Breaking News: Pokerstars, Full Tilt in court to discuss sale

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05-09-2012, 11:45 PM
Dan Druff

Breaking News: Pokerstars, Full Tilt in court to discuss sale

Rumors are that players will be paid within 90 days.

:yes

Quote:

It has come to our attention that representatives of Full Tilt Poker and Poker Stars are in the USA today to come to settlements about the ‘purchase’ and agreements between both companies and the Department of Justice.

This news is positive re-enforcement that Full Tilt players will be getting their money soon (less than 90 days) and that the deal is still going to happen. As with all cases of this matter, information is not being released by either company until finalized.

The agreement would mean hundreds of millions of dollars to be paid to the US government in order to be on ‘good terms’ again and clear any future liabilities of Poker Stars during the purchase of Full Tilt’s assets. Full payment by PokerStars to US citizens for defrauded money by ex-Full Tilt owners will be paid immediately. This has been a clear necessity by the DOJ for ANY deal to go through and is one reason why Bernard Tapie would not purchase Full Tilt Poker. According to Tapie, the DOJ would not allow sufficient time (90 days) to generate revenues to pay back player balances.

http://www.compatiblepoker.com/poker...urt-today/5921

However, the fight isn't over yet.

There is the following new rumor:

Quote:

Update from a 2nd hand source about major ex-US sites: “Heard that PStars/Tilt/UB/AP went in front of judge in New York….had all their shit sorted out…but then the District Attorney from Kentucky showed up and had their hand open asking 125 million from each site and if they don’t fork it over, they are going after domains to seize them…..“
05-10-2012, 07:52 PM
DannyDeadWood

Quote:

Originally Posted by Dan Druff

Rumors are that players will be paid within 90 days.

:yes

http://www.compatiblepoker.com/poker...urt-today/5921

However, the fight isn't over yet.

There is the following new rumor:

Quote:

Update from a 2nd hand source about major ex-US sites: “Heard that PStars/Tilt/UB/AP went in front of judge in New York….had all their shit sorted out…but then the District Attorney from Kentucky showed up and had their hand open asking 125 million from each site and if they don’t fork it over, they are going after domains to seize them…..“

A District Attorney from Kentucky just "showed up" in a NY court room and made demands? I find this hard to believe. The DoJ is running this show.

I can't help but believe PS has received some assurances from the DoJ about future online poker considerations in the US. Without PS the Full tilt situation has 3 options, Slim, None and Tapie and Slim and Tapie just left town.
05-11-2012, 07:08 PM
hotshott74

Something I been meaning to ask, what are the chances the big name pro's are included as part of the potential deal (e.g. Ivey, Dwan, Antonious, etc). Would they still have existing contracts or no?
05-11-2012, 11:04 PM
Mantis Toboggan

Quote:

Originally Posted by hotshott74

Something I been meaning to ask, what are the chances the big name pro's are included as part of the potential deal (e.g. Ivey, Dwan, Antonious, etc). Would they still have existing contracts or no?

Their contracts have to be voided by this point
05-12-2012, 07:33 AM
hotshott74

Quote:

Originally Posted by Mantis Toboggan

Quote:

Originally Posted by hotshott74

Something I been meaning to ask, what are the chances the big name pro's are included as part of the potential deal (e.g. Ivey, Dwan, Antonious, etc). Would they still have existing contracts or no?

Their contracts have to be voided by this point

Figure as much, but you would think that they would want to include a couple as part of the deal (Ivey, Dwan, etc). If the pro's were serious about getting a deal done they may have thrown there names in the ring to go to Stars to add more value for the deal. I guess I just see more things part of this deal than dropping the charges by the DOJ, being able to get back into the market, software, and no additional competition. Very high $ to get back.

Here is another article on the pending deal: http://www.gaming-awards.com/NEWS/archives/9101
05-15-2012, 02:45 AM
JesusChrist

Fuck yes I can get my $53 dollars back. Life is good.
05-15-2012, 04:24 AM
Salty_Aus

I have a different take on all of this.

The DOJ cluster-fucked this whole situation.
They're only interested in cash and when FT went belly up they looked like idiots.
This was a money grab by the DOJ full stop!

