| View previous topic :: View next topic |
| Author |
Message |
PokerWolf1
Full House
Joined: 23 Jan 2012
Posts: 979
Location: Wolverhampton
|
 Posted: Tue Apr 24, 2012 5:00 pm
Post subject: Re: 2+2 Thread - Pokerstars Purchase Full tilt |
  |
|
Is it just me who would actually still play on Full Tilt? I loved the software. Shame it was such a sham. Lot's of pro's and con's to this. Didn't have a lot of money on FT but did have thousandssssss of player points. I don't like Stars though. For someone that doesn't have a great deal of free time to play poker anymore I hate seeing 20000 entrants in a tournament. Much prefer to play a tournament on Genting in that sense even if I am giving up a ton of value.
_________________
Master of Puppets I'm Pulling Your Strings!
@PremierWanderer |
|
| Back to top |
|
 |
gherkin
Trips
Joined: 21 Jul 2007
Posts: 108
|
Posted: Tue Apr 24, 2012 5:00 pm
Post subject: Re: 2+2 Thread - Pokerstars Purchase Full tilt |
|
|
Wow, I guess the fact this hasn't been deleted/discredited means there must be some truth in it.
Obviously until we here something official then it's hard to know what's going to happen |
|
| Back to top |
|
|
SecretSqirel
Trips
Joined: 15 Oct 2010
Posts: 142
|
Posted: Tue Apr 24, 2012 5:07 pm
Post subject: Re: 2+2 Thread - Pokerstars Purchase Full tilt |
|
|
| Quote: | | UPDATE: PokerUpdate has received information from credible sources at Full Tilt offices in Cherry Wood, Dublin that PokerStars have indeed purchased the Full Tilt assets. |
http://pokerupdate.com/news/the-full-...-full-tilt-poker/ |
|
| Back to top |
|
|
SecretSqirel
Trips
Joined: 15 Oct 2010
Posts: 142
|
Posted: Tue Apr 24, 2012 5:09 pm
Post subject: Re: 2+2 Thread - Pokerstars Purchase Full tilt |
|
|
Quadjacks on twitter:
| Quote: | | We will be going live to speak with Tom Victor @egamingreview in just a few minutes. #RedTuesday |
http://quadjacks.com/poker-radio/ |
|
| Back to top |
|
|
SecretSqirel
Trips
Joined: 15 Oct 2010
Posts: 142
|
Posted: Tue Apr 24, 2012 5:28 pm
Post subject: Re: Tapie Deal Dead - Pokerstars Purchase Full tilt |
|
|
Tapie Group Statement:
| Quote: | Groupe Bernard Tapie regrets to announce that, after seven months of intensive work, our efforts to obtain final approval of the United States Department of Justice of the agreement to acquire the assets of Full Tilt Poker have ended without success.
Ultimately, the deal failed due to two major issues.
The parties could not agree on a plan for repayment of ROW players.
GBT proposed a plan that would have resulted in immediate reinstatement of all ROW player balances, with a right to withdraw those funds over time, based on the size of the player balance and the extent of the player’s playing activity on the re-launched site. All players would have been permitted complete withdrawal of their balances, regardless of whether they played on the site, by a date certain, and 94.9% of ROW players would have been fully repaid on day 1. DOJ ultimately insisted on full repayment with right of withdrawal within 90 days for all players– a surprise demand made in the 11th hour, after months of good-faith negotiations by GBT.
The legal complications surrounding the deal – specifically, questions surrounding the legality of the forfeiture under non-US laws – also proved unresolvable.
All of the key assets of the FTP companies reside outside of the United States. A non-US court well might regard the purported forfeiture as a “fraudulent transaction” and declare it invalid or deem the acquirer of the assets responsible for all of those creditor obligations.
Given the $80 million purchase price, and the substantial amount of cash needed to relaunch FTP, those issues ultimately proved too substantial to overcome.
GBT is very conscious of the hopes it has created – among FTP employees that they will retain their jobs, among FTP players that they will recover their balances, and among the entire poker community that the world’s finest poker platform will be relaunched and bring a needed added element of competition to a world market that today is fully dominated by a single operator.
GBT cannot accept the end of those hopes.
