Ken Weitzner recently posted that Royal is about to close and said that he had inside sources as to the validity of that. This is what he is catching onto.
About a week ago I was approached by Lenny at Cascade in regards to becoming partners with Royal`s sportsbook arm. The reason for this is because there would definitely be a synergy between the 2 companies. Cascade could use the "marketing strengths" of Royal and Royal could use the "bookmaking strengths" of Cascade.
I spoke to Lenny in great detail and spoke to the CEO of Royal in great detail. I was involved in the process as far as contacting people that I know who have rather large balances but are caught up in the 5 dimes a week wd rule so that everything was open on the table. I also discussed with both parties at great detail the advantages and disadvantages of a partnership as I know both companies very very well.
On Saturday, Lenny had a third meeting with Royal`s CEO and others to finalize a deal that did not go too well. Royal and Lenny could not come to a mutually agreeable partnership, as so far as percentages are concerned so Lenny walked from the deal.That does not mean there is no deal it simply means the negotiating process will continue. I happen to think it would be a great partnership.
Obviously Lenny spoke to Ken last night about the deal for some reason ( I suspect Lenny will be as shocked as he was when Ken lied about him paying BTJ and later had to retract). Ken then told his sidekick JC (why do short fat guys always call other short fat guys midgets )and they ran with "kens version". Lenny was given and shown confidential information and I have known Lenny quite well now for about 15 years and I know he would not have ever said that Royal is closing.
Royal is not closing to my knowledge. I have received virtually no slow pay complaints in the last quarter. The ones I normally receive are related to movers and bonuses. Royals Casino is extremely profitable and is their money maker. The brand "Royal" is very saleable so I just cant see Royal going anywhere.
Now you know what really happened.