Cascade Sports Dagger

Sports911.com Newswire

Struggling Costa Rica-based bookmaker, Cascade Sports, received a crushing blow this afternoon.  Sports911.com has learned that one of the shop's largest credit packages was yanked.  60 players in total, most of whom bet substantial amounts of money per game, will no longer utilize Cascade.  The bookmaker relies heavily on volume from such credit packages.

For more than a year now the management of offshore behemoth, Grande, has provided financial backing for Cascade.  The owner of Grande flew in to Costa Rica this past week to meet with Cascade management. 

Insiders suggest Cascade's problems are a result of sometimes reckless gambling by one of the sportsbook's primary principals.  It has become very obvious in the past year that many of Cascade's colleagues were less likely to assist the struggling enterprise, which is situated in an old coffee warehouse overlooking San Jose, Costa Rica. 

Few industry people believe Cascade will shut down without paying all remaining debts however, though it is becoming more likely the book will either cease operating or be absorbed into another company.

The founder of Cascade Sports was once a partner in San Jose, Costa Rica's most popular land based casino, Club Colonial.

Industry observers continue to study the situation.  Some optimism was brought to light on the Major Wager website earlier today prior to this important package being pulled during the afternoon hours.  This morning's announcement might hint at Grande's willingness to still back Cascade Sports.

In any event, Sports911.com cannot overemphasize caution here until this matter is all sorted out. 

Cascade Sports maintains a relatively small post up business. 

Originally published on June 22, 2004 (7:08 pm EST)