For that reason, unless a concrete and legally viable solution is found in the very coming days to save the employees and repay the players of FTP, we will move to our own plan of action.
We understand from press reports that the DOJ may have entered into an agreement with PokerStars pursuant to which PokerStars will acquire the FTP assets.
If accurate, we can only assume that PokerStars determined that it was willing to accept these legal and financial risks in order to resolve its own legal situation with DOJ.
If a PokerStars acquisition of FTP means that all FTP players will be fully repaid immediately, we are very happy for the players, as their final and full repayment has always been our priority.
We only regret that such a deal would signal further consolidation of a poker market already dominated by a single player – an outcome that may raise antitrust concerns and that, in the long run, is probably not good for players and for the whole online poker industry.” |
|
|
| Back to top |
|
|
ryanpb
Full House
Joined: 11 Oct 2005
Posts: 1500
Location: Moseley
|
Posted: Tue Apr 24, 2012 5:30 pm
Post subject: Re: Tapie Deal Dead - Pokerstars Purchase Full tilt |
|
|
If true, this must have something to do with the American market as alluded to.
Stars already have the majority of tilts players and comparable software.
They wouldn't buy full tilt for marketing purposes as it tainted goods.
_________________
@ryanpb |
|
| Back to top |
|
|
gandalf55
Wizard
Joined: 28 Jun 2006
Posts: 2552
Location: London
|
Posted: Tue Apr 24, 2012 5:33 pm
Post subject: Re: 2+2 Thread - Pokerstars Purchase Full tilt |
|
|
| PokerWolf1 wrote: | | Is it just me who would actually still play on Full Tilt? I loved the software. Shame it was such a sham. Lot's of pro's and con's to this. Didn't have a lot of money on FT but did have thousandssssss of player points. I don't like Stars though. For someone that doesn't have a great deal of free time to play poker anymore I hate seeing 20000 entrants in a tournament. Much prefer to play a tournament on Genting in that sense even if I am giving up a ton of value. |
This.
I've actually stopped playing on Pokerstars about a month ago. Just ridiculous now. $10 cash games and $5 SnG's are full of MT regs. Tournaments at my buy-in level have fields so big they just take too long and I can't get motivated to play them. I'd certainly play on FT if stars owned them from day one. Playing on 888 (massively improved software) and a little on Party at the moment.
_________________
I'narr en gothrim glinuva nuin I'anor
Gurth gothrim Tel'Quessir |
|
| Back to top |
|
|
Nem
Moderator
Joined: 26 Apr 2005
Posts: 17174
|
|
| Back to top |
|
|
knifeboy62
Full House
Joined: 05 Nov 2006
Posts: 1428
Location: Bristol
|
Posted: Tue Apr 24, 2012 5:44 pm
Post subject: Re: Tapie Deal Dead - Pokerstars Purchase Full tilt |
|
|
| _ryanpb_ wrote: | If true, this must have something to do with the American market as alluded to.
Stars already have the majority of tilts players and comparable software.
They wouldn't buy full tilt for marketing purposes as it tainted goods. |
I suppose one of the considerations for them was not being tainted by the failure of US players to get back their FTP money. Even though it was another company they both look shadier when one fails. By doing this it will be easier for them to counter the US lobbyists from the land based casinos groups as there will be less mud to sling in their direction to prevent/delay their re-entry into US market at some point.
It probably doesn't make sense in the short run but it has significant medium term upside and it doesn't hurt to become the super dominant player outside of the US.
Now if only they would remove Daniel's face from their site I could stomach it enough to open an account, if he pops up on a reopened FTP site too then I will not be happy.
