PokerStars buys FTP for $750mln(?)

Rumor surfaced today that PokerStars made a settlement where it was supposed to buy FTP and pay all players back. Obviously without any source so looked like a standard internet trolling.

Until now (this is ChilliPoker CEO):


opinions on what is going to happen now?

edit, new info:



Interesting question, considering PS buys FTP and and runs both rooms at same time, where would you play if rakeback/tournamnets/software stays the same for both rooms as pre-black friday?

Poll: So?
(Vote): I would play at PS anyway
(Vote): I would play at FTP owed by PS
(Vote): I play somwhere else

holy shit, that would be amazing

Also: looks like both PS and FTP will run @ USA again when a the online poker market is legal according to their agreement with the DOJ.

Pretty much how I felt when I read that this is assumed to be true by NoahSD, the author of the former site subject poker

COME ONNNNNNNNNN

but then whats that bullshit thats been going for ages with the tapei group???

This is 800 times worse for online than someone else buying FTP.
800 times.
There will be absolutely no competition and Stars will be able to do whatever the hell they want.

Would certainly be a smart move for them if FTP is even the least bit viable as a business.

wow WHAT? this is a nice little mindfk

The rumour of the redemption of Full Tilt Poker by PokerStars materializes: Laurent Tapie confirmed that the repurchase by GBT has fallen in the water. A press release will follow

GL guys!

pls

On April 24 2012 10:00 Carthac wrote: Pretty much how I felt when I read that this is assumed to be true by NoahSD, the author of the former site subject poker

holyshit! now im definitely gonna get my money back!!!

On April 24 2012 10:41 Drakk wrote: The rumour of the redemption of Full Tilt Poker by PokerStars materializes: Laurent Tapie confirmed that the repurchase by GBT has fallen in the water. A press release will follow GL guys!

Did it go bust before or after Pokerstars stepped in? I would have thought the only reason PS would step in is that they saw the FTP/Taipe deal would become a reality and they would have to forfeit some of the market share they gained after FTP went bust. If the deal fell through before then I dunno why PS would step in now, and why it would cost more than Taipe would have paid.

On April 24 2012 10:27 taco wrote: This is 800 times worse for online than someone else buying FTP. 800 times. There will be absolutely no competition and Stars will be able to do whatever the hell they want. Would certainly be a smart move for them if FTP is even the least bit viable as a business.

if that is true stars has absolutely no competition by almost a year, did they increase the rake? no actually they decreased it! you can be right but its not gonna be that much worse, btw i only think stars decreased rake because of the state of world economy.

On April 24 2012 10:27 taco wrote: This is 800 times worse for online than someone else buying FTP. 800 times. There will be absolutely no competition and Stars will be able to do whatever the hell they want. Would certainly be a smart move for them if FTP is even the least bit viable as a business.

The point of this matter is: No one could actually afford to buy FTP + it's player base $ + it's risk of ruin

PS buying FTP and paying out 100% player funds AND eliminating all it's legal battles with DOJ is the best thing that could possibly happen. 801x the best thing.

On April 24 2012 11:28 xicotaSLB wrote: Show nested quote + On April 24 2012 10:27 taco wrote: This is 800 times worse for online than someone else buying FTP. 800 times. There will be absolutely no competition and Stars will be able to do whatever the hell they want. Would certainly be a smart move for them if FTP is even the least bit viable as a business. if that is true stars has absolutely no competition by almost a year, did they increase the rake? no actually they decreased it! you can be right but its not gonna be that much worse, btw i only think stars decreased rake because of the state of world economy.

they didnt decrease the rake wtf

I do not know, i just copy pasted something I saw on facebook!

Official statement from Tapie:

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.”

On April 24 2012 10:00 tutz wrote: Also: looks like both PS and FTP will run @ USA again when a the online poker market is legal according to their agreement with the DOJ.

This is interesting. One time on that please.

Yeah Stars has been pretty legit owning the market to themselves since BF. Even if they became corrupt, with online poker legalized in the US we'll always have other options anyway. My guess is FTP owns a shit ton of patents worth buying, and of course operating 2 brands will absorb even more market. I wonder if the FTP pro's contracts are still live and Stars gets to scoop them all under one franchise too.

best news ever

stars supposedly releasing a statement soon

shared traffic, thx

On April 24 2012 12:57 dogmeat wrote: shared traffic, thx

2 softwares options, same network. imagine that?

Oh my God. This is the first time ive actually been excited by ftp related news.

lol [vital]Myth

On April 24 2012 10:00 tutz wrote: Also: looks like both PS and FTP will run @ USA again when a the online poker market is legal according to their agreement with the DOJ.

