Update: Pinnacle Launches Successful Bid for Federated Sports$Gaming

But still needs to take care of legal affairs

In a court-ordered bankruptcy auction of Federated Sports $amp; Gaming, Inc., parent of the Epic Poker League, one of its largest creditors, Pinnacle Entertainment, Inc. emerged as a winner with its bid of $4.5 million for the combined assets of Federated Sports $amp; Gaming, Inc., Federated Heartland Inc., the Heartland Poker Tour and the Epic Poker League.

It has been reported that Pinnacle is owed around $2.1 million, which it loaned FS$G earlier this year, and that it may plan to offset the loan debt against the purchase price.

The acquisition plans are to be announced soon, but it can be concluded from preliminary reports that there will be further litigation involving other creditors, to whom FS$G also owes large sums of money $ndash; it has over $8 million in debt in total, and only around $50,000 in revenues.

An interesting piece of information from the court proceeding was that FS$G registered more than 400 domain names, one of which was .com-domained epicpokerfailure website!