So thought it important to share that info.

Does that include affiliate payments? I have no idea. But it wouldn't surprise me.

As far as I'm led to believe - this information is solid.

**Cash Bonus** · 16 September 2018, 2:44 pm

canaryjohn, It's not the fault of the employees if the company has no money to pay them. Do you know what the reasons behind this are exactly?

**ocreditor** · 17 September 2018, 12:53 am

Originally Posted by canaryjohn

Guys just wanted to be clear.

Its not an impression or a maybe due to late payments looking bad etc.

That would be quite a leap.

No, I am hearing from people I know who work at this company.

Essentially employees were told - no money to pay you. Sorry.

So thought it important to share that info.

Does that include affiliate payments? I have no idea. But it wouldn't surprise me.

As far as I'm led to believe - this information is solid.

This is bad...

**canaryjohn** · 17 September 2018, 2:03 am

Originally Posted by vtyunby65

canaryjohn, It's not the fault of the employees if the company has no money to pay them. Do you know what the reasons behind this are exactly?

I didn't think it was their fault. Not sure what you're getting at there.

Reasons - not sure. Could only speculate.

**Cash Bonus** · 17 September 2018, 2:06 am

I just meant that it’s not fair that the employees have to suffer because of the mistakes of their company.

**canaryjohn** · 17 September 2018, 2:14 am

Originally Posted by vtyunby65

I just meant that it’s not fair that the employees have to suffer because of the mistakes of their company.

Fair enough. Well we agree there.

Seems like they have been working for free for last month.

**MMM** · 24 September 2018, 2:52 pm

Anyone managed to reach someone there? Have some earnings that weren't paid so tried to email a few but no reply.

**Pokerface** · 30 September 2018, 7:15 am

Thanks for the heads-up. Regardless of what happens and why it's good to keep the situation on the radar.

**LeeGwilliam** · 2 October 2018, 2:58 am

Shame, Codeta was a good idea badly executed, I wonder if this drags Ihre under aswell?

Thread: Codeta - shutting down? Financial issues

LinkBack

Thread Tools

Search Thread

Display

Codeta - shutting down? Financial issues

The Following 6 Users Say Thank You to canaryjohn For This Useful Post:

The Following 2 Users Say Thank You to Progger For This Useful Post:

The Following 2 Users Say Thank You to ocreditor For This Useful Post:

The Following User Says Thank You to Insider For This Useful Post:

The Following User Says Thank You to MMM For This Useful Post:

The Following 4 Users Say Thank You to canaryjohn For This Useful Post:

The Following User Says Thank You to ocreditor For This Useful Post:

The Following User Says Thank You to canaryjohn For This Useful Post:

The Following User Says Thank You to Cash Bonus For This Useful Post:

The Following 2 Users Say Thank You to canaryjohn For This Useful Post:

The Following User Says Thank You to LeeGwilliam For This Useful Post:

Posting Permissions