Fleet Street Faces Closure on 'Chaotic Economy'

27 October 2008

Fleet Street Games, a subscription-based online poker site, will close on Oct. 31 after the nascent company revealed a "chaotic economy" had adversely affected its business.

"When we launched Fleet Street Games, we fully expected that we could weather a reasonable amount of time until we had the volume of players we needed to make the company viable," the Las Vegas company said on its Web site. "But as a result of the chaotic economy, things changed, and we had to make a very tough decision."

Fleet Street was the brainchild of Dan Goldman, who served formerly as the vice president of marketing for PokerStars and, separately, for Duplicate Poker. Fleet Street hard-launched in September.

Software for Fleet Street was developed by Advanced Global Applications, an Austin, Texas, company that owns Poker Pages, a popular Web portal, and Poker School Online. Advanced Global Applications also licenses software to a poker room called BugsysClub, which is licensed in CuraƧao and takes American play.

Mr. Goldman, Fleet Street's president and chief executive, declined to comment on the development, but, in an e-mail to IGamingNews, said that his company is seeking alternative financing in hopes of staying open beyond Oct. 31.

Chris Krafcik is the editor of IGamingNews. He lives in St. Louis, Mo.