That French guy is obviously bent and greedy and he was trying to screw the payers to play through to get paid and the DOJ were never going to permit this.
Pokerstars were the obvious solution, cut them a deal and take a lot less cash then you originally thought you'd steal and everyone gets paid, I hope Pokerstars are screwing the DOJ for a decent deal, if Isai doesn't want to deal with them they'll never get him out of Israel or see anymore $
Players get no cash and DOJ looks like a bunch of incompetent idiots.
I think Pokerstars have them over a barrel to a large degree.

I know stars have ripped off player points and done some dodgy shit, but I'm in Isai's corner here.
Even the FT guys have some sympathy as far as I'm concerned. Howard aint a bad guy, his intentions were not crooked, CF is a saint of the pokerworld. (guy still drives an old car and lives a reasonably normal lifestyle)
Yeah yeah they didn't see this coming, so they're stupid!
05-15-2012, 05:04 AM
Steve-O

Quote:

Originally Posted by Salty_Aus

I have a different take on all of this.

The DOJ cluster-fucked this whole situation.
They're only interested in cash and when FT went belly up they looked like idiots.
This was a money grab by the DOJ full stop!

That French guy is obviously bent and greedy and he was trying to screw the payers to play through to get paid and the DOJ were never going to permit this.
Pokerstars were the obvious solution, cut them a deal and take a lot less cash then you originally thought you'd steal and everyone gets paid, I hope Pokerstars are screwing the DOJ for a decent deal, if Isai doesn't want to deal with them they'll never get him out of Israel or see anymore $
Players get no cash and DOJ looks like a bunch of incompetent idiots.
I think Pokerstars have them over a barrel to a large degree.

I know stars have ripped off player points and done some dodgy shit, but I'm in Isai's corner here.
Even the FT guys have some sympathy as far as I'm concerned. Howard aint a bad guy, his intentions were not crooked, CF is a saint of the pokerworld. (guy still drives an old car and lives a reasonably normal lifestyle)
Yeah yeah they didn't see this coming, so they're stupid!

Why would the DOJ care about their public image taking a hit if players are not repaid? PokerStars is not going to get a firesale deal, nobody is. The DOJ holds ALL the cards, they are like the mobsters in the scene in Goodfellas, "fuck you, pay me!"
05-15-2012, 05:18 AM
Salty_Aus

Quote:

Originally Posted by Steve-O

Quote:

Originally Posted by Salty_Aus

I have a different take on all of this.

The DOJ cluster-fucked this whole situation.
They're only interested in cash and when FT went belly up they looked like idiots.
This was a money grab by the DOJ full stop!

That French guy is obviously bent and greedy and he was trying to screw the payers to play through to get paid and the DOJ were never going to permit this.
Pokerstars were the obvious solution, cut them a deal and take a lot less cash then you originally thought you'd steal and everyone gets paid, I hope Pokerstars are screwing the DOJ for a decent deal, if Isai doesn't want to deal with them they'll never get him out of Israel or see anymore $
Players get no cash and DOJ looks like a bunch of incompetent idiots.
I think Pokerstars have them over a barrel to a large degree.

I know stars have ripped off player points and done some dodgy shit, but I'm in Isai's corner here.
Even the FT guys have some sympathy as far as I'm concerned. Howard aint a bad guy, his intentions were not crooked, CF is a saint of the pokerworld. (guy still drives an old car and lives a reasonably normal lifestyle)
Yeah yeah they didn't see this coming, so they're stupid!

Why would the DOJ care about their public image taking a hit if players are not repaid? PokerStars is not going to get a firesale deal, nobody is. The DOJ holds ALL the cards, they are like the mobsters in the scene in Goodfellas, "fuck you, pay me!"

