SBR review: BetPanam

BetPanAm (SBR rating F-) Defunct sportsbook to pay 76 cents on the dollar.

However some players will not receive any payment at this time and according to insiders, this group of players is set to be stiffed completely.

VIP Sports (SBR rating A+) acquires BetOnGames (SBR rating A-).

Already fully under VIP management, VIP Sports makes the move to acquire a 100% interest in BetOnGames(BOG). BOG was part of the highly touted big 3 new sportsbooks of 2003. BetJamaica (SBR rating A+) backed by Olympic and BetOnGames have been successful star performers while BetPanAm (SBR rating F-), proved to be nothing more than an amateur run sportsbook that eventually failed. The move to acquire BOG makes the 3rd VIP acquisition in as many months.

Good News for BetPanAm (SBR rating F-) players in the works

A potential breakthrough in the BetPanAm stalemate could result in all players who have not been paid to be paid in full. Sources inside Panama report that in the past 24 hours "...significant progress has been made and we hope to announce news soon but as of now it's not a signed deal". SBR has been asked not to report names or terms of the arrangement.

BetJamaica (SBR rating A+)

nearing 1st year anniversary and a lock to be the most successful launch of a new sportsbook in many years. Combine the financial strength of Olympic with the customer service skills of BetJamaica's top man, Scotty Johnson, the final result is a sportsbook that players really enjoy. From the three upstarts from 2003, BetPanAm (SBR rating F-) has failed, BetOnGames (SBR rating A-) has done very well but BetJamaica has seen much higher volume and is the clear winner from the three promising entries of 2003.

Olympic Sports (SBR rating A+) meets with SBR in Jamaica

Olympic to submit a comprehensive master license proposal to the government of Panama today that includes money for the repayment of defunct BetPanAm player liabilities. Olympic's 8 year rein here in Montego Bay, Jamaica will likely continue possibly until after the superbowl in 2005.   

BetPanAm (SBR Rating F-) officially closes its doors

- BestLinesSports to move into the former premises of BetPanAm. Possibility that old PanAm accounts will be absorbed by BestLineSports, with a roll-over requirement. $500,000 bond put up by BetPanAm may now be dispersed, although local politics are likely to slow this process down

Rating Change: BetPanam

BetPanam lowered from F+ to F-

SBR Bill Dozer reports:

BetRoyal pays player outstanding balance in full after management learns it is unlikely player will receive funds from BetPanAm

BetPanAm (SBR rating F+)

Under pressure from BetRoyal CEO and aspiring watchdog, Roberto C., BetPanAm set to begin settling payouts this coming week

BetPanAm(SBR rating F+)

actively seeking loans from bookmakers to stay afloat as hope fades

BetPanAm

(SBR rating F+) Sources tell SBR that long awaited funding will finally come through - The CEO of an SBR top 5 Recommended sportsbook comments after SBR asked if they have written off their debt to BetPanAm?; "No, absolutely not. I expect them to pay the $XX,XXX dollars they owe, they have assured me that they will...I expect to be paid"

BetPanAm(SBR rating F+)

The Major reporting BetPanAm is closing

Rating Change: BetPanam

BetPanam lowered from D- to F+

Rating Change: BetPanam

BetPanam Legendz raised from C to C+, BetPanAm lowered from D to D-

BetPanAm

(SBR rating D) details on management/principal changes stall

Rating Change: BetPanam

BetPanam lowered from C- to D

BetPanAm

(SBR rating C-) dogged by complaints of Neteller payout requests given only the option for Western Union - BetPanAm admits a change of CEO and lack of planning caused short term slow pays - SBR initially downgraded PanAm on Jan 2nd, 2004 and extended that downgrade today to an SBR rating of C-

Rating Change: BetPanam

BetPanam Olympic, BetJamaica raised from A to A+, BetPanAm lowered from B- to C-

BetPanAm (SBR rating B) and BetCascade (SBR rating B-) receive extortion notes from cyber criminals