I think this trumps adverse effects of monopolization by far.

From 2p2

Originally Posted by shaundeeb View Post I feel bad making a new thread but dont want this info lost elsewhere but cliffs are included my source I trust a lot. Anyways the deal is already done by what I am told; Players will be paid within 90 days FTP will be open in the US market Isai will be stepping down from the company If these statements are true I feel that Isai deserves all our thanks+ business in the future with his company he is bailing out the igaming industry's tarnished reputation

Few people suggesting that only FTP will return to US market as stars signed an agreement with DOJ that FTP never did?

I got excited, until I remembered I still wouldn't be able to play unless I moved to freakin canada

--- Nuked ---

lol @ ftp reopening in the US market...

On April 24 2012 11:28 xicotaSLB wrote: Show nested quote + On April 24 2012 10:27 taco wrote: This is 800 times worse for online than someone else buying FTP. 800 times. There will be absolutely no competition and Stars will be able to do whatever the hell they want. Would certainly be a smart move for them if FTP is even the least bit viable as a business. if that is true stars has absolutely no competition by almost a year, did they increase the rake? no actually they decreased it! you can be right but its not gonna be that much worse, btw i only think stars decreased rake because of the state of world economy.

god this is completely fucking wrong bro, they increased their overall rake income via increasing rake expense to regs who don't play like 50%+ of the hands they're dealt

fuck I hate the power of marketing sometimes

How could FTP reopen in Us? Sounds like horseshit to me.

On April 24 2012 14:25 Maynard! wrote: How could FTP reopen in Us? Sounds like horseshit to me.

Yea. Solid reminder not to get too excited, as random people and their confidential sources are likely full of shit.

this is trolling at its finest

PS comment pretty much saying they can't say anything. Probably means they won't for a while oh well.
http://www.pokerstarsblog.com/corpora...-regarding-settlemen-093438.html#more

On April 24 2012 14:43 Eluflop wrote: this is trolling at its finest

probably this, but still....

holy, fucking, shit?

On April 24 2012 14:25 Maynard! wrote: How could FTP reopen in Us? Sounds like horseshit to me.

It was clarified later that he meant reopen if/when poker is legal in US again

http://diamondflushpoker.com/2012/04/the-gbt-repayment-plan-fact-vs-fiction/

horrible repayment plan wow

To Lee I pray...faithfully.

On April 24 2012 19:24 Siro wrote: http://diamondflushpoker.com/2012/04/the-gbt-repayment-plan-fact-vs-fiction/ horrible repayment plan wow

first replier's ID: hasu

LOL

Repayment plan by Tapie:

Early plans: Players with an account balance of less than $ 100 could be repaid in full or have that balance credited to their players account in the new company, virtually immediately. According to some sources, this was believed to encompass ~95% of account holders, and is what the media release today in fact, labeled as 94.9% of ROW players. What was left out of that release was that that purported 94.9% of player balances amounted to approximately $ 16,000,000.00. The remaining 5.1% of players, with an approximate aggregate account balance of $ 168,000,000.00 fell into a different group. Each player with a balance less than $ 500.00 fell into the “standard players” category. Each player with a balance of more than $ 500.00 but less than $ 10,000 fell into the “silver players” category. Each player with a balance of over $ 10,000.00 fell into the “gold players” category. 1 In each of these categories, in order for players to move more than the original $ 100 over to the unrestricted column (available for withdrawal), there would be significant playthrough requirements. The requirements appear to be staggered based on the balances but it is clear that the initial value of the new player account balance on which to play with, if one decided to play, is only a small percentage of the old account balance, based on the activity of the account in 2011. For the players used to playing mid-high stakes, they would need to make a fresh deposit in order to play in limits they were used to. After generating some substantial amount of rake, some more funds would be moved to the unrestricted column. It was expected that in many cases, this would take years to complete if only minimal(relative) deposits/playthrough was accomplished. If players for some reason, did not partake in reactivating their playthrough, after a period of 6 months, their old FTP account balance would be hit with inactivity penalties. The planned penalty was 5% of the inactive balance per month and would continue until either the player became active in the new company or until their balance was depleted by the penalty charges. If a player had been charged some monthly inactivity fee then became active, the penalties charged would not be reinstated, they would start only with their already depleted balance. Although there was some promise that withdrawals should be approved and completed within originally a two year then a three year period, based on the above requirements and inactivity penalties, many players old account balances would already be depleted in less than the three year period.

I would need to play there to cashout my money? wtf is that, my cash turned into some kind of play-to-release bonus? 5% penalty for inactivity as well, wow. Also haha at 2-3 year time to make withdrawals possible normally.

