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Will Daybreak games shut down in 2 months?

Discussion in 'EverQuest II General Discussion' started by Sweatypie, Apr 23, 2018.

  1. Fuli

    Fuli Well-Known Member

    And that is exactly what is going on.

    It is not uncommon for investment companies to set up a web of shell companies to:

    1. Obfuscate: Muddy the waters
    2. Tax strategy: shuffle shares around between entities to manage tax avoidance strategies.
    3. Liability: insulate potential liabilities of any entity from infecting the others, including the parent company.
    4. Executive/Partner compensation: rather than taking cash, a managing partner can take shares, to again, better manage tax exposure.

    Lots and lots if games a can be played with these structures.

    I also find the idea that reporting CN as the buyer and managing entity was (a) erroneous, and (b) never noticed by Daybreak to be ludicrous, stretching DBG's propensity to spin a a web of absolute bullsh*t to an entirely new level.

    It seems more likely CN did fund the sale either directly or indirectly, and the executed shell company strategies they had in place to move stuff around.

    Neither the treasury dept not the fbi will be phased by this. They see this stuff all the time, and more often than not, if they choose to start digging, they WILL find othet stuff.

    Just depends on how interested they are in looking down this particular rabbit hole.

    Dbg's attempt to bullsh*t and distort their way out of this is some funny stuff, and only serves to reinforce the shady and shoddy way they market their business.

    Epstein might very well have bailed on CN, but the only way to know for sure is to start walking back the paper trails and see what actually is what.

    Edit: gotta admit, this is some damn good entertainment! /popcorn
     
    Last edited: Apr 24, 2018
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  2. Feldon

    Feldon Administrator Staff Member

    The comments thread over at Massively is fascinating. People making very good points. In the end, it won't be the U.S. Government that makes things impossible for Daybreak to continue. It's risk-averse credit card processors, banks, rental companies, and internet hosting services.
     
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  3. Shmogre

    Shmogre Active Member

    Related: A commenter on the Massively article pointed out that the Columbus Nova Technology Partners site still lists Epstein as a managing director, including the following in the description:

    "On behalf of CN, Jason’s primary investment areas of focus are CIFC, (Nasdaq:CIFC) a fundamentals-based relative value asset management platform with AUM of approximately $12.3B. Jason is active on the Board of Directors and a member of the company’s Management Committee directing key strategic initiatives; and CN’s technology and media investment platform. In this capacity, Jason sits on a variety of Boards of Directors, including Rhapsody Music International (Chairman), Day Break Games (Chairman), GenePeeks, and 300".

    (waybac link just in case it gets scrubbed)
     
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  4. Feldon

    Feldon Administrator Staff Member

    Also I expect the e-mail trail is going to seal some fates. When your bosses' e-mails are signed Columbus Nova, it's kinda hard to deny it later. I wonder if they've been directed to delete all past e-mails mentioning CN.
     
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  5. Fuli

    Fuli Well-Known Member

    Now, we're gonna see just how valuable DBG is to whomever actually owns it.

    They may escape the June shut down order (for now), but this is going to be a massive head ache in the mean time. As Feldon noted, there are going to be a lot of interested parties who want answers, and who for liability reasons, are likely to initiate their own investigations.

    Be interesting to see what happens. But I can assure you, this frenzied attempt to hide sh*t, mislead, and rewrite what actually happened is not going to be well received.
     
    Last edited: Apr 24, 2018
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  6. Feldon

    Feldon Administrator Staff Member

    Scott dug this up:
     

    Attached Files:

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  7. Feldon

    Feldon Administrator Staff Member

    So every Daybreak employee has been lied to for the last 2+ years?
     
  8. Cindrax

    Cindrax Active Member

    Had my suspicions when they got bought up by an russian investment firm. Seeing the information that is presented I am even more suspicious that CN is/have been using DBG to laundry money. I have absolutely zero evidence of this, more then the set up with different shell companies, no clear owner, false press releases and so on.

    Something is really fishy.. that is for sure though.

    Popcorn is ready!
     
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  9. Anaogi

    Anaogi Active Member

    Welp! Fun while it lasted, I guess!

    /wanders into the distance, singing "It's A Long Way To Tipperary" badly
     
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  10. Endymion

    Endymion Active Member

    I'm bummed about the prospect of my friend's potentially having issues with their jobs but...

    [​IMG]

    [​IMG]
     
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  11. Anaogi

    Anaogi Active Member

    This will hands down be the most effed-up way for an MMO to go down, bar none...
     
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  12. WitlWogue

    WitlWogue New Member

    I don't know what's more wildly outlandish. This, or the fact that it doesn't feel particularly out of step for the company.
     
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  13. Sweatypie

    Sweatypie Active Member

    You gotta remember that DBG have their entire legal team working on not getting affected by this by finding every single loop hole.

    Big corps always finds a way and DBG will find a way to avoid getting hurt by this too, even if it means lying. I also dont think anyone with the expertise and budget will have the budget or even the interrest in investigation this from A to Z, unless Mueller finds more dirt on Mr. Viktor.

    While its nice MassivelyOP is reporting on this and have been following up so far, no one else is even mentioning it.
     
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  14. Uxtalzon

    Uxtalzon Member

    I was saying this way back after Landmark!

    Launch a poorly broken game with no chance of success, shut it down right after New Year's. Mark off everything, give nothing back to players, give it zero value. That lets them say they put <insert money here> into Landmark and have nothing as a result, therefore all expenses can be put directly into losses.

    Daybreak also does most micro-transactions via a fake middle-man currency they created, but claim it has no value. Harder to tax, which is why practically every online game does it.
     
  15. Feldon

    Feldon Administrator Staff Member

    That's more telling of how completely irrelevant Daybreak Games is in the overall gaming industry.
     
    Last edited: Apr 24, 2018
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  16. Dizzy

    Dizzy Active Member

    Guess we have to wait to the June deadline to see what actually happens to DBG.
     
  17. Fuli

    Fuli Well-Known Member

    In legal terms, you might be right.

    However, that's not where the immediate threat is.

    First, as already mentioned, there are service providers they need to do any kind of business who are not going to be pleased.

    Secondly, give the social media a few days. Let's not forget, this is a company that is already on shakey ground for its reputation and business practices.

    At some point, people are going to put the narrative together that the money they have been paying to DBG has been directly or indirectly supporting Russians engaging in illegal and shady activities, and the company is obviously acting to cover up their connections to said Russians.

    People aren't dumb.

    Course.......eq2 IS the home of tbe international society of bubble gnomes, so who knows, they may throw even more money at the company.
     
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  18. Feldon

    Feldon Administrator Staff Member

     
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  19. Dizzy

    Dizzy Active Member

    If I still worked in the IT game and I worked at DBG I would be looking for a new employer but then again I had some principles, not many mind you having done a stint in management :)
     
  20. Uxtalzon

    Uxtalzon Member

    For Feldon, in case he's in contact with anyone as I certainly am not.

    Another IP was editing before "Daybreakpr" on the wikipedia page(s), listed as an IP.

    Whois lookup:

    network:Org-Name:Renova US Management Group, LLC
    network:Street-Address:900 Third Ave 19th floor
    network:City:New York
    network:State:NY
    network:Country:US

    You know, Renova Group.... the parent company of Columbus Nova. LOL
     
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