Prime Sports declares bankruptcy

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  • Reload
    SBR Posting Legend
    • 03-23-08
    • 12253

    #1
    Prime Sports declares bankruptcy
    Has been a good book in NJ and Ohio

    The sportsbook that courts sharps is making the move in an effort to cut costs, and vows operations will continue as normal.
  • ChuckyTheGoat
    BARRELED IN @ SBR!
    • 04-04-11
    • 38573

    #2
    More to come?
    Where's the fuckin power box, Carol?
    Comment
    • dollarbill
      SBR MVP
      • 03-22-09
      • 1321

      #3
      maybe part of the Cleveland Indians pitching crew?
      Comment
      • Bluehorseshoe
        SBR Posting Legend
        • 07-13-06
        • 15082

        #4
        They're not going away. I don't understand why some of these books never advertise??
        Comment
        • dollarbill
          SBR MVP
          • 03-22-09
          • 1321

          #5
          Originally posted by Bluehorseshoe
          They're not going away. I don't understand why some of these books never advertise??
          Good question? I never heard of this group till today?? Legalizing in America. as they say... "“This is all behind-the-scenes stuff"

          Any play there? The company emphasized the same message in an email to customers.

          “Your balance, pending wagers, and future winnings are all 100% secure and guaranteed. Nothing changes in your ability to play, win, or withdraw

          Brennan pointed to New Jersey’s recent tax increase as pouring gasoline on Prime’s financial pressures. The state raised its sports betting tax to 19.75% on gross gaming revenue, affecting all operators but particularly impacting smaller books.

          This is where I connect to Cleveland.... “Got some pretty intelligent info 45 mins before the fight… dropped limits from $10K to $300.
          Comment
          • Bluehorseshoe
            SBR Posting Legend
            • 07-13-06
            • 15082

            #6
            Originally posted by dollarbill

            Good question? I never heard of this group till today?? Legalizing in America. as they say... "“This is all behind-the-scenes stuff"

            Any play there? The company emphasized the same message in an email to customers.

            “Your balance, pending wagers, and future winnings are all 100% secure and guaranteed. Nothing changes in your ability to play, win, or withdraw

            Brennan pointed to New Jersey’s recent tax increase as pouring gasoline on Prime’s financial pressures. The state raised its sports betting tax to 19.75% on gross gaming revenue, affecting all operators but particularly impacting smaller books.

            This is where I connect to Cleveland.... “Got some pretty intelligent info 45 mins before the fight… dropped limits from $10K to $300.
            I play there and got the email.....


            We’re going to be very up front and transparent. Our company has entered bankruptcy — not because we’re giving up, but because we’re taking charge. This move lets us cut unnecessary costs, rebuild the structure, and bring in new investors who believe in what we do and where we’re headed.

            Here’s the most important part: your balance, pending wagers, and future winnings are all 100% secure and guaranteed. Nothing changes in your ability to play, win, or withdraw.

            This is not the end, it’s the reset we needed. We’ve always been the home for players who expect more: sharper service, better treatment, and the kind of respect that’s hard to find elsewhere. This process gives us the foundation to hit the market even harder and keep that promise alive.

            We’re working directly with regulators, vendors, and partners to make sure we come out the other side of this even stronger. Our goal is simple: stay true to the players who’ve backed us, and come back with the same edge and energy that made us who we are.

            We know “bankruptcy” can sound scary but have no fear. We’ve got this handled, and we’re focused on the future. The team’s still here, the lights are still on, and the mission hasn’t changed.

            Thank you for sticking with us. The next chapter starts now, and it’s going to be a good one.

            The Prime Sportsbook Team

            P.S. If you have any questions about your account, withdrawals, or pending bets, our support team’s ready to help just reach out anytime. We’re here, as always.

            You can reach Member Services in a few different ways:
            On site via live chat

            Comment
            • Optional
              Administrator
              • 06-10-10
              • 62651

              #7
              Seems to be difficult for any book to copy the Pinnacle model and thrive.
              .
              Comment
              • Reload
                SBR Posting Legend
                • 03-23-08
                • 12253

                #8
                Originally posted by Optional
                Seems to be difficult for any book to copy the Pinnacle model and thrive.
                Yes, low market share and taxes involved become hard when you’re reducing juice on sports, taking large maximums from anyone, and don’t have other revenue streams like an online casino skin.

                They’ve only had two profitable years out of three, and those were just with 1-2% hold. Hope they can continue with the bankruptcy help.
                Comment
                • Vene1616
                  SBR MVP
                  • 09-20-20
                  • 1063

                  #9
                  Originally posted by Bluehorseshoe

                  I play there and got the email.....


                  We’re going to be very up front and transparent. Our company has entered bankruptcy — not because we’re giving up, but because we’re taking charge. This move lets us cut unnecessary costs, rebuild the structure, and bring in new investors who believe in what we do and where we’re headed.

                  Here’s the most important part: your balance, pending wagers, and future winnings are all 100% secure and guaranteed. Nothing changes in your ability to play, win, or withdraw.

                  This is not the end, it’s the reset we needed. We’ve always been the home for players who expect more: sharper service, better treatment, and the kind of respect that’s hard to find elsewhere. This process gives us the foundation to hit the market even harder and keep that promise alive.

                  We’re working directly with regulators, vendors, and partners to make sure we come out the other side of this even stronger. Our goal is simple: stay true to the players who’ve backed us, and come back with the same edge and energy that made us who we are.

                  We know “bankruptcy” can sound scary but have no fear. We’ve got this handled, and we’re focused on the future. The team’s still here, the lights are still on, and the mission hasn’t changed.

                  Thank you for sticking with us. The next chapter starts now, and it’s going to be a good one.

                  The Prime Sportsbook Team

                  P.S. If you have any questions about your account, withdrawals, or pending bets, our support team’s ready to help just reach out anytime. We’re here, as always.

                  You can reach Member Services in a few different ways:
                  On site via live chat
                  How much can you bet on TNF and the early Sunday game, right now? ATS/total/ml?
                  Comment
                  • Chiefs83
                    SBR MVP
                    • 08-01-16
                    • 2973

                    #10
                    TNF 12k sides
                    8,320 on total
                    Sunday (used Ravens/Browns)
                    8,560 sides
                    2,712

                    I respect they let you bet
                    Comment
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