Card Player Magazine’s SpadeClub closes doors

Posted by Steve Ruddock on Sep 18, 2010 Posted in Poker Site News | No Comments »

One of the, most popular, and best known, of the US legal online poker rooms has shut-down over financial concerns. SpadeClub was owned and operated by Card Player Magazine, and was a subscription based online poker room. For $20/month players could participate in tournaments that had predetermined cash-prizes, including a $5,000 weekly tournament and a $30,000 monthly tournament.

Unfortunately, it appears that handing out over $100,000 in cash prizes each month was simply too much overhead, despite a rumored 200,000 customers at SpadeClub. Card Player Magazine owner Barry Shulman summed it up this way: “We just couldn’t make it work from a financial standpoint. We were getting close to having a break even month for the first time about a year ago and then we started having processing problems that we couldn’t overcome.”

All is not lost for the site’s existing customers; SpadeClub members were greeted with the following message on the site’s homepage:

“Going forward, all SpadeClub members are being offered a chance to participate in the transition to the ZEN Entertainment Network. ZEN’s VIP program will honor all time already purchased by SpadeClub members. Basic members can continue to play for free as well.”

With a handful of similar sites is operation it will be interesting to see which ones are able to attract SpadeClub’s considerable player base.

Tags: , , , ,



Leave a Reply

Promotional News

Phil Ivey Joins Virtue Poker As Cryptocurrency Poker Room Prepares For Fall 2018 Launch
Phil Ivey has become the latest poker pro to sign up as a strategic ad …
Read more

BetOnline.ag and PokerForums.org Giveaway $208 worth of Tournament Tickets.
PokerForums.org is back online and would like to thank forum members …
Read more

WSOPE High Roller Event In The Czech Republic Attracting Top Poker Players From All Over The World
King’s Casino in Rozvodov, Czech Republic has the reputation for hav …
Read more

Stars Group Launches New Poker Game PokerStars Power Up
Stars Group Incorporated has launched a new online poker game called P …
Read more