Press releases that appeared on Yahoo more than 2 years ago. I distinctly remember a press release that had Cashew as the parent company of VIP. There is a 5% chance I am wrong.
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LegalBook / Five Card Charlie / Fair Deal answers ROO.....
- Thread starter FCCSportsbook
- Start date
VIP Sports was mentioned in this press release for Caskew.
03/24/99 PRN Global Entertainment Holdings Signs Third Licensee For New Online Sportsboo...
Global Entertainment Holdings Signs Third Licensee For New Online Sportsbook & Casino
Licensing Agreement with Cashew Corporation Responds To Popularity of Internet Gaming
March 24, 1999 10:52 AM
OMAHA, Neb., March 24 /PRNewswire/ -- In a deal that responds to consumer popularity of online gaming, Interactive Gaming & Wagering N.V. (IGW), an owned subsidiary of Global Entertainment Holdings/Equities, Inc. GAMM , today announced that it will license its proprietary Internet & Telephony Sportsbook System (ITSS) software to Cashew Corporation N.V., an online sportsbook and casino operator. The deal is expected to generate $1.5 million in revenue for IGW over the three-year term of the contract, and includes an initial set up fee for customized Web site development, hardware and software installation, monthly maintenance fees, as well as software licensing royalties.
The agreement calls for IGW to develop Cashew Corporation's sportsbook and casino sites -- www.fairdealsports.com and www.fairdealcasino.com -- that will utilize IGW's software solution. The project is expected to be completed in July 1999, when Cashew Corporation will open its new Web sites to online gaming consumers worldwide.
"Our job is to help Cashew Corporation create sportsbook and casino sites that provide consumers entertainment, excitement and information so they can make educated decisions about their wagers," said Bryan Abboud, president of IGW. "We are pleased to be working with Cashew Corporation on a site that will challenge other online gaming companies."
Designed to provide ease of use for both consumers and online gaming operators, IGW's software will enable Cashew Corporation to have full oversight in accounting and reporting, numerous security layers and a multi- lingual interface. IGW's ITSS software will allow Cashew Corporation to provide to its consumers lines, odds, live scores, information on teams and players, match-up and injury reports, game schedules, and sports news.
Cashew Corporation is in the process of becoming a member of the Interactive Gaming Council (IGC), which is the self-regulatory organization of the online gaming industry.
"IGW's gaming software expertise will enable us to build a full service online sportsbook and casino that will attract consumers from around the globe," said Joseph Finkle, manager of Cashew Corporation. "With the growing popularity of online gaming, we intend to offer customers an exciting way to wager."
VIP Sports, another IGW licensee, has been using IGW's ITSS at its Web site, www.vipsports.com, since 1997. IGW also recently signed a deal with the Awakati Corporation to customize the ITSS software for the online gaming site www.sportsbetonline.com.
Founded in 1999 and headquartered in Willemstad, Curacao, Cashew Corporation is an entrepreneurial company that is making its entrance into the online gaming industry.
"Cashew Corporation selected the location of Curacao due to the island's favorable oversite of Internet gaming operations and because IGW has established itself there," commented Finkle.
With headquarters in Omaha, Nebraska, Global Entertainment Holding/Equities, Inc. was founded in 1997 and provides financial consulting, investment banking and funding for its subsidiary, IGW. IGW, based in Willemstad, Curacao, developed the Internet & Telephony Sportsbook System, a leading turnkey software package for online sportsbook operators.
(This news release contains certain forward looking statements about the company that are based on management's current expectations and is not intended to suggest the future performance of the company.)
SOURCE Global Entertainment Holdings/Equities, Inc.
03/24/99 PRN Global Entertainment Holdings Signs Third Licensee For New Online Sportsboo...
