AmWest bankruptcy?

[newsbuster]

a recent Paulick Report story tells a troubling story about the rebate site Amwager. Looks like the majority owner has all sorts of lawsuits pending and for serious money.

http://www.paulickreport.com/news/ra...to-bankruptcy/

From the article:

A lending institution and three Thoroughbred businesses have filed an involuntary Chapter 11 bankruptcy petition against Nelson E. Clemmens, founder and chief executive officer of Amwest Entertainment, a Prospect, Ky., company that operates an advance deposit wagering business, off-track wagering facilities in South Dakota and West Virginia, and a simulcast distributorship for such international events as the Dubai World Cup and Prix de l’Arc de Triomphe.

... The petition states several other creditors have obtained judgments against Clemmens in court, but that he has demonstrated “an ongoing refusal” to pay them.

[Keeneland Dan]

scary stuff for anyone playing w them good thing I dont

[golfer]

I do play through Amwest, and I inquired when I heard about this last week. I was told (not by Amwest, but an "in the know" 3rd party) that this is a Corporate dispute between the 2 owners. Also, they are licensed in Oregon, which per statute requires player balances to be held in separate segregated accounts.

[AGameofSkill]

Originally Posted by golfer

I do play through Amwest, and I inquired when I heard about this last week. I was told (not by Amwest, but an "in the know" 3rd party) that this is a Corporate dispute between the 2 owners. Also, they are licensed in Oregon, which per statute requires player balances to be held in separate segregated accounts.

Just because it is required, doesn't mean it is happening. It's a big risk. Just ask the Full Tilt Poker customers.