DFS operator files for bankruptcy

[The Buzz]

The daily fantasy sports industry got some unwanted news when Fantasy Aces was forced to file for Chapter 7 bankruptcy after apparently using player funds for operations.

From Yogonet.com:

As a result of Aces filing for Chapter 7 bankruptcy, it appears unlikely that players with money in their accounts will receive much, if anything, as a result. Players at Aces had not been able to access their accounts for more than a week. A visit to Fantasy Aces’ website still only tells users that an “update is coming shortly.”

Fantasy Aces had announced that it was being acquired by another operator — FantasyDraft — last week. However, FantasyDraft backed out of that arrangement before the deal closed, citing “issues identified during our due diligence.” Those issues are now pretty clear in retrospect. Previously, Aces had issued a corporate update about the sale, and a stop on trading of its shares had been put in place by regulators.

Read more here: http://www.yogonet.com/international...for-bankruptcy

[universal4]

Looks like they need a better editor at yogonet...

As a result of Aces filing for Chapter 7 bankruptcy, it appears unlikely that players with money in their accounts will receive much, if anything,

Shouldn't that be

As a result of Aces filing for Chapter 7 bankruptcy, it appears unlikely that players with money in their accounts will NOT receive much, if anything,

Rick
Universal4

[sandysr]

This is quite sad to be honest.

[Sidney]

Looks like they need a better editor at yogonet...


Shouldn't that be


Rick
Universal4

No, I think it was correct the first way.

[The Buzz]

The company announced this week that it would be paying out "some" of the money owed to players:

http://www.yogonet.com/international...y-aces-players