Global Entertainment Holdings Signs Third Licensee For New Online Sportsbook & Casino
Licensing Agreement with Cashew Corporation Responds To Popularity of Internet Gaming
March 24, 1999 10:52 AM
OMAHA, Neb., March 24 /PRNewswire/ -- In a deal that responds to consumer popularity of online gaming, Interactive Gaming & Wagering N.V. (IGW), an owned subsidiary of Global Entertainment Holdings/Equities, Inc. GAMM , today announced that it will license its proprietary Internet & Telephony Sportsbook System (ITSS) software to Cashew Corporation N.V., an online sportsbook and casino operator. The deal is expected to generate $1.5 million in revenue for IGW over the three-year term of the contract, and includes an initial set up fee for customized Web site development, hardware and software installation, monthly maintenance fees, as well as software licensing royalties.
The agreement calls for IGW to develop Cashew Corporation's sportsbook and casino sites -- www.fairdealsports.com and www.fairdealcasino.com -- that will utilize IGW's software solution. The project is expected to be completed in July 1999, when Cashew Corporation will open its new Web sites to online gaming consumers worldwide.
"Our job is to help Cashew Corporation create sportsbook and casino sites that provide consumers entertainment, excitement and information so they can make educated decisions about their wagers," said Bryan Abboud, president of IGW. "We are pleased to be working with Cashew Corporation on a site that will challenge other online gaming companies."
Designed to provide ease of use for both consumers and online gaming operators, IGW's software will enable Cashew Corporation to have full oversight in accounting and reporting, numerous security layers and a multi- lingual interface. IGW's ITSS software will allow Cashew Corporation to provide to its consumers lines, odds, live scores, information on teams and players, match-up and injury reports, game schedules, and sports news.
Cashew Corporation is in the process of becoming a member of the Interactive Gaming Council (IGC), which is the self-regulatory organization of the online gaming industry.
"IGW's gaming software expertise will enable us to build a full service online sportsbook and casino that will attract consumers from around the globe," said Joseph Finkle, manager of Cashew Corporation. "With the growing popularity of online gaming, we intend to offer customers an exciting way to wager."
VIP Sports, another IGW licensee, has been using IGW's ITSS at its Web site, www.vipsports.com, since 1997. IGW also recently signed a deal with the Awakati Corporation to customize the ITSS software for the online gaming site www.sportsbetonline.com.
Founded in 1999 and headquartered in Willemstad, Curacao, Cashew Corporation is an entrepreneurial company that is making its entrance into the online gaming industry.
"Cashew Corporation selected the location of Curacao due to the island's favorable oversite of Internet gaming operations and because IGW has established itself there," commented Finkle.
With headquarters in Omaha, Nebraska, Global Entertainment Holding/Equities, Inc. was founded in 1997 and provides financial consulting, investment banking and funding for its subsidiary, IGW. IGW, based in Willemstad, Curacao, developed the Internet & Telephony Sportsbook System, a leading turnkey software package for online sportsbook operators.
(This news release contains certain forward looking statements about the company that are based on management's current expectations and is not intended to suggest the future performance of the company.)
SOURCE Global Entertainment Holdings/Equities, Inc.
3rd&Long,
You are absolutely correct about the lack of timeliness.
But I see no twisting of truth. In fact, I have seen nothing that would challenge any of the facts presented by Mike. Those facts would include the companies named and the process by which Five Card acquired the accounts of Fairdeal. Most of the rest I would call opinion.
What I see is an attempt to publicly justify their actions.
You may question that explaination, wording, tone, etc... but the facts that were shown appear to be all in order.
I question calling post-up money a "loan" and blaming Roo for betting into a poorly managed shop, but they read to me as opinions, not facts.
Five Card may ultimately be responsible for Roo's account, but until the trail of legal ownership can be determined, responsibility is still a question mark.
My main reason for that statement was to publicly acknowledge a book making a public stand on a controversial topic.
Unlike another recent book who kept posting BS in response to a simple question, Mike did address the issue head-on.
You may not have liked that explaination, but at least he provided one.
Thank you,
Joe
You are absolutely correct about the lack of timeliness.
But I see no twisting of truth. In fact, I have seen nothing that would challenge any of the facts presented by Mike. Those facts would include the companies named and the process by which Five Card acquired the accounts of Fairdeal. Most of the rest I would call opinion.