This is theft, there is no other way to call it. I'm so happy now that they got screwed over, PokerStars going in is a blessing here.

IN PS WE TRUST

On April 25 2012 04:48 Defrag wrote: Repayment plan by Tapie: Show nested quote + Early plans: Players with an account balance of less than $ 100 could be repaid in full or have that balance credited to their players account in the new company, virtually immediately. According to some sources, this was believed to encompass ~95% of account holders, and is what the media release today in fact, labeled as 94.9% of ROW players. What was left out of that release was that that purported 94.9% of player balances amounted to approximately $ 16,000,000.00. The remaining 5.1% of players, with an approximate aggregate account balance of $ 168,000,000.00 fell into a different group. Each player with a balance less than $ 500.00 fell into the “standard players” category. Each player with a balance of more than $ 500.00 but less than $ 10,000 fell into the “silver players” category. Each player with a balance of over $ 10,000.00 fell into the “gold players” category. 1 In each of these categories, in order for players to move more than the original $ 100 over to the unrestricted column (available for withdrawal), there would be significant playthrough requirements. The requirements appear to be staggered based on the balances but it is clear that the initial value of the new player account balance on which to play with, if one decided to play, is only a small percentage of the old account balance, based on the activity of the account in 2011. For the players used to playing mid-high stakes, they would need to make a fresh deposit in order to play in limits they were used to. After generating some substantial amount of rake, some more funds would be moved to the unrestricted column. It was expected that in many cases, this would take years to complete if only minimal(relative) deposits/playthrough was accomplished. If players for some reason, did not partake in reactivating their playthrough, after a period of 6 months, their old FTP account balance would be hit with inactivity penalties. The planned penalty was 5% of the inactive balance per month and would continue until either the player became active in the new company or until their balance was depleted by the penalty charges. If a player had been charged some monthly inactivity fee then became active, the penalties charged would not be reinstated, they would start only with their already depleted balance. Although there was some promise that withdrawals should be approved and completed within originally a two year then a three year period, based on the above requirements and inactivity penalties, many players old account balances would already be depleted in less than the three year period. I would need to play there to cashout my money? wtf is that, my cash turned into some kind of play-to-release bonus? 5% penalty for inactivity as well, wow. Also haha at 2-3 year time to make withdrawals possible normally. This is theft, there is no other way to call it. I'm so happy now that they got screwed over, PokerStars going in is a blessing here.

I thought that was pretty expected and reasonable. If nobody wants to buy FTP and pay you back your money what's wrong with an alternative method like this it's better than nothing, and quite possibly the only option for anyone buying FTP.

If GBT came to you and said "this is the only way we (or anybody else) can make FTP work, do you want us to buy it or not buy it"? I'd say yea that is pretty reasonable; you guys have no choice, and neither do we.

On April 25 2012 05:51 Nazgul wrote: Show nested quote + On April 25 2012 04:48 Defrag wrote: Repayment plan by Tapie:   Early plans: Players with an account balance of less than $ 100 could be repaid in full or have that balance credited to their players account in the new company, virtually immediately. According to some sources, this was believed to encompass ~95% of account holders, and is what the media release today in fact, labeled as 94.9% of ROW players. What was left out of that release was that that purported 94.9% of player balances amounted to approximately $ 16,000,000.00. The remaining 5.1% of players, with an approximate aggregate account balance of $ 168,000,000.00 fell into a different group. Each player with a balance less than $ 500.00 fell into the “standard players” category. Each player with a balance of more than $ 500.00 but less than $ 10,000 fell into the “silver players” category. Each player with a balance of over $ 10,000.00 fell into the “gold players” category. 1 In each of these categories, in order for players to move more than the original $ 100 over to the unrestricted column (available for withdrawal), there would be significant playthrough requirements. The requirements appear to be staggered based on the balances but it is clear that the initial value of the new player account balance on which to play with, if one decided to play, is only a small percentage of the old account balance, based on the activity of the account in 2011. For the players used to playing mid-high stakes, they would need to make a fresh deposit in order to play in limits they were used to. After generating some substantial amount of rake, some more funds would be moved to the unrestricted column. It was expected that in many cases, this would take years to complete if only minimal(relative) deposits/playthrough was accomplished. If players for some reason, did not partake in reactivating their playthrough, after a period of 6 months, their old FTP account balance would be hit with inactivity penalties. The planned penalty was 5% of the inactive balance per month and would continue until either the player became active in the new company or until their balance was depleted by the penalty charges. If a player had been charged some monthly inactivity fee then became active, the penalties charged would not be reinstated, they would start only with their already depleted balance. Although there was some promise that withdrawals should be approved and completed within originally a two year then a three year period, based on the above requirements and inactivity penalties, many players old account balances would already be depleted in less than the three year period. I would need to play there to cashout my money? wtf is that, my cash turned into some kind of play-to-release bonus? 5% penalty for inactivity as well, wow. Also haha at 2-3 year time to make withdrawals possible normally. This is theft, there is no other way to call it. I'm so happy now that they got screwed over, PokerStars going in is a blessing here. I thought that was pretty expected and reasonable. If nobody wants to buy FTP and pay you back your money what's wrong with an alternative method like this it's better than nothing, and quite possibly the only option for anyone buying FTP. If GBT came to you and said "this is the only way we (or anybody else) can make FTP work, do you want us to buy it or not buy it"? I'd say yea that is pretty reasonable; you guys have no choice, and neither do we.

