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Old 24-04-12, 15:17   #1
Donkathon
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Did PokerStars just buy FullTiltPoker?

Looks like PokerStars might have just bought ftp out from under GBT group

Two of the big mods on 2+2, one stating he can't disclose anything because of a non disclosure agreement & another saying his been contacted by people in the know to leave the thread open

http://forumserver.twoplustwo.com/29...s-ftp-1197424/

Quote:
Originally Posted by from 2+2
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.
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Old 24-04-12, 15:24   #2
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I for one welcome our new monopolistic overlords
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Old 24-04-12, 15:28   #3
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Great
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Old 24-04-12, 15:29   #4
tipp86
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I dunno a Monopoly is rarely good is it ?

Short term they will attempt to look competitive but long term it will lead to less innovation and less competitive VIP systems.
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Old 24-04-12, 15:49   #5
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once i get my $30~odd back i don't care
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Old 24-04-12, 16:36   #6
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Tweet from Alexandre Dryfus, ceo of Chilli Poker: "Pokerstars buys FullTilt for a consideration of $750m, including settlement with DOJ and full balances of players (330m). I'm impressed." Green Tuesday
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Old 24-04-12, 16:37   #7
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Quote:
Originally Posted by tipp86 View Post
I dunno a Monopoly is rarely good is it ?

Short term they will attempt to look competitive but long term it will lead to less innovation and less competitive VIP systems.
Has to be this pretty much. No idea why people would go back playing on the Full Tilt brand tho
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Old 24-04-12, 16:38   #8
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I wonder how this will pan out for Pocket Kings. Good luck to them anyway.
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Old 24-04-12, 16:44   #9
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I bet they'll use full tilt as a skin type network, gg ipoker.
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Old 24-04-12, 16:45   #10
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Has to be this pretty much. No idea why people would go back playing on the Full Tilt brand tho
Talk of it being re-branded. And that the only value the company holds is their better then average software valued at somewhere around $35 mill i think!
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Old 24-04-12, 16:47   #11
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I am happy to hear this. Full Tilt was always my favorite site. I love their avatars and shit, I did lose fucking tonnes on their site thou!
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Old 24-04-12, 16:53   #12
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Quote:
Originally Posted by Zosma View Post
I bet they'll use full tilt as a skin type network, gg ipoker.
As I understand it, they aren't set up to support being a network. Would require a sh1t load of development.
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Old 24-04-12, 17:27   #13
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Have heard so many rumours about FT at this stage i won't believe anything written about them until the site is offically open and my money is back in my bank acc. It was only a few weeks ago that Tapie 'offically' bought them without any press release, set up a new company for them to work under and now he's reselling it to pokerstars??? Dosn't make sense to me but W/E, don't believe any of it for the moment.
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Old 24-04-12, 17:39   #14
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PR from GBT

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.”
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Old 24-04-12, 19:07   #15
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apparently there is a statement from Pokerstars coming out tonight about the whole affair
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Old 24-04-12, 19:42   #16
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This doesn't make any sense to me. I guess Stars gain some great software, a big userbase and a lot of big, rakeable player balances that will mostly be instantly withdrawn, but what else? I mean what's the point in playing on FTP when Stars is right there?
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Old 24-04-12, 20:15   #17
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Quote:
Originally Posted by AndyFatBastard View Post
This doesn't make any sense to me. I guess Stars gain some great software, a big userbase and a lot of big, rakeable player balances that will mostly be instantly withdrawn, but what else? I mean what's the point in playing on FTP when Stars is right there?
I agree with you 30 minutes ago - but, I have come to the conclusion that with the US market going to become fragmented with different licenses for each state or groups of states, then why would you share the bulk of the profit with Tapie, You might as well buy them out and protect your future income. Certainly the rest of the world (except US) is a big market but why share the profit from it.
I have to say those in the isle of man must have been a little worried with the deal being announced as almost done. think of the money they would lose from a full tilt relaunch.

Because of the buy out stars;

Would receive massive good will from players,
It looks like the industry is cleaning up after themselves - adds to poker respectability
No patent issues with Zoom/Rush
They get out of DOJ hot water because they are taking responsibility for the money owed.
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Old 24-04-12, 20:40   #18
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You make some very good points, Iain. They are looking ahead to opening in the US where software patents are enforcable, good will and trustworthyness will be vital, and lots and lots of $$$ will be there to be made.
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Old 24-04-12, 20:52   #19
Donkathon
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Those rumours that when u.s. returns online there would be a 2 year freeze-out period for sites that excepted us customers after they were told not to I wonder did they just buy their way around this also

There has to be so many good things that's happening for PokerStars for buying the dead weight, puts them in such a strong position with the doj

I always thought that if they did impose this 2yr lock out thing that PartyPoker would return to the top because they would be the first big site back but now who knows
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Old 24-04-12, 20:54   #20
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Bad news for rb, if this goes through the two largest networks will set the standard for rb, there won't be any, I give rb 5 years, tops.
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