Caesars Entertainment<\/a>‘s bankruptcy drama in 2015 was major and ongoing. Embroiled in the kind of complex financial restructuring that is meant to preserve a business but that often leaves its employees by the wayside, Caesars drew ire and criticism this year when it reportedly deprived\u00a0279 current and former Caesars executives and directors some $78.6 million because of a deferred compensation program.<\/p>\nA reported 15,000 note holders of various sorts were left waiting for whatever piece of the pie the courts and the restructuring will utimately throw at them, but it seems unlikely that any of the deferred payment will ever be seen by said execs. We are guessing the lawyers will make out the best in this situation, as is often the case in protracted legal battles over money.<\/p>\n
Bad Bluff<\/h2>\n
Not quite as grand a breakdown, but BLUFF Magazine also hit the skids in 2015. A\u00a0longtime member of the poker community, BLUFF, founded in 2004, shut down the print version of the magazine a few years ago after it was acquired by Churchill Downs, Inc. and switched a lot of the focus to coverage of the online poker world.<\/p>\n
But earlier this year, the magazine shuttered the digital operation as well and let go of all of its staff, ending a run of, at one time, one of the world’s largest gaming periodicals.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ah yes, gaming scandals and bankruptcies. Why must this be a category in gambling news at the end of every year? Because, unfortunately, bankruptcies and scandals are seemingly inevitable in a high-stakes world where fortunes are won and lost in a matter of seconds. 2015 was not immune to scandalous news, including a whopper involving […]<\/p>\n","protected":false},"author":42,"featured_media":32439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,10,19,13,18],"tags":[],"acf":[],"yoast_head":"\n
Gaming Scandals and Bankruptcies in 2015: Sports and Gambling's Megastories of the Year<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n