_________________
"Brandon Uhl @BrandonUhl
@knifeboy62 @limonpoker Ty mike love your poker game your a boss" - lolz |
|
| Back to top |
|
|
ryanpb
Full House
Joined: 11 Oct 2005
Posts: 1500
Location: Moseley
|
Posted: Tue Apr 24, 2012 5:56 pm
Post subject: Re: Tapie Deal Dead - Pokerstars Purchase Full tilt |
|
|
My two cents
Tapie deal fails > DOJ worry US citizens won't get their money back to spend on new US poker websites > DOJ go to stars to ask them to buy stars out in return for not getting hit with the massive fine and legal action > stars agree and by doing so eliminate next biggest competition to the rest of the world market > stars get to run new US site probably on FTP software and cut US government in on the action
_________________
@ryanpb |
|
| Back to top |
|
|
pembo
Full House
Joined: 20 Mar 2011
Posts: 1020
Location: Marske-by-the-Sea/Cambridge
|
Posted: Tue Apr 24, 2012 6:01 pm
Post subject: Re: 2+2 Thread - Pokerstars Purchase Full tilt |
|
|
| PokerWolf1 wrote: | | Is it just me who would actually still play on Full Tilt? I loved the software. Shame it was such a sham. Lot's of pro's and con's to this. Didn't have a lot of money on FT but did have thousandssssss of player points. I don't like Stars though. For someone that doesn't have a great deal of free time to play poker anymore I hate seeing 20000 entrants in a tournament. Much prefer to play a tournament on Genting in that sense even if I am giving up a ton of value. |
This was discussed before, pretty much a full conclusion that people would play back on FTP, it's not the site that was dodgy, it was the people running it. |
|
| Back to top |
|
|
maxwell675
Full House
Joined: 16 Nov 2008
Posts: 956
Location: Devon
|
|
| Back to top |
|
|
dwh103
Flush
Joined: 26 Jan 2007
Posts: 715
Location: Southampton, England
|
Posted: Tue Apr 24, 2012 6:30 pm
Post subject: Re: Tapie Deal Dead - Pokerstars Purchase Full tilt |
|
|
| _ryanpb_ wrote: | My two cents
Tapie deal fails > DOJ worry US citizens won't get their money back to spend on new US poker websites > DOJ go to stars to ask them to buy stars out in return for not getting hit with the massive fine and legal action > stars agree and by doing so eliminate next biggest competition to the rest of the world market > stars get to run new US site probably on FTP software and cut US government in on the action |
I had similar thoughts re: some kind of deal to operate in the US.
If true, neutral at best for the online poker community imo.
_________________
My blog: http://thepokerlifeofdave.blogspot.com/ |
|
| Back to top |
|
|
tommymac
Chip Collector
Joined: 05 Jun 2009
Posts: 2590
Location: walsall
|
Posted: Tue Apr 24, 2012 7:16 pm
Post subject: Re: Tapie Deal Dead - Pokerstars Purchase Full tilt |
|
|
| Quote: | | gimme a ****in break, pokerstars is so ****in sweet and ppl are bitching about them buying ftp and saving all our asses? its amazing that ppl will find anything to bitch about just to keep ppl feeling as ****ty as they do |
- 2+2 mttc thread.
seriously ill just be glad to get my money back, short term its a great deal but long term not so good if sites like party cant be competitive with stars
_________________
#whenwillitend |
|
| Back to top |
|
|
StGilmore
Straight Flush
Joined: 12 May 2010
Posts: 2825
Location: nil fhios agam
|
Posted: Tue Apr 24, 2012 7:33 pm
Post subject: Re: Tapie Deal Dead - Pokerstars Purchase Full tilt |
|
|
| knifeboy62 wrote: | | _ryanpb_ wrote: | If true, this must have something to do with the American market as alluded to.
Stars already have the majority of tilts players and comparable software.
They wouldn't buy full tilt for marketing purposes as it tainted goods. |
I suppose one of the considerations for them was not being tainted by the failure of US players to get back their FTP money. Even though it was another company they both look shadier when one fails. By doing this it will be easier for them to counter the US lobbyists from the land based casinos groups as there will be less mud to sling in their direction to prevent/delay their re-entry into US market at some point.
It probably doesn't make sense in the short run but it has significant medium term upside and it doesn't hurt to become the super dominant player outside of the US.
Now if only they would remove Daniel's face from their site I could stomach it enough to open an account, if he pops up on a reopened FTP site too then I will not be happy. |
+1 !
Any chance this was all in the works and therefore stars gotta a little 'zoom' software giftie?
_________________
"I find it's best to start the day with no composure and then you've got nothing to lose." B. Boatman
http://midlifepoker.blogspot.com/
http://outthescammers.blogspot.com/ |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Profile
Log in to check your private messages
