PokerStars buys FTP for $750mln(?) - Page 8

On July 28 2012 19:10 RaiNKhAN wrote: It's just to protect themselves. Keep in mind the DOJ is trying to put isai in jail so they are going to do everything their power to prevent that. What's the big deal even if buying FTP for rush/other random reasons is largely -EV if it almost guarantees you wont see a day in jail time? The guy has billions of dollars pretty sure he wouldnt wanna drop the soap just to save some money. The huge plus side to this IMO is winning the hearts of all poker players forever. Even if this comes off as a calculated decision it will seal them as the greatest heroes of all time to like 99% of the poker playing population. That in itself is a novelty that I could see as a primary motive outside of avoiding jail time

i honestly want to see the US govt. put isai to jail just for the lulz.

http://diamondflushpoker.com/

ONCHAN, ISLE OF MAN – July 31, 2012 – PokerStars today announced that the Company has reached a settlement with the U.S. Department of Justice (DOJ) Southern District of New York. As part of the settlement agreement, PokerStars has also acquired the assets of Full Tilt Poker, and has committed to the full reimbursement of Full Tilt Poker customers outside the United States.

And:
Under the agreement with the Department of Justice, PokerStars does not admit to any wrongdoing. Furthermore, the agreement explicitly permits PokerStars to apply to relevant U.S. gaming authorities, under both PokerStars and Full Tilt Poker brands, to offer real money online poker when State or Federal governments introduce a framework to regulate such activity.

Mutha fkn win

PENTA KILL

BOOOOOOOOOOOOOOOOOOOOOOM

so what hoops do i have to jump through to get my 125k?

Link not loading, prob overloaded. Another source here http://ktar.com/23/1488846/Company-NY-poker-deal-aimed-at-repaying-customers
says the payment will be over 3 years. Not sure what that implies

lp.net newspage is source now :D

Stars will be paying the fine/purchase price over 3 years. The repayment to players will be within 90 days

And we're gonna have to fill out some forms with the DOJ Daut. Don't know much of that process yet

!

On July 29 2012 00:30 curtinsea wrote: is keeping Zoom worth $750M?? I hardly think so. I could be wrong of course, but unless it's wildly popular I don't see this as a real motivator. I also don't think "sending people to jail" is the big motivator either, they are looking to avoid trials, make deals, confiscate money, and have their cases go unchallenged. So it may be that this "sale" is part of a forth coming plea agreement

And so it would seem . . . .

By my reading of the DoJ's announcement, this isn't a "sale" at all . . . Pokerstars has agreed to a forfeiture of $547m (in 3 payments) in exchange for resolution of the civil complaints against the company, and further agrees to pay $184m (for a total of $731m) for "rest of world" players with FTP balances. As part of the settlement, DoJ transfers FTP's forfeited assets upon receipt of the first payment of $225m

http://www.justice.gov/usao/nys/pressreleases/july12/pokersettlement.html

they also get to get a license in the US to come into the US market. which they likely wouldn't have gotten had they not bought FTP. Buying good will is the way to go =_=

sup suckahz. we back.

absolute/UB next plz T_T

So we gonna have an official 90 day clock started once this thing is signed, sealed, and delivered officially in the next 7?

On July 31 2012 13:42 Bejamin1 wrote: So we gonna have an official 90 day clock started once this thing is signed, sealed, and delivered officially in the next 7?

yup

if you're not american (I know you're not )

On July 31 2012 13:15 DooMeR wrote: they also get to get a license in the US to come into the US market. which they likely wouldn't have gotten had they not bought FTP. Buying good will is the way to go =_=

Nothing indicates this to be true at all, it merely says they are prohibited from offering play in the US until such time as it becomes legal here . . . I believe the Barton Bill, which is the closest thing to that legalization, includes a provision which would freeze Pokerstars out for two years

On July 31 2012 14:23 curtinsea wrote: Show nested quote + On July 31 2012 13:15 DooMeR wrote: they also get to get a license in the US to come into the US market. which they likely wouldn't have gotten had they not bought FTP. Buying good will is the way to go =_= I believe the Barton Bill, which is the closest thing to that legalization, includes a provision which would freeze Pokerstars out for two years

I think that measure was mainly to appease those who felt Pokerstars had operated illegally and needed to be appropriately punished. If pokerstars doesn't have to admit wrongdoing and is forking over 547M I don't think any kind of further punishment is necessary anymore.

On July 31 2012 13:41 Fayth wrote: absolute/UB next plz T_T

lol

you laugh, but there's a lot of talk that AP/UB is getting a % back

On July 31 2012 16:03 NMcNasty wrote: I think that measure was mainly to appease those who felt Pokerstars had operated illegally and needed to be appropriately punished. If pokerstars doesn't have to admit wrongdoing and is forking over 547M I don't think any kind of further punishment is necessary anymore.

I disagree, that measure is mainly to give Nevada interests a leg-up in online poker, pushing established sites to the background, effectively manipulating the market in favor of contributers