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The sad saga of Jazz Sports continues.
Gambling911.com warned readers of scary days ahead just prior to this year's Super Bowl.
Sure enough, customers began complaining of stalled payouts...and mostly no payouts.
A Gambling911.com source based in Costa Rica where Jazz Sports is located gave us the latest updated.
"After looking into this more closely, it appears to be little more than a smoke-and-mirrors move.
"Jazz is still owned by the same principals and is being run by the same management and marketing team. Yes, Buckeye is managing the PPH side, but it is not clear whether this is simply a service agreement or some type of hybrid arrangement where they purchased a portion of the PPH package or are only providing operational support."
Buckeye is well known in Costa Rica for operating a Pay Per Head/sports betting service.
"It appears they made a deal with the Jazz owners to provide them with a PPH post-up solution at no cost for a period of time in exchange for a percentage of the PPH business.
"Buckeye has no ownership stake in Jazz," our source confirms. "They are simply the software provider. From what my own sources tell me, the owner, Lou (Robert Gurin), formerly of MyBookie and associated with G*** K*****, is still calling the shots. Day-to-day operations are reportedly being handled by Joe Criatta, a name some may remember from the BetIsland disaster several years ago involving him and SBR.
"Jazz was purchased 2 years and then run into the ground through poor management, yet the blame was shifted to the original owner by claiming they had bought a 'lemon'.
"The final act appears to be the story that the company was 'bought out again,' when in reality very little changed. That narrative seems to have been used as an excuse not to pay players with larger balances, while telling them that the new owners did not want their action and that they would need to contact the old ownership — which, in effect, appears to be the same people.
"Classic stiff the players , pad their pockets, blame on OLD ownership.. open a NEW sportsbooks .. but in this case used the same name."
Jazz Sports founder, who ran the company for three decades, told Gambling911.com exclusively he was tossed out onto the streets after selling his business.
"The deal was for 20million affective August 15th 2024 of which I was to receive 6.5 (of that) upfront and the rest over three years," founder Mike R***** tells Gambling911.com "Instead, I agreed to giving them back 5m to cover ALL player balances including the 'sharp' guys. In exchange, I would work with the company for three years and manage the lines and credit business while I was paid out the remainder of my money.
"This is all documented in emails including the player balances which included all players...nothing was hidden."
Talk about a business deal going off the rails.
"Instead, on December 9th 2024, I was attacked, kidnapped, beaten, and nearly killed by people hired by Lou and his friends," Mike tells Gambling911.com. "While I was recovering from cracked ribs and multiple abrasions requiring stitches, I was locked out of the office and they have since not only not paid me but kept the 5 million rather than pay players."
Jazz Sports was no doubt on life support prior to this deal. Since its founding in 1994, the company at times struggled but always managed to rebound. Jazz once operated four land-based casinos in Costa Rica.
During the months leading up to the August 2024 deal to sell Jazz Sports, vendors had also revealed to Gambling911 they were being stiffed.
No matter the real story, Gambling911.com advises its readers to stay clear of Jazz Sports and the disaster it has become.
- Chris Costigan, Gambling911.com Publisher
