Talking to several parties, but no official bid has been made yet. Site will be sold as soon as a bid has been made.
With the large amount of rake the site was taking in (well over what the site was costing), how is it in debt? What happened to cause this? As a potential buyer, this is a huge red flag to me and is something I feel really needs clarified. If a business earns more than it's spending, it can't be in debt. So there was something else going on as well...
He may have not been the best person to manage finance.I to was in a similar situation and with the marketing costs, all kinds of promotions and payments to team mates managed to be in debt the whole time running a smaller kind of poker operation.So i was just very bad at finanance, but since he mentioned also the miss carriage of hes child i would think that he is not in the best shape to run a business and lots of earnings have been used in hes personal life as well.
What i'm saying is that the business itself may be fine, but the leader itself not so much.
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