I agree with limiting cash outs, to some reasonable amount like 5%-10% per month if you have certain amount of cash there, so they don't need to cash out whole 160mln at once and still have an option to earn intrest rate on this cash.
However, forcing players to play under the penalty of taking cash is ridiculous in my opinion and should have never even been discussed as a possible solution.

I don't understand what can be ridiculous about a situation where they have no choice. Nobody wanted anything to do with FTP. The only way for them to make it work was something like this. They could either do this and give everyone an opportunity to get their money back, or they could have done nothing. I don't think you can go by traditional standards here as if it was a normal company in a normal situation. Your options are either they buy it like this, or they don't buy it at all.

On April 25 2012 06:05 Defrag wrote: Show nested quote + On April 25 2012 05:51 Nazgul wrote:   On April 25 2012 04:48 Defrag wrote: Repayment plan by Tapie:   Early plans: Players with an account balance of less than $ 100 could be repaid in full or have that balance credited to their players account in the new company, virtually immediately. According to some sources, this was believed to encompass ~95% of account holders, and is what the media release today in fact, labeled as 94.9% of ROW players. What was left out of that release was that that purported 94.9% of player balances amounted to approximately $ 16,000,000.00. The remaining 5.1% of players, with an approximate aggregate account balance of $ 168,000,000.00 fell into a different group. Each player with a balance less than $ 500.00 fell into the “standard players” category. Each player with a balance of more than $ 500.00 but less than $ 10,000 fell into the “silver players” category. Each player with a balance of over $ 10,000.00 fell into the “gold players” category. 1 In each of these categories, in order for players to move more than the original $ 100 over to the unrestricted column (available for withdrawal), there would be significant playthrough requirements. The requirements appear to be staggered based on the balances but it is clear that the initial value of the new player account balance on which to play with, if one decided to play, is only a small percentage of the old account balance, based on the activity of the account in 2011. For the players used to playing mid-high stakes, they would need to make a fresh deposit in order to play in limits they were used to. After generating some substantial amount of rake, some more funds would be moved to the unrestricted column. It was expected that in many cases, this would take years to complete if only minimal(relative) deposits/playthrough was accomplished. If players for some reason, did not partake in reactivating their playthrough, after a period of 6 months, their old FTP account balance would be hit with inactivity penalties. The planned penalty was 5% of the inactive balance per month and would continue until either the player became active in the new company or until their balance was depleted by the penalty charges. If a player had been charged some monthly inactivity fee then became active, the penalties charged would not be reinstated, they would start only with their already depleted balance. Although there was some promise that withdrawals should be approved and completed within originally a two year then a three year period, based on the above requirements and inactivity penalties, many players old account balances would already be depleted in less than the three year period. I would need to play there to cashout my money? wtf is that, my cash turned into some kind of play-to-release bonus? 5% penalty for inactivity as well, wow. Also haha at 2-3 year time to make withdrawals possible normally. This is theft, there is no other way to call it. I'm so happy now that they got screwed over, PokerStars going in is a blessing here. I thought that was pretty expected and reasonable. If nobody wants to buy FTP and pay you back your money what's wrong with an alternative method like this it's better than nothing, and quite possibly the only option for anyone buying FTP. If GBT came to you and said "this is the only way we (or anybody else) can make FTP work, do you want us to buy it or not buy it"? I'd say yea that is pretty reasonable; you guys have no choice, and neither do we. However, forcing players to play under the penalty of taking cash is ridiculous in my opinion and should have never even been discussed as a possible solution.

PartyPoker does this, If you don't play for a year or something they penalise you by taking some of your money.

obv if they just let players insta cashouts on first reopening day most of the players would just empty their accounts, solution is to let players play with whole bankrolls but allow cashout since x amount of rake is generated by a player.

i never post in threads where nazgul posts before me anymore cuz i just always side with him. 100% naz is the man

On April 25 2012 08:13 DooMeR wrote: i never post in threads where Doomtree posts before me anymore cuz i just always side with him. 100% Doomtree is the man

Agreed.

