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

PokerStars NJCOOP Will Have 46 Events And $1.2 Million In Prize Money To Be Won
New Jersey, Nevada and Delaware are currently the only three states in …
Read more

King’s Casino Welcomes The Dutch Poker Classic This Month
The prestigious establishment that is the King’s Casino will play ho …
Read more

MPN Poker Tour Will Return To Tallinn, Estonia And Kick Things Off From October 19
The MPN Poker Tour will be back in Tallinn, the capital of Estonia in …
Read more

Partypoker Continues Rebuilding Process By Signing Fedor Holz As New Brand Ambassador
Partypoker announced last year that it was going to focus on rebuildin …
Read more