Royal Sports response

Royal Sports welcomes the opportunity of being scrutinized by its own customers and players in general. We believe this is a positive exercise that the public is not only entitled to but should become common practice with the offshore industry. This even when rumors are being initiated by disgruntled ex employees.

As far as the latest gossip/rumor goes here is Royal Sports reply:

Our former Line Manager was as part of the management that would have moved over should the Company have changed hands. In this scenario it was agreed that a 1-month fee would have been paid as a farewell gratuity.

As the Company’s plans have changed the former manager decided to move on towards new challenges. He requested a 3 months farewell gratuity that Royal Sports has decided to honor, due to the dedication and loyalty shown towards the Company in these past years.

Normally these gratuities are paid within 30 days from termination. The former Manager has asked to anticipate this term. 50% of agreed 3 months have already been paid a week ago. This past Friday Royal Sports and its former Manager have reached the common understanding that remaining balance would have been settled this coming Monday.

So far with the facts. Royal Sports will invite its former Lines Manager to post about this issue this coming Monday to either confirm or rectify information Royal is providing to the public.

Royal Sports

Nice job to come in here and post something.

thanks Royal for shedding some light on it

Royal, most of us know that many things can go wrong while working together offshore and there will always be 2 sides to every story and it should not be made public, but if we hear of customers being slow paid or checks bouncing to players, I hope you would respond on these forums just as quickly.

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> Head linesmakers and other employees severance checks bounce.
Royal claims they'll be good as soon as they have funds?
Currently over $100K owed. <HR></BLOCKQUOTE>

Appreciate your time here Royal.

Is there any truth to the statement above about in all 100K owed & checks bouncing to other than one person or anyone for that matter?

Thanks

General - The employment laws here in Curacao require 1 month of severence pay for EVERY year of employment.

So I am confused as to WHY their linesman who has been there for years only settled for 1 month of severence pay?

I want to stay out of these Royal threads but we get very irritated when B.S. is posted about Curacao.

My qualified 2 cents

Royal Sports lays out plan of action
Dear Sportsbook Review, (name edited)
It was a pleasure having the chance of talking to you last night and a good opportunity to provide you with information about the current status of Royal. Needless to say I look forward to meet you during your visit to Curacao.

As I have told you Royal has, and is experiencing changes, mostly due to the non completion of the sale of assets to Olympic. I fully understand your legitimate concerns as you have explained them to me . You are known to be the most reliable "watchdog" website and therefore I feel it is appropriate that you address your thoughts.

As I have explained to you last night Royal did have a "fall back plan" in place to ensure continuity should the Olympic deal have failed . The majority shareholder, who has been actively supporting Royal in these past years, has renewed their will to provide due assistance by all means.

As I told you there is an ongoing negotiation within shareholders as the minority shareholder has asked to be bought out. A contract draft is currently being discussed by the parties and I trust there will be a productive and positive outcome soon. This negotiation also concerns the fees of the two representatives of the minority shareholder group that where directly involved within Royal's management group.

As far as the failed deal is concerned Royal has already expressed to Olympic its intention to re purchase the goods that have been purchased by Olympic . It is firm Royal's intention to terminate this issue in a positive and friendly way as both parties, Royal and Olympic, have acted in good faith. Unfortunately good faith is not always sufficient to overcome different opinions and views.

Royal Sports has indeed changed in these past months, from a structural standpoint. The weakest point, our wagering system and web interface, has been addressed last October. This change has indeed improved cost effectiveness since 30% of the volume ( wager count ) has migrated from the phone to the web . Personnel cost has also been reduced . The previous structure was known to be overstaffed, and this has been addressed to ensure a manageable overhead.

Royal Sports' phone service provider has successfully completed the testing of the voiceoverIP solution. This new solution for the phone portion is being implemented this week and will further optimize cost effectiveness.

This coming Tuesday our newly appointed Operations Manager will release TW and CS manuals. This is intended to improve the quality of service provided by our Ticket Writers and Customer Service representatives to Royal's customers.

I will hereafter summarize in bullet points current and future short term actions :

* Resolve in a timely fashion shareholder's related issues ;

* Resolve in a positive and friendly way pending issues directly related to Olympic deal ;

* Further improve technical facilities ( voiceoverIP ) before beginning of Football Season ;

* Improve personnel skills throughout internal and external courses prior to beginning of Football Season ;

* Hire a new Marketing Manager and two new Marketing representatives ;

* Widen payment options for customers ;

* Confirm and increase Royal's marketing exposure on the Internet.

Royal Sports' main commitment is to our clientele .Even in these hectic days the Company has infused all its energies to provide the level of service our customers expect from Royal Sports. This is our milestone and our goal is to ensure a stable growth of the Company achieved by renewed and improved quality of service provided to players.