I think GBT taking control of FTP is pretty much on par with nobody dealing with FTP, and player funds not being paid back at all. Part of the idea of a takeover was 'someone is giving us our money back, FTP brand will slightly improve, and players might return.' With how insulting that repayment plan is, any hope of the brand gaining any momentum and coming back from the grave so low.

On April 25 2012 08:13 DooMeR wrote: i never post in threads where nazgul posts before me anymore cuz i just always side with him. 100% naz is the man

On April 24 2012 14:34 Stim_Abuser wrote: Show nested quote + On April 24 2012 14:25 Maynard! wrote: How could FTP reopen in Us? Sounds like horseshit to me. Yea. Solid reminder not to get too excited, as random people and their confidential sources are likely full of shit.

This sadly. I really wish it was true though .

http://www.compatiblepoker.com/poker-rumors/full-tilt-poker-and-poker-stars-in-court-today/5921 bump

Thats not confirmed

man, i took maynard's advice and decided to kiss my money goodbye, but hearing this news has gotten me emotionally invested again, and it hurts

You could disregard the link. They did have a pre-trial meeting but it had nothing to do with sale of Full Tilt. There was really nothing significant that happened besides scheduling trial dates.

See a new FTP article > copy link > post on LP > get peoples hopes up > crush dreams even further.

LOL reading this thread was like a rollercoaster.... up up up....DOOOOOOOOWWWWWNNNNNNNNN

On May 10 2012 12:19 TampaBayMat wrote: LOL reading this thread was like a rollercoaster.... up up up....DOOOOOOOOWWWWWNNNNNNNNN

WTF IS GOING ON WITH THIS SHIT

SERIOUSLY

On May 12 2012 18:04 MysticJoey wrote: WTF IS GOING ON WITH THIS SHIT SERIOUSLY

we all stilll broke

subject should be changed

so what? this is bullshit? No official statement by stars yet?

No statement but there have been a few rumors from a little ways back that it was gonna be finalized by the 3rd week (this week) of may.

bob don't you fucking give me more false hope or i'ma have to come find u and kill u ;(

There's a guy on 2p2 that's so confident of his source that he's been taking bets that well hear about it before the 24th. Think he's got close to 2k in action.

On May 15 2012 07:04 Bigbobm wrote: There's a guy on 2p2 that's so confident of his source that he's been taking bets that well hear about it before the 24th. Think he's got close to 2k in action.

action, smacktion... you're messing with something strong here Bob.... my feelings.

I just want my money out of ftp then never to hear their name again.

bump

On May 21 2012 06:11 Jun wrote: bump

I'll tell them you bumped this thread so they can finally go on with the negotiations again. Thanks!

Would be nice thx!

........
this shit will go on for ages
tiny slice of info then silence for a month, then restart

well it's the 23rd...that guy might have to cough up 2k+ ;o

apparently his bet was end of the day on 24th
so just another day..
never ends -.-

Adding a bit of value to this thread - I send an e-mail to FTP twice a month reminding them of checks that bounced from my bank account but were never refunded to my FTP balance. Two days ago, my e-mails started to bounce:

This is the mail system at host mx00.fulltiltpoker.com. I'm sorry to have to inform you that your message could not be delivered to one or more recipients. It's attached below. For further assistance, please send mail to postmaster. If you do so, please include this problem report. You can delete your own text from the attached returned message. The mail system <blackcard@fulltiltpoker.com>: delivery temporarily suspended: connect to 10.100.71.151[10.100.71.151]: Connection timed out <cashier@fulltiltpoker.com>: delivery temporarily suspended: connect to 10.100.71.151[10.100.71.151]: Connection timed out <support@fulltiltpoker.com>: delivery temporarily suspended: connect to 10.100.71.151[10.100.71.151]: Connection timed out Final-Recipient: rfc822; blackcard@fulltiltpoker.com Original-Recipient: rfc822;blackcard@fulltiltpoker.com Action: failed Status: 4.4.1 Diagnostic-Code: X-Postfix; delivery temporarily suspended: connect to 10.100.71.151[10.100.71.151]: Connection timed out Final-Recipient: rfc822; cashier@fulltiltpoker.com Original-Recipient: rfc822;cashier@fulltiltpoker.com Action: failed Status: 4.4.1 Diagnostic-Code: X-Postfix; delivery temporarily suspended: connect to 10.100.71.151[10.100.71.151]: Connection timed out Final-Recipient: rfc822; support@fulltiltpoker.com Original-Recipient: rfc822;support@fulltiltpoker.com Action: failed Status: 4.4.1 Diagnostic-Code: X-Postfix; delivery temporarily suspended: connect to 10.100.71.151[10.100.71.151]: Connection timed out