What I see is an attempt to publicly justify their actions.
You may question that explaination, wording, tone, etc... but the facts that were shown appear to be all in order.
I question calling post-up money a "loan" and blaming Roo for betting into a poorly managed shop, but they read to me as opinions, not facts.
Five Card may ultimately be responsible for Roo's account, but until the trail of legal ownership can be determined, responsibility is still a question mark.
My main reason for that statement was to publicly acknowledge a book making a public stand on a controversial topic.
Unlike another recent book who kept posting BS in response to a simple question, Mike did address the issue head-on.
You may not have liked that explaination, but at least he provided one.
Thank you,
Joe
It is the same as FDIC works a small bank people will only be protected up to 100,000 but a major money center bank no one penny would be lost. What five card did was a good thing but Roo should have known something was going on why in the world would he leave that much in his account.
Roo could you please tell us why you left so much at your account at fairdeal. This should all teach us take regular payouts no matter what sportsbook.
Roo could you please tell us why you left so much at your account at fairdeal. This should all teach us take regular payouts no matter what sportsbook.
"but after I read Roo’s half-truths"
WHAT WERE THEY? That he was owed money by Fair Deal? It's not twisting the truth to suggest that ROO was owed not by Fair Deal, but by Cashew NV? It was Cashew NV DBA Fair Deal. 5CC bought Fair Deal, no matter their "bank loan" spin. Reasonable people would say that was twisting the truth. Courts in the US would not allow this type of ownership transfer in which you get all assets but can discard liabilities.
LOANS?
That's as twisted as it gets.
"We weren’t going to let your reckless LOAN prevent the rest of Cashew’s NV’s clients from getting paid their money in full."
I guess that statement isn't twisted , either.
WHAT WERE THEY? That he was owed money by Fair Deal? It's not twisting the truth to suggest that ROO was owed not by Fair Deal, but by Cashew NV? It was Cashew NV DBA Fair Deal. 5CC bought Fair Deal, no matter their "bank loan" spin. Reasonable people would say that was twisting the truth. Courts in the US would not allow this type of ownership transfer in which you get all assets but can discard liabilities.
LOANS?
That's as twisted as it gets.
"We weren’t going to let your reckless LOAN prevent the rest of Cashew’s NV’s clients from getting paid their money in full."
I guess that statement isn't twisted , either.
I've been reading this thread today in two of the forums. It's just not possible, and certainly unnecessary, to try to add anything really new and original to the debate. Therefore, I would like to express my own thoughts by commending/condemning those of my fellow posters.
DITTOS = I couldn't have said it better myself!
DITTOS GO TO:
Buzzsaw
cjd333
ModernDayWarrior
Slouch
KUDOS= Honorable Mention - great posts!
KUDOS GO TO:
LV711
bettorstalk.com
BettingProphets
max1234
NOT QUITE a ZERO, but AWFULLY CLOSE!:
Yogi
Joe
Loman
Tex
ZERO: NO CREDIBILITY. Read any of his posts - they explain this rating.
THE BIG RASPBERRY GOES TO:
STINGCC
BEST 9 WORD POST: Pirate's
DITTOS = I couldn't have said it better myself!
DITTOS GO TO:
Buzzsaw
cjd333
ModernDayWarrior
Slouch
KUDOS= Honorable Mention - great posts!
KUDOS GO TO:
LV711
bettorstalk.com
BettingProphets
max1234
NOT QUITE a ZERO, but AWFULLY CLOSE!:
Yogi
Joe
Loman
Tex
ZERO: NO CREDIBILITY. Read any of his posts - they explain this rating.
THE BIG RASPBERRY GOES TO:
STINGCC
BEST 9 WORD POST: Pirate's
Was it my grammar or my punctuation?
Reputation as a ladies man. She hates sluts. /infopop/emoticons/icon_biggrin.gif
3rd&Long,
"It was Cashew NV DBA Fair Deal"
Was it? Is that how they were legally set up? Or was Fair Deal merely a name with no official standing.
