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| Posted By : TOW - 4/4/2005 3:22 PM |
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The unfolding of latest events may indicate this being the case. It is saddening to witness new slow pay reports increasing by the hour, embarassing to hear the sound of silence instead of the expected explanations from the book's management.
We cannot think of any logical explanation of what is going on in these hours. Our utmost concern goes to players funds. While certain of Royal's ownership financial reserves, the mounting problem doesn't seem to be adressed with the switness required by players' concerns.
Despite this gray scenario we have found new hope in learning that one of the most prominent offshore bookmakers is ready to save the book. His committment stands as the brightest of the stars in the darkest night.
We invite all owed players to post in this thread.
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| Posted By : Walk of Life - 4/4/2005 3:39 PM |
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Roberto;
It's a dark hour indeed. The publication of Tej owning Royal was a blow too severe to endure, even for Kevin.
In all seriousness I want to ask and with no intention of being caustic:
Why did you keep the fact that Tej had become part of the ownership of Royal?
As much as I understand, you were the one who set up the sale for Tej to come in almost 2 years ago. Why would you not mention it before, knowing exactly this was a time bomb? Did you not think that at the moment of this being brought to the public light, it would most definitely take Royal down in flames?
Will you now step up to occupy a prominent position in this bail-out scene? Very commendable if so, but why would you conceal information like this from the very players you will now try to help?
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| Posted By : drunkguy - 4/4/2005 4:23 PM |
I believe this story was released by Sting/G911 years ago, either nobody cared then or nobody believed him
Roberto is also obviously in a conflict-of-interest situation if he was involved in the sale |
| Posted By : TOW - 4/4/2005 4:51 PM |
| Explanation is very simple Walk. When documents were signed I was under a non disclosure agreement. Same as when I left on December 7th 2003. Obviously this requirement is no longer in place since the legal entity retaining the rights over non disclosure is in liquidation. As far as i am concerned I can attest that during the period August 2nd 2003 - December 7th 2003 ( while I was at the helm of the Company ) there were no slow pays and other creditors were current. |
| Posted By : bigboydan - 4/4/2005 6:22 PM |
| well roberto, if anyone knows what the real story was back then and might be right now. odds are you would know better than the rest of us here or no ? |
| Posted By : Walk of Life - 4/4/2005 6:27 PM |
Oh c'mon BBD... the man needs no strokes...
Roberto:
When documents were signed I was under a non disclosure agreement. Same as when I left on December 7th 2003. Obviously this requirement is no longer in place since the legal entity retaining the rights over non disclosure is in liquidation
As much as I would like to go deep into the issue, I must admit I can't bust your balls over a non-disclosure contractual agreement.
Sad case what has happened at Royal, in my view it has been bad business decision, after bad business decision... one of top of the next one.
It's almost like a book could be written on how to kill a cash cow in 3 years and make money off of it. You will excuse my sense of humor, I've always been a prick.
I only hope the industry will still see one more bailout, this time by a company that won't be in need of being bailed out themselves, a couple of years after.
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| Posted By : TOW - 4/4/2005 6:40 PM |
Will,
I know you better than that. We may disagree at times but I know you're an honest reporter of what goes on in the industry and I'm honored to have you posting here.
I believe there has been a slight misinterpretation of the news posted on TOW earlier today. I would be more inclined to say that this scenario foresees a firesale, not a bailout. I am aware of the content of the offer, which is definitely not a bailout. The ball is in Royal's court. They have to decide what to do : stir the ship right, keep it this way or sell. Only time will tell what their decision will be. |
| Posted By : drunkguy - 4/4/2005 6:51 PM |
Roberto said...
I would be more inclined to say that this scenario foresees a firesale, not a bailout.
What's the difference? If a buyout offer is not made or accepted, does that mean you believe that Royal will pay all debts (whether they continue on and try to rebuild or decide to close their doors and chalk it up as a bad investment)?