Good news or bad news? You be the judge!

lol wtf

expecting breaking news in a couple of hours

so the guy still looks like he has to ship that 2k..

i fucking hope he's right tho ;(

Curious if that guy payed up his $2k

On May 25 2012 18:23 OnTheMountain wrote: Curious if that guy payed up his $2k

On May 27 2012 01:20 exalted wrote: Show nested quote + On May 25 2012 18:23 OnTheMountain wrote: Curious if that guy payed up his $2k

On May 29 2012 17:25 YoMeR wrote: Show nested quote + On May 27 2012 01:20 exalted wrote:   On May 25 2012 18:23 OnTheMountain wrote: Curious if that guy payed up his $2k

On May 29 2012 22:23 exalted wrote: Show nested quote + On May 29 2012 17:25 YoMeR wrote:   On May 27 2012 01:20 exalted wrote:   On May 25 2012 18:23 OnTheMountain wrote: Curious if that guy payed up his $2k

damn it, i saw last post was ballim and i was like "wow, maybe he has some breaking news to share"

was disappointed

yeah people need to stop bumping this thread its pretty tilting

On May 29 2012 23:15 Baalim wrote: Show nested quote + On May 29 2012 22:23 exalted wrote:   On May 29 2012 17:25 YoMeR wrote:   On May 27 2012 01:20 exalted wrote:   On May 25 2012 18:23 OnTheMountain wrote: Curious if that guy payed up his $2k

trolling smuft ftw

bullshit

anyone else think pokerstars might be doing this to kill FTP once and for all? show heaps of interest, put prospective buyers off etc.....

On May 31 2012 05:48 DooMeR wrote: Show nested quote + On May 29 2012 23:15 Baalim wrote:   On May 29 2012 22:23 exalted wrote:   On May 29 2012 17:25 YoMeR wrote:   On May 27 2012 01:20 exalted wrote:   On May 25 2012 18:23 OnTheMountain wrote: Curious if that guy payed up his $2k lol it was smuft? haha trolling smuft ftw

lol

no it wasnt smuft im just doing it to spite smuft for saying it tilted him ^^

been away for the last 3-4 weeks (also trolling smuft)... any updates?

its been over a year, this is so sick for so many people. ps should just muscle up, have 2 sites and monopoly the poker world imo....

i can only imagine how much traffic the sites combined would have..

Some good news just came today. I saved a bunch of money on car insurance by switching to Geico.

Glad to see that you guys can laugh and mock other people who lost tens of thousands of dollars.

I've written off the money I had on FTP (just barely 5 figures). If I ever see that money, even if it's penny on the dollar I'll be happy. But I'm not counting on it.

The agent of Jonathan Duhamel and admin on a french forum just leaked today that FTP was going to open pretty soon. This is nothing official but I think it's pretty solid information since they are in contact with people working for Pokerstars.

This is the translation of what he posted today:

"I can't give my source but anyway my credibility is even more in play than my source. I can tell you today that Full Tilt Poker will re open pretty soon and will obvioulsy pay back the players.

There are still some details that has some more work to do but everything should develop pretty quickly. I am aware of what this announcement means to the players that have money stuck for far too long and I fully understand that my reputation is in play when I write such a scoop.

In the best case scenario we're speaking of couple of days but with the DOJ involved it might be a bit longer but believe it or not Full Tilt Poker will be up running soon."

why would he write that, like he said his rep. is on the line.. except he just blew up his reputation and big companies won't do business with him anymore since he can't be trusted lol

is the poster confirmed duhamel's agent? didn't duhamel quit poker

http://www.pokerplayernewspaper.com/c...ilt-pokerstars-negotiations-can-12310

On July 27 2012 12:25 nabz wrote: http://www.pokerplayernewspaper.com/c...ilt-pokerstars-negotiations-can-12310

Unfortunately at this point I'll only say that I'll believe it when I see it. Things have looked hopeful off and on with this so there's no reason to get excited until it goes through 100% and pokerstars makes a statement.

I get a boner and then I saw her face

Link won't load .

