UPDATE:

It turns out that this story was based on a hoax. CNBC's Darren Rovell tried to find anecdotes about businesses losing money as a result of the NBA lockout on Twitter last November.

Some high school student responded via e-mail and acted like he owned a high-class escort service in New York City.

He deceived Rovell, us, and the vast majority of the sports blogosphere.

We apologize for the error, and we'll do our best to avoid these errors in the future.

You can read the whole story from Deadspin here >

ORIGINAL POST:

Businesses like hotels, restaurants, and bars are losing tons of money because of the NBA Lockout, as expected.

But another, unexpected business is losing money: escort services.

According to Darren Rovell of CNBC, a man, who runs an escort business in New York, is down about 30%.

He charges between $400 and $4,000 for his escorts, and takes a 65 to 80% cut. He often sets up NBA players and high profile fans with his escorts.

The service owner told CNBC: "There are replacements but they aren't as consistent and not nearly as high paying."