I look forward to meet you soon and show you "on site" the nature and quality of improvements we are currently implementing.

A final word of gratitude and best wishes for future professional changes goes to the managers that have decided to move forward with their working experience. Although we will most likely be competing within the industry this will not effect the friendship's relationship we have built in the past. I truly wish Marty and Scotty a deserved success from their new and future ventures.

Sincerely Yours,

Roberto Castiglioni

MD - Curaworld N.V.

General, this is part of Royal's plan of action as announced on sbr that concerns your question :

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> As I told you there is an ongoing negotiation within shareholders as the minority shareholder has asked to be bought out. A contract draft is currently being discussed by the parties and I trust there will be a productive and positive outcome soon. This negotiation also concerns the fees of the two representatives of the minority shareholder group that where directly involved within Royal's management group.

<HR></BLOCKQUOTE>

As it is common knowledge shareholders' issues are being adressed at a higher level in the Company's hierarchy and this is being currently done.

This are the facts so far. It will be our pleasure to inform the public when this issue will be resolved, hopefully within the next couple of weeks.

Yep this is another thread I should probably stay out of

Thank you kindly for an explanation.

<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR> A contract draft is currently being discussed by the parties and I trust there will be a productive and positive outcome soon. <HR></BLOCKQUOTE>

You have faith and trust there will be a positive outcome. I wouldn't expect any other attitude, but players cannot be so confident. There is to much happening with Royal for a player to feel comfortable with the current situation as I am sure you can understand as well.

Good luck to you

"As I have explained to you last night Royal did have a "fall back plan" in place to ensure continuity should the Olympic deal have failed . The majority shareholder, who has been actively supporting Royal in these past years, has renewed their will to provide due assistance by all means."

If accurate, this ought to give their remaining players some sense of security.

I still have a problem with what appears to be a breach of the Oly offer by Royal and the "Canadian investors".

General, in order to provide full information and avoid misunderstandings, please note that Royal Sports has 4 different type of contract with its personnel :

1)Consultancy contract - this kind of contract applies to management - 1 month severance
2)Indefinite contract - this applies to key personnel - 3 months severance
3)Detachment contract - this applies to special projects - 1 month severance
4)Temporary employees - hired through a service company on hourly bases - no severance

As far as the case of our former Lines Manager goes it is understood that he was entitled to no severance, as he resigned. It is also understood that the Company, as a sign of gratitude for his loyalty and dedication , has decided to reward him with a farewell gratuity equal to 3 months fee.

Royal Sports

TT,

I think Oly has a good idea of what this "fall back plan" is now.

I'm surprised you admitted offering him 1 month. I would say that is seriously low balling the guy. But the honesty is appreciated.

3 months seems reasonable on both ends. A 50% / 50% payment plan also seems fair.

However I can understand how the line manager might get nervious that the remainder might never be paid.

I would like to see this worked out to the benefit of both sides.

Let's see what happens in the next week or two. I kind of like the Royal GM. The fact that he has survived so much of this and hasn't been fired or quit says something for him.

He knows what he has to do but can he do it, I mean, can he make the Dutch do it?

Buzzsaw - I also have some Beach Front property for sale in Arizona that you might like, and I'll make you a real good deal on it.

I have completely lost faith in you and your SBR site as it seems you can be swayed with a good sales line from someone with a track record of having NO business Ethics.

Good Luck

BR, there MAY be an explanation for that.

I have read a couple of times that the $$$ from Oly was used to buy equipment. That could be....but the whole $100K?

Maybe Spiro is giving them time to liquidate what was purchased & pay him back. If he's confident in their ability to do so, it wouldn't surprise me that much.

On the other hand, maybe they paid off the players with his $$$$$.

If Royal was going to fold up & go away, you wouldn't think that they would have paid out what they have over the last week or so.

I don't have any $$$ there, but they sure don't appear to be headed towards an Aces debacle.

Hopefully this "majority shareholder" story is accurate & the guy has deep pockets. This has the potential to end up a good story for Royal and a couple forum owners who have not pushed the panic button.

I sure hope it ends well that I can guarantee you cuz the last thing this offshore biz needs is another debacle right now

BTW I knew I had to stay out of this phucking thread

IB,
They are on the RUN! List at SBR with a D- rating. Is there something about my opinion you really don't understand?

Let's see what he can do. I'm talking days not months. I still have plenty of gasoline and matches if need be.

IB, Buzz is 100% correct.....

What part of what he\SBR has said don't you agree with??????

Looks pretty damn cautiously accurate to me