This is what the link says: "Breaking News: The ups and downs and glitches in negotiations between PokerStars and the United States Department of Justice with respect to Full Tilt Poker have come to an end.
Without giving away the identity of a consistently impeccable resource, it is now safe to say announcements for public dissemination are in the works. At this point I am ready to go out on a limb; FTP customers will see their monies well in time for Christmas shopping." by Wendeen H. Eolis

+ this

editor’s Note: Wendeen H. Eolis is CEO of Eolis International Group a legal/government affairs consultancy. She was formerly a senior advisor to Mayor Giuliani and then to Governor Pataki,.Her government affairs and business portfolio includes extensive gaming matters. She was the first woman to cash in the main event of the WSOP (1986).

if you cant get link to load, read here: http://www.legalpokersites.com/blog/f...sfully-completed-according-to-report/

im optimistic but hard to be overly excited at this point

On July 27 2012 13:04 Daut wrote: im optimistic but hard to be overly excited at this point

Yep , I feel the same ...

about time I had downswing today

just get it done already... one time

most trusted FTP news source tweeted this:

Diamond Flush ‏@Diamond_Flush Long awaited news coming at http://diamondflushpoker.com next few days. No speculation, no rumors, real news.

And also said she would tell us immedialty if it was bad news ...
+" long awaited news"

we fly high
no lie
u know this

bAAAAAALLIN

Jennifer Newell ‏@WriterJen

A very reliable source just told me the Stars/FTP deal is done. If no announcement today, it will happen on Monday. Book it.
Expand


3:15 PM - 27 Jul 12 via web · Details
4m NorthEastPokerTour NorthEastPokerTour ‏@NEPTpoker

@WriterJen Is that source a writer at PokerPlayer NewsPaper ?
Expand



2m Jennifer Newell Jennifer Newell ‏@WriterJen

@NEPTpoker Nope. A source inside one of the parties involved.
Hide conversation

3:32 PM - 27 Jul 12 via web · Details

if that's true I've hoped they've figured out all of the accounting problems they've had before and still have good records of all player accounts. I tried to withdraw 2k on Black Friday and that never got put back into my account, hopefully it's not lost in limbo.

"Next week! "

I'm not going to believe shit unless some respectable site posts the info. There was more then enough shit-sites during last year reporting that FTP deal was done just to raise the traffic.

That's true
However Diamondflushpoker.com was the more reliable source since the begining.

god i hope this is real @____@

k so ill sum up everyones lack of optimism with some edits:

I WILL ONLY BELIEVE IT WHEN I SEE IT............IN MY BANK ACCOUNT.

gg ty

not really sure what motivation pokertars has to buy FTP, except for the zoom poker patent. which I guess they figure must be iron clad strong/they will be able to enforce it and dominate the USA market with a product which no one can legally compete against them with (lame IMO)

the name is pretty useless to them. they're already pokerstars. + FTP's name is soiled.

any other motivations?

also is zoom patented outside of the US? how does that work?

lol publicity stunts, hey guys FTP is giving all your moneys back, visit www.tlpoker.la for more information

On July 27 2012 14:18 AndrewSong wrote: we fly high no lie u know this bAAAAAALLIN

Keep dreamin broski, by the time you get your stacks back, the Mexican peso will be worth more than your green backs.

Stars has a ton of motivation to buy FTP.

-if a major site fails to pay back players than general trust in the industry is gone
-possibility to negotiate and reduce the fine imposed by the doj by taking on the FTP debt
-basically prevent anyone else from owning FTP software. Because we all know after stars and FTP the rest is basically shit.

There are probably more reasons driving stars to make this purchase but those are the obvious three for me

On July 28 2012 08:09 Bigbobm wrote: Stars has a ton of motivation to buy FTP. -possibility to negotiate and reduce the fine imposed by the doj by taking on the FTP debt

this is the only reason that holds weight imo. the other 2 are just things we pretend to matter in hopes that they pay us back. even if stars did not buy ftp and pay us the money that howard stole from us it would not tarnish their reputation at all, because when shit hit the fan stars cashed out our rolls pretty fkn fast. stars has long paid its dues to gain our trust, and the only reason they would buy ftp is not for rush poker (lol, they already have fkn zoom poker as if they need something stupid like rush) is so they dont get jailed/ass raped by bubbas crew

I don't get it, what about the deal gives them power against the DOJ.. if anything it sounds like they are taking on more liability. The DOJ didn't attack the online sites because they weren't managing player's money properly. Their attack is what caused the player's to lose their money in the first place.

DOJ doesn't give a shit about the players. I don't understand how buying FTP gives Stars more negotiating power against criminal charges.

Also Khan, if the Rush poker patent is strong and able to be upheld in the court of law, Stars would want to buy it because otherwise another company could buy FTP and sue, therefore making it very difficult for Stars to continue spreading zoom poker games (since its the same fuckin thing...). Now Stars instead has the legit/original patent for Speed/Zoom/Rush poker games and can rape anyone else who tries to spread it.
No?