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| Posted By : TOW - 4/4/2005 7:12 PM |
Drunkguy,
I honestly pray for an happy ending. Too many things going on behind the scenes at this point in time to predict which will be the final outcome. I have faith. |
| Posted By : Walk of Life - 4/5/2005 2:48 PM |
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Thanks for the replies, Roberto.
In your opinion what are the chances of the other owners of Royal buying out Tej, paying all payout requests promptly and moving on?
Sounds like the only way to end this mess, at this point.
It's gotta be either that or a firesale, not a bailout...  |
| Posted By : TOW - 4/5/2005 3:59 PM |
Will,
I believe there is a major flaw in your question......let me say it this way : I've never seen the owner buying himself out.
To their credit I must report that they are trying hard to catch up on slow pays. Players are still very nervous but the fact that scattered payments are going out is a relief to many. |
| Posted By : Walk of Life - 4/5/2005 4:14 PM |
TOW said...
Will,
I believe there is a major flaw in your question......let me say it this way: I've never seen the owner buying himself out.
To their credit I must report that they are trying hard to catch up on slow pays. Players are still very nervous but the fact that scattered payments are going out is a relief to many.
I see what you're saying Roberto. The reason why I ask is because I was under the impression that Tej was only a PARTIAL owner, in which case it would have been a feasible thing for the OTHER owners to buy him out. But given your answer, are we to understand that Tej is the majority share holder in BetRoyal?
GraZie, caro.
Post Edited (Walk of Life) : 4/5/2005 4:19:39 PM (GMT-4)
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| Posted By : TOW - 4/5/2005 4:18 PM |
Will,
My previous post contains the reply to your last question.
p.s. Grazie, one z ;)
Post Edited (TOW) : 4/5/2005 4:27:53 PM (GMT-4)
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| Posted By : Walk of Life - 4/5/2005 4:21 PM |
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Then for Royal, getting out of this pickle will be as easy as getting a booger out with boxin' gloves on...
P.S.: "My previous post contains the reply your to your last question" ... Just one 'your'
where's the phuck-off smilie? 
Post Edited By Moderator (TOW) : 4/5/2005 4:29:07 PM (GMT-4)
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| Posted By : drunkguy - 4/5/2005 6:03 PM |
Bookmaking has always been an industry of TRUST between book and player
especially in the post-up era, when you are sending off your money before even losing it
That is where Royal is really screwing themselves here...I have to think that everything would have been a lot easy if they just said who owned the place right off the bat
Yes, you might have had some players leave because of that association, but guess what? Now they are gone anyway on the rumors, but now you are also losing a lot of other players who maybe don't care about ownership but want out because they are scared off by this whole debacle
we have Tej with "no ownership", "20% ownership", "full ownership", depending on who you talk to
If players can't trust them to be up-front about an issue like this, how are they going to trust them enough to send a few dimes to them, trust them to pay off large bets, etc?
never mind that whole gun issue, the "Showdown at the C.R. Corral" is more than enough to scare off the average joe. |
| Posted By : Walk of Life - 4/5/2005 6:09 PM |
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Agree 100%, DG... it seems like you're in one of those moments of clarity... hey?
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| Posted By : drunkguy - 4/5/2005 6:37 PM |
Walk of Life said...
Agree 100%, DG... it seems like you're in one of those moments of clarity... hey?
hey, been sober for almost 40 hours now, guess the brain is back to functioning "normally"
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| Posted By : Oldfriend - 4/5/2005 8:01 PM |
After speaking to numerous people in the sportsbook industry..And the employees who also stand behind the sportsbook..I would think and hope that this will overcome, and all will be fine for Royal sports..We are not talking a sportsbook that has just open up..We are talking about a sportsbook that has been around since day one offshore...We are talking about a sportsbook that has many many non forum players..we are talking about a sportsbook that has just spent a ton on a move to Costa Rica..Lets stop that crap and let actions speak louder then words..I am yet to see the hundrends of slow pay no pay threads that we have seen from other REAL no pay books in the past..lets see some braise from royals players that have been paid this week..lets see some postive threads and not Royals darkest hours stuff! I give Royal credit for standing tall in Royals darkest hour and look foward of given this sportsbook my support in the future..we don't need posts about Royal from people that don't even have a damn account there. I happen to know people with money at Royal sportsbook, and they are doing just fine..STOP THE CRAP AND LET ACTION SPEAKING LOUDER THEN WORDS..Give them time and all will be fine!
