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Thread: POKERSTARS PURCHASES FTP FOR $750 MILLION, PLAYERS WILL BE 100% REFUNDED

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    Silver Henry's Avatar
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    POKERSTARS PURCHASES FTP FOR $750 MILLION, PLAYERS WILL BE 100% REFUNDED

    Chili Poker CEO, Alexandre Dreyfus' twitter post:

    ‏@alex_dreyfus

    "Pokerstars buys FullTilt for a consideration of $750m, including settlement with DOJ and full balances of players (330m). I'm impressed."

    https://twitter.com/#!/alex_dreyfus/...98141571211265



    Thread on 2+2:


    Quote Originally Posted by PS<3FTP
    PokerStars has reached an agreement with the U.S. Department of Justice to buy FTP. The things I heard:

    * All players will be refunded 100%
    * Both sites back online
    * Both sites have promotions
    * Employees remain in both places

    Expect more news today.

    Mod note, NoahSD:

    I don't know if this is actually true, but a number of inside sources contacted me to tell me to undelete this thread. So, this thread is staying open for now.
    http://forumserver.twoplustwo.com/29...s-ftp-1197424/
    Last edited by Henry; 04-24-2012 at 07:18 AM.

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    Silver Sandwich's Avatar
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    Wow, really? Any confirmation?

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    Quote Originally Posted by Sandwich View Post
    Wow, really? Any confirmation?
    nope

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    i hope it happens. it will actually show how well pokerstars is run. i mean lol at a competitor buying up FTP. im assuming they will get software rights. will that mean a new pokerstars software with the best of both world? (like the PS software and the FTP software combined??)

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    Silver Henry's Avatar
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    Quote Originally Posted by Sandwich View Post
    Wow, really? Any confirmation?
    1) The opening post on 2+2 was made at 6:43 am central time, three hours before the tweet . It has been 4 hours since the post was made and Pokerstars has yet to deny the claims. The moderators at 2+2 are leaving the thread open, a mod said a press release would be forthcoming.

    2) The CEO of Chili Poker cannot afford to tweet false claims or ones he wasn't sure of, thus he's a legitimate source.

    That's where we are at. This story is still developing, but I think, at this point, this is probably true.

    Players fully refunded with a Stars monopoly.
    Last edited by Henry; 04-24-2012 at 08:02 AM.

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    Paging Steve-O, get to the bottom of this sir.
    Of all the money e'er I had, I spent it in good company

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    If true, Isai Scheinberg is going to rule online poker in large parts of the world, like a double-secret Mossad super pimp. Good for those owed money, but man, not so great for competition to the Euro's eventually, as putting the very little remaining competing networks to sleep after this will be an easy task.

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    Still unconfirmed, but being reported from numerous sources:
    http://pokerfuse.com/news/poker-room...tles-with-doj/

    "...Until now, French investment group Group Bernard Tapie were known to be in late-stage talks. According to sources at e-Gaming Magazine, “efforts to obtain final DoJ approval to acquire the assets of Full Tilt Poker have ended without success,” and that the deal was “sabbotaged,” according to iGamingFrance...."

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    Gold Steve-O's Avatar
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    Quote Originally Posted by Henry Highbrow View Post
    Quote Originally Posted by Sandwich View Post
    Wow, really? Any confirmation?
    1) The twoplustwo post was made at 6:43 am central time, three hours before the tweet. It has been 4 hours since the opening post was made on 2+2 and Pokerstars has yet to deny the claims. The moderators at 2+2 are leaving the thread open, a mod said a press release would be forthcoming.

    2) The CEO of Chili Poker cannot afford to tweet false claims or ones he wasn't sure of, thus he's a legitimate source.

    That's where we are at. This story is still developing, but I think at this point, this is probably true.

    Players fully refunded with a Stars monopoly.
    It's odd how when people want something to be true they come up with all different justifications for why it is true. No denial within hours, has to be true! Mod left it up, has to be true! Not saying it isn't true, but let's wait and see a few more hours or until someone whose opinion means anyting chimes in.

    It seems weird to me that the DOJ would agree to sell an online poker to an online poker room that is under indictment for running an online poker room? Perhaps the $750 million includes paying off the DOJ though a la Party Poker back in the day????
    Last edited by Steve-O; 04-24-2012 at 08:36 AM.
    I write things about poker at my Poker Blog and elsewhere on the Internets

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    Quote Originally Posted by Steve-O View Post
    Quote Originally Posted by Henry Highbrow View Post

    1) The twoplustwo post was made at 6:43 am central time, three hours before the tweet. It has been 4 hours since the opening post was made on 2+2 and Pokerstars has yet to deny the claims. The moderators at 2+2 are leaving the thread open, a mod said a press release would be forthcoming.

    2) The CEO of Chili Poker cannot afford to tweet false claims or ones he wasn't sure of, thus he's a legitimate source.

    That's where we are at. This story is still developing, but I think this has to be true at this point.