US payers and ROTW don't get paid, Isai stays in Israel and refuses to budge.
Players whining and the DOJ most importantly can't show a profit.
Yeah they look like cocks for not doing any due diligence on FT's liquidity and look like dills right now.
Not trying to argue, I see your point. Isai wants this gone without doubt... FT guys want closure too, giving up their company seems equitable.
DOJ are a bunch of crooks, that's how we differ.
Obviously the DOJ shopped this deal to Stars after they realised Tapie wasn't worth dealing with, or stars lawyers maybe... both parties want to deal I feel.
05-15-2012, 06:48 AM
Steve-O

Quote:

Originally Posted by Salty_Aus

Quote:

Originally Posted by Steve-O

Why would the DOJ care about their public image taking a hit if players are not repaid? PokerStars is not going to get a firesale deal, nobody is. The DOJ holds ALL the cards, they are like the mobsters in the scene in Goodfellas, "fuck you, pay me!"

US payers and ROTW don't get paid, Isai stays in Israel and refuses to budge.
Players whining and the DOJ most importantly can't show a profit.
Yeah they look like cocks for not doing any due diligence on FT's liquidity and look like dills right now.
Not trying to argue, I see your point. Isai wants this gone without doubt... FT guys want closure too, giving up their company seems equitable.
DOJ are a bunch of crooks, that's how we differ.
Obviously the DOJ shopped this deal to Stars after they realised Tapie wasn't worth dealing with, or stars lawyers maybe... both parties want to deal I feel.

The DOJ shutdown a shady company, that's their job, regardless of the amount of money they are out. They were in a win/win situation: Either FT pays them (and don't forget all of the accounts they froze with millions of dollars in them) or they don't pay because they are insolvent and the DOJ is just doing it's job.... Now obviously it was a cash-grab, but regardless of the monetary outcome they still win.
05-15-2012, 07:02 AM
Salty_Aus

Quote:

Originally Posted by Steve-O

Quote:

Originally Posted by Salty_Aus

US payers and ROTW don't get paid, Isai stays in Israel and refuses to budge.
Players whining and the DOJ most importantly can't show a profit.
Yeah they look like cocks for not doing any due diligence on FT's liquidity and look like dills right now.
Not trying to argue, I see your point. Isai wants this gone without doubt... FT guys want closure too, giving up their company seems equitable.
DOJ are a bunch of crooks, that's how we differ.
Obviously the DOJ shopped this deal to Stars after they realised Tapie wasn't worth dealing with, or stars lawyers maybe... both parties want to deal I feel.

The DOJ shutdown a shady company, that's their job, regardless of the amount of money they are out. They were in a win/win situation: Either FT pays them (and don't forget all of the accounts they froze with millions of dollars in them) or they don't pay because they are insolvent and the DOJ is just doing it's job.... Now obviously it was a cash-grab, but regardless of the monetary outcome they still win.

FT were not shady, stupid and greedy sure but not really shady.
Stars are not shady.
AB UB pffft now they're shady.
DOJ goes after poker... come on buddy this is a no brainer. They don't give a fuck about poker, you can play it in China/Russia/even Iran. This isn't about justice.
Dikshit made it too easy for them, same with Neteller.

They did good hey?
Thousands of people screwed, hundreds of millions owed. No poker in the US for no good reason other then a final cash-grab before the regulators take over. And right now there is hundreds of really shady operators in the market. SWC? LOL
DOJ is crooked and often absurd in who they go after. Go after the Wall Street bankers who are getting $50 million dollar golden handshakes for losing billions and hiding how they were doing it creatively.

I'm a DOJ hater simple I guess. The NY branch should be drawn and quartered.
06-29-2012, 12:47 AM
craftbeerdrinker

It's been 6 weeks, what's the word on payment?
06-29-2012, 08:48 AM
jsearles22

Quote:

Originally Posted by craftbeerdrinker

It's been 6 weeks, what's the word on payment?

6 weeks = 42 days. Payment projection was 90 days soft. I dont think I would be holding my breath just yet. Until China comfirms payment is in the mail I wont believe it.
06-29-2012, 12:49 PM
zealanddonk

Quote:

Originally Posted by jsearles22

Quote:

Originally Posted by craftbeerdrinker

It's been 6 weeks, what's the word on payment?

6 weeks = 42 days. Payment projection was 90 days soft. I dont think I would be holding my breath just yet. Until China comfirms payment is in the mail I wont believe it.

Until the money actually arrives I wouldnt believe it.
SFO if you keep believing china's claims.