You can take that to the bank!
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| Posted By : TOW - 4/5/2005 8:06 PM |
Oldie,
I have edited a couple of words and the direct reference to a player you made in your post. Towforum doesn't appreciate useless conflicts between posters. We encourage factual discussions.
Remaining within the aforementioned domain ( facts ) I would invite you to be consistent with your private statements. Enough said. |
| Posted By : Oldfriend - 4/5/2005 8:09 PM |
Heck,
Posting at OGD Is so easy and ruleless..
Thanks alot pal
all we need is bonus!
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| Posted By : TOW - 4/5/2005 8:14 PM |
Oldie,
I would like to build a place where serious discussions may take place in harmony, and I am certain you will be easily able to adapt to this simple rule. You can be a tremendous source of information given your direct experience with many books. Towforum wants the best Oldie can give. |
| Posted By : Oldfriend - 4/5/2005 8:18 PM |
Roberto,
Think my problem is i need to read your post 3 times to understand what your say..My post are simple..I say F U to agenda driven people..I say whats up to the rest! No rules and i also post at times naked! There might be too much thinking here at your fine forum for me brother..I speak and then think !
all we need is bonus!
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| Posted By : sheva - 4/6/2005 2:07 AM |
Well, if thats the way you act in forums, I suggest (in a friendly way) that you stay out of this forum. It is crearly not what Roberto whats in this forum, and this we/you have to respect.
Just my opinion, I have no personally problems with you what so ever! |
| Posted By : slash - 4/6/2005 5:25 AM |
| Shut up Old... Nobody gives a shit about your opinion anyway. Robbie from APEX is still a great guy, remember??? LOL |
| Posted By : Oldfriend - 4/6/2005 9:07 AM |
Slash,
Did you ever make a statement that someone was good and turned out he was not? Yes as i said at the time he was a stand up guy! I STILL STAND BY THAT STATEMENT WHEN I MADE IT! As far as Roberto, and HIS FORUM..I could careless if he likes or dislikes my post..He has the mighty power at tow to rip me apart, ban me. delete me, and take me outside..But i know whatever i do here at tow i am always right!!!!!!!!!!!!!!!!!!
all we need is bonus!
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| Posted By : slash - 4/6/2005 11:12 AM |
| Old, yes I did.. but I wasn't posting 25 hours per day that he/she was the greatest person on earth. |
| Posted By : marc - 4/7/2005 1:17 PM |
Roberto,
I feel like when I read your possts, I get mixed messages about ROyal. On the one hand I recall where you indicated that the current owners have more than suffcient funds to pay players. On the other hand you are reporting taht they owe vendors in the the 6 figures. So does this mean that they have money, but don't want to pay, or does it mean that perhaps they don't have as much money as you thought.
Also how serious are the discussion regarding the sale of Royal. Is it fair to assume that the possible buyer is already aware of most of the current financial issues facing royal.
I'm just trying to understand your opinion of how safe Royal is. |
| Posted By : TOW - 4/7/2005 3:33 PM |
marc,
Royal's owners have more money than any normal person could dream of. The problem is managing money in a fashionable way, pay when people expect you to do so and not when external pressure obliges you to comply.
The bookmaker who has made himself available to purchase Royal Sports has good knowledge of current state of the Company. |
| Posted By : drunkguy - 4/7/2005 4:18 PM |
| marc - glad to see you over here |
| Posted By : marc - 4/7/2005 6:02 PM |
So Roberto,
Wuold you agree that its a fair assumption that either the current owners will either continue to pay the players or sell the book. |
| Posted By : TOW - 4/7/2005 8:05 PM |
marc,
Only time will tell. I am currently dealing with a truly disgusting situation that Royal left behind in Curacao. If they want to keep the book they must work really hard to fix all the mistakes they have made. |
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