    Players fully refunded with a Stars monopoly.
    It's odd how when people want something to be true they come up with all different justifications for why it is true. No denial within hours, has to be true! Mod left it up, has to be true! Not saying it isn't true, but let's wait and see a few more hours or until someone whose opinion means anyting chimes in.

    It seems weird to me that the DOJ would agree to sell an online poker to an online poker room that is under indictment for running an online poker room? Perhaps the $750 million includes paying off the DOJ though a la Party Poker back in the day????
    Agree with all of this. Certainly hope its true but several parts don't make much sense. Particularly when pokerstars is under indictment. Also why such the high price? Apparently ftp owners were ready to just about give away the company? If pokerstars really wanted a monopoly they'd be better off buying out partypoker. Finally, where are all the guys saying tapie deal was sure thing???

    Guess we'll just have to wait and see...

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    Owner Dan Druff's Avatar
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    I happened to be on 2p2 moments after this was posted but didn't post it here because it looked so ridiculous.

    If it's true, Pokerstars just made a



    ... unless that was their negotiated "fine".

    I still think it is BS.

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    Quadjacks is broadcasting radio live right now for anyone who is interested in hearing the nonstop speculation.

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    I have to leave for a dental appointment... can't even eat popcorn....

    new article says a large part of money went to paying off doj. If that is true it makes much more sense.

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    not a whole lot of new info but Negreanu responds to it here: (From story)

    Daniel Negreanu, leading member of Team PokerStars Pro, told PokerListings.com today in Monte Carlo that he knew nothing of an impending deal.

    “I have no information on it other than what I’m reading but people I’m talking to seem to believe it’s true,” said Negreanu.

    “The idea of PokerStars buying Full Tilt for $750 million seems impossible to me, so based on what I know it would really surprise me.

    “But it would definitely be good for poker players because PokerStars is a good company and players wouldn’t have to deal with those scumbags anymore,” he said.

    http://www.pokerlistings.com/rumor-p...-million-34877

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    Gold Steve-O's Avatar
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    Quote Originally Posted by Dan Druff View Post
    I happened to be on 2p2 moments after this was posted but didn't post it here because it looked so ridiculous.

    If it's true, Pokerstars just made a



    ... unless that was their negotiated "fine".

    I still think it is BS.
    Party Poker paid $300 million back in 2008, so $420 million seems about right for the DOJ payoff.... I hope someday I have enough money to just buy my way out of anything
    I write things about poker at my Poker Blog and elsewhere on the Internets

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    Tapie Out:

    "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.”

    http://www.gaming-awards.com/NEWS/archives/8374
    Last edited by bukowski72; 04-24-2012 at 08:57 AM.

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    Quote Originally Posted by Dan Druff View Post
    I happened to be on 2p2 moments after this was posted but didn't post it here because it looked so ridiculous.

    If it's true, Pokerstars just made a


    ... unless that was their negotiated "fine".

    I still think it is BS.
    I think everybody misread the story. Pokerstars didn't agree to pay $750 million. They agreed to pay 750 million FPPs that Isai Scheinberg had accumulated from leftover American accounts.
    TRUMP 2024!

    Quote Originally Posted by verminaard View Post
    Just non-stop unrelenting LGBT propaganda being shoved down our throats.

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    Quote Originally Posted by PLOL View Post
    Quote Originally Posted by Dan Druff View Post
    I happened to be on 2p2 moments after this was posted but didn't post it here because it looked so ridiculous.

    If it's true, Pokerstars just made a


    ... unless that was their negotiated "fine".

    I still think it is BS.
    I think everybody misread the story. Pokerstars didn't agree to pay $750 million. They agreed to pay 750 million FPPs that Isai Scheinberg had accumulated from leftover American accounts.


    I made that post above right when I woke up.

    Upon further reading, I think this is probably true, given both the number of independent sources seemingly confirming this, plus Pokerstars' non-denial about the situation.

    Of course, this doesn't mean we'll have any more options to play poker in the US right now, but at least everyone should get their money back quickly and easily.

    Excellent.

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    Diamond PLOL's Avatar
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    Quote Originally Posted by Dan Druff View Post
    Quote Originally Posted by PLOL View Post
    I think everybody misread the story. Pokerstars didn't agree to pay $750 million. They agreed to pay 750 million FPPs that Isai Scheinberg had accumulated from leftover American accounts.


    I made that post above right when I woke up.

    Upon further reading, I think this is probably true, given both the number of independent sources seemingly confirming this, plus Pokerstars' non-denial about the situation.

    Of course, this doesn't mean we'll have any more options to play poker in the US right now, but at least everyone should get their money back quickly and easily.

    Excellent.
    Is PokerStars going to come after me for the $400 I owe Full Tilt?
    TRUMP 2024!

    Quote Originally Posted by verminaard View Post
    Just non-stop unrelenting LGBT propaganda being shoved down our throats.

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