"It's not twisting the truth to suggest that ROO was owed not by Fair Deal, but by Cashew NV? "
It depends. The questions is how was Fair Deal set up?
"5CC bought Fair Deal"
What consideration did Cashew receive?
From Mike's post, the accounts were acquired from the software company. This leads to the obvious question - How did the software company come into possession of the accounts?
What was their relationship with Cashew with regard to Fair Deal?
You cannot make that statement without knowing these facts.
"Courts in the US would not allow this type of ownership transfer in which you get all assets but can discard liabilities"
Probably not.
However we are not talking about the US, but Curacao (and I am completely ignorant of their laws, but would be surprised if they permitted the raping of a company).
The issue still revolves around the relationship between Cashew and the software company and who owned what.
This is the crux of the issue and until this is known, all conclusions are premature.
"LOANS?
That's as twisted as it gets."
I would not call that twisted fact. It is an opinion.
My opinion is that post-up monies are deposits.
""We weren’t going to let your reckless LOAN prevent the rest of Cashew’s NV’s clients from getting paid their money in full."
I guess that statement isn't twisted , either."
Correct, it is an overly emotional comment that was inappropriate and unprofessional.
I dislike repeating myself, but it appears to be necessary:
"I am unfamiliar with the contract between Fairdeal and the software provider, perhaps the accounts were pledged as collateral for the software/URL lease or perhaps there was some other arrangement...
Regardless, if the accounts were indeed owned by the software provider, then they are responsible for paying Roo off, not Five Card.
If the accounts were owned by Cashew NV, then they are still responsible for paying Roo off and Five Card is party to an illegal act - the purchase of accounts from the software provider who did not own them - and should immediately rectify that.
As Sting has noted, perhaps the software provider (do these guys have a name?) may have had some stake in the book.
Their relationship with Fairdeal (and more importantly the determination of ownership of the accounts) needs to be known before responsibility for Roo's account can be determined."
Thank you,
Joe
PS. MadameX,
A little belated, but Welcome to our site!
I am sorry if factual analysis does not fit into your view on this issue.
However, that is how I look at things and it is not changing.
"It was Cashew NV DBA Fair Deal"
Was it? Is that how they were legally set up? Or was Fair Deal merely a name with no official standing.
"It's not twisting the truth to suggest that ROO was owed not by Fair Deal, but by Cashew NV? "
It depends. The questions is how was Fair Deal set up?
"5CC bought Fair Deal"
What consideration did Cashew receive?
From Mike's post, the accounts were acquired from the software company. This leads to the obvious question - How did the software company come into possession of the accounts?
What was their relationship with Cashew with regard to Fair Deal?
You cannot make that statement without knowing these facts.
"Courts in the US would not allow this type of ownership transfer in which you get all assets but can discard liabilities"
Probably not.
However we are not talking about the US, but Curacao (and I am completely ignorant of their laws, but would be surprised if they permitted the raping of a company).
The issue still revolves around the relationship between Cashew and the software company and who owned what.
This is the crux of the issue and until this is known, all conclusions are premature.
"LOANS?
That's as twisted as it gets."
I would not call that twisted fact. It is an opinion.
My opinion is that post-up monies are deposits.
""We weren’t going to let your reckless LOAN prevent the rest of Cashew’s NV’s clients from getting paid their money in full."
I guess that statement isn't twisted , either."
Correct, it is an overly emotional comment that was inappropriate and unprofessional.
I dislike repeating myself, but it appears to be necessary:
"I am unfamiliar with the contract between Fairdeal and the software provider, perhaps the accounts were pledged as collateral for the software/URL lease or perhaps there was some other arrangement...
Regardless, if the accounts were indeed owned by the software provider, then they are responsible for paying Roo off, not Five Card.
If the accounts were owned by Cashew NV, then they are still responsible for paying Roo off and Five Card is party to an illegal act - the purchase of accounts from the software provider who did not own them - and should immediately rectify that.
As Sting has noted, perhaps the software provider (do these guys have a name?) may have had some stake in the book.
