Card Player Magazine’s SpadeClub closes doors

Posted by Steve Ruddock on Sep 18, 2010 Posted in Poker 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

High Stakes News

Promotional News

Introducing the New and Improved Bad Beat Jackpot 2.0
Prepare for an exhilarating upgrade to our renowned Bad Beat Jackpot, …
Read more

Promo Code TTOPS100 BetOnline.ag Offers 100% Poker Bonus Match and FreeRoll Tournament
BetOnline.ag, a popular online gaming site, has unveiled a new promoti …
Read more

10 reasons to play Poker at BetOnline in 2019
2019 seems to be the year poker players search for a new poker site to …
Read more

UK And EU Poker Players Should Check Out The New One Time Poker Website
Most poker players in the European Union and United Kingdom may not be …
Read more