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that's it for 5dimes
closing up shop
https://www.gambling911.com/gambling...shut-down.html
San Jose, Costa Rica-based 5Dimes was right at the goal line about to enter the regulated Ontario, Canada sports betting market. But in the end it wasn't meant to be.
Sources close to the company tell Gambling911.com 5Dimes is set to close shop as early as this week, even prior to Super Bowl Sunday.
The widow of 5Dimes founder Sean Creighton has absolutely "had it" with the "incompetence", we are told and is on the "verge of a nervous breakdown".
Amazingly, 5Dimes maintained full compliance with Gaming Labs International (GLI) certification but in the end was ill-prepared to spend any additional money on other aspects of the regulatory process as the company has continued to bleed money over the years. Much of the money coming into 5Dimes has been swallowed up by three law firms representing the company with some attorneys said to be "stringing her (5Dimes founder's widow) along".
5Dimes has reportedly asked for a $30 million price to sell but will have a tough time fetching that amount. It is estimated that around a thousand customers still play at 5Dimes. While Gambling911.com cannot independently confirm, our source believes some active customers are still based out of the United States even though officially 5Dimes exited that market a few years ago. It maintains a gaming license in the Isle of Man.
They do hope to sell off some assets tied to the company prior to the closure date.
The Tragedy of 5Dimes
Sean Creighton, of Bridgeport, West Virginia resident and son of a now deceased supermarket magnate, disappeared in September of 2018. Close to a dozen individuals were captured months later as part of an international manhunt. Creighton's body would be found nearly one year from the time of his disappearance. The US Justice Department later confirmed the remains found were his.
At its height, 5Dimes was perhaps "the biggest offshore sportsbook". Gambling911 was able to verify the enormity of the 5Dimes customer data base soon after Creighton went missing.
He began the company in 1999 some time after his arrival in San Jose, Costa Rica with his then-girlfriend, who would later go on to serve as a Gambling911.com correspondent.
Sean was rumored to have been "gifted" with the online sportsbook after beating its software provider out of over a million dollars. The then owner of that gaming software firm, Al Ross, denies that claim and even went on to tell Gambling911.com his son Denny was still listed on all corporate paperwork associated with 5Dimes. Denny is currently serving a life prison sentence for the murder of his girlfriend, Hannah Hill.
Deal With the DOJ
Since his untimely death, Sean's widow, Laura Varela has run 5Dimes. She is a cosmetologist by trade and relied on Sean's trusty associates to oversee the day-to-day operations.
In September 2020, United States Attorn [...more]
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