Their relationship with Fairdeal (and more importantly the determination of ownership of the accounts) needs to be known before responsibility for Roo's account can be determined."
Thank you,
Joe
PS. MadameX,
A little belated, but Welcome to our site!
I am sorry if factual analysis does not fit into your view on this issue.
However, that is how I look at things and it is not changing.
11 posts and you are boss. I still say ask some owners and mangers in Curacao about them they have good things to say about five card. Hey hey they still posted that shows they care more than other places like NASA and Intertops that never post in a bad tight spot.
My bad-Roo's major win was a bunch(60K on one round robin bet), but it was in July 2000, so he had time to pull money out. I would love to know if this guy was just a sharp, part of a syndicate, or what? Why wouldn't 5 Card just ante up half of what was owed him to make this go away? Why would he be willing to settle for half? There is so much we don't know here.
Fair Deal(OSGA endorsed) was incredibly easy to beat--lines that seldom moved, bad lines, reversed lines, etc.
Fair Deal(OSGA endorsed) was incredibly easy to beat--lines that seldom moved, bad lines, reversed lines, etc.
Damn.I'm dead in the water.Just have to concentrate on LadyO and Angelle.Oh and maybe Grantt.
I think you're alive with all three. Whether that's good or bad I have no idea. /infopop/emoticons/icon_razz.gif
They had been advertising on RX too.
Five Card still posted NASA or Intertops never post i a bad tight spot.
Five Card still is a legit joint they posted on big 3 sites.
Five Card still posted NASA or Intertops never post i a bad tight spot.
Five Card still is a legit joint they posted on big 3 sites.
olddog,
He agreed to take half because they told him they werent paying him his 86k.
As for 5 card charlie it took them damn long enough to come and post about this.
Joe,
I don't care about the legality part of it as you are talking about a book in another country so like if they were or weren't legally responsible anything could be done.
the fact remains is they assumed the fairdeal debts and paid them all except Roo!! That is not right.
They assumed the debts for the website fairdeal and hopes that the players would continue to play there and that they 5 card charlie would come out ahead in the deal with all of the new players. Of course throw out Roo since he was owed by far the largest amount.
My question is this what was the next largest amount owed to a player?
Why can't 5 card charlie work something out with Roo?? He offered to take half. You're telling me they can't work anything out? They are a Knight in shinning armor for the sports betting world as you can read about it directly from Mike Fine on how they didn't have to take care of anyone or get involved. They wanted to protect the good standing image of the industry....Except for Roo.
He agreed to take half because they told him they werent paying him his 86k.
As for 5 card charlie it took them damn long enough to come and post about this.
Joe,
I don't care about the legality part of it as you are talking about a book in another country so like if they were or weren't legally responsible anything could be done.
the fact remains is they assumed the fairdeal debts and paid them all except Roo!! That is not right.
They assumed the debts for the website fairdeal and hopes that the players would continue to play there and that they 5 card charlie would come out ahead in the deal with all of the new players. Of course throw out Roo since he was owed by far the largest amount.
My question is this what was the next largest amount owed to a player?
Why can't 5 card charlie work something out with Roo?? He offered to take half. You're telling me they can't work anything out? They are a Knight in shinning armor for the sports betting world as you can read about it directly from Mike Fine on how they didn't have to take care of anyone or get involved. They wanted to protect the good standing image of the industry....Except for Roo.
How many posts does this Roo have. It was his fault for not posting stuff too on RX and MW when this first happened.
It wouldn't have changed anything. Fairdeal didn't have the money and FCC won't eat that big of a hickey so it wouldn't have mattered. If he was one of the small players he would have gotten paid. It's as simple as that.
As far as Fine coming out and posting vs NASA and a few others just hiding I do agree it took some guts. And it shows he respects these forums. But it was very poorly done and I would have to rate it a PR failure.
As far as Fine coming out and posting vs NASA and a few others just hiding I do agree it took some guts. And it shows he respects these forums. But it was very poorly done and I would have to rate it a PR failure.
It was a lose lose case but it does show they care much like other sportsbooks I have a relationship with.
You're exactly right.