I didn't know they wanted rush to prevent being sued. I thought they wanted rush because they wanted rush. That of course, would make the incentive that bob posted make a lot more sense to me now :D

well this is just my speculation under the assumptions (correct me if I'm wrong.. I really don't know more than what has been posted in some articles on LP)

1. rush is patented in the USA (and that, as typical, it is a broad patent which protects any system which rapidly deals poker hands and shuffles tables)
2. zoom poker is basically identical in function to rush, along with partpoker's new speed hold'em


idk, maybe stuff like faith in the industry really does have an effect on Stars' decision here.

it just doesn't (to me only, maybe?) seem to be a strong enough reason to spend 750mln on the company

furthermore mergers & acquisitions are typically extremely expensive and, on their face, a losing deal for the acquiring company
so I'm searching for some kind of real monetary incentive for Stars

FTP failed to obtain a patent for Rush Poker afaik, so I wouldn't consider this a motive.

oh well that shoots my idea all to crap, thanks


now I really hope bob elaborates on how it will give stars' power to negotiate with doj.... !

FTP software was very nice. but 50, 75, 100 million nice?

dunno.

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 didn't really think about how jailtime was actually on the table here (it so rarely is for financial crimes.. even when deserved), but it is definitely a reality now that the absolute guy was sent to jail. A billionaire type might definitely be willing to gamble an extra chunk of one of the company's he owns equity in order to lessen the chance of jail.

On July 28 2012 18:40 Defrag wrote: FTP failed to obtain a patent for Rush Poker afaik, so I wouldn't consider this a motive.

This is not true. They have pending US and European applications.

Considering it is likely a novel concept (i.e., I doubt there are publications/inventions disclosing any rush poker variant) it will likely patent with very large coverage. This likely means that whoever owns the patent may likely own rush poker and can likely recover a considerable amount of damages from whoever uses rush poker. FTP was smart going after patent coverage. Pokerstars should do the same with their software features IMO.

I don't think it's right at all to say DOJ doesn't care about the players. If that was the case they would have dumped FTP to GBT long ago with the shit repayment plan. Also if players do get shafted at this point, DOJ is probably going to take a lot of shit for it one way or another. Being an election year this isn't something that they want on their plate.

It's also been mentioned a few times that DOJs priority is getting the players their money back. If stars is willing to repay players, DOJ will be thrilled. This is a ton of leverage for stars. They can cut fines, dodge some jail time, and restore a lot of confidence and professionalism in poker that FTP raped away.

lots of fuckery in the poker world. people should just khan style FTP news

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

On July 29 2012 00:30 curtinsea wrote: 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

if youre looking at it from FTPs point of view, a plea agreement is exactly how they are avoiding any chance of jail time.
from DOJ's point of view, they have always been using the threat of jail/trial/fines to force this path. they have to actually be ready for this option though to make this a serious threat, and based on whats happening to bitar and the guy from UB they are.

On July 28 2012 21:19 Maynard! wrote: Show nested quote + On July 28 2012 18:40 Defrag wrote: FTP failed to obtain a patent for Rush Poker afaik, so I wouldn't consider this a motive. This is not true. They have pending US and European applications. Considering it is likely a novel concept (i.e., I doubt there are publications/inventions disclosing any rush poker variant) it will likely patent with very large coverage. This likely means that whoever owns the patent may likely own rush poker and can likely recover a considerable amount of damages from whoever uses rush poker. FTP was smart going after patent coverage. Pokerstars should do the same with their software features IMO.

First of all, it's important to point out that FTP didn't invent Rush Poker, they just paid a third party for the exclusive rights to use it. The patent itself was filled in 2007, you can see it here: Rush Poker patent.
I have no idea if they would want to buy the intellectual rights to it later after it was patented though, obviously.

Second thing, even that FTP is non-operational atm, that doesn't mean that company doesn't exist. I don't think a poker room so strong as PokerStars would risk implementing Zoom Poker if they think there was a chance for them being sued and having to remove the product from their offer. So they either cut the deal with original idea owners or their lawyers assured them that there is no chance for the patent to be granted (considering all networks already have rush a-likes, I would guess it's the second).

On July 29 2012 14:13 Defrag wrote: Show nested quote + On July 28 2012 21:19 Maynard! wrote:   On July 28 2012 18:40 Defrag wrote: FTP failed to obtain a patent for Rush Poker afaik, so I wouldn't consider this a motive. This is not true. They have pending US and European applications. Considering it is likely a novel concept (i.e., I doubt there are publications/inventions disclosing any rush poker variant) it will likely patent with very large coverage. This likely means that whoever owns the patent may likely own rush poker and can likely recover a considerable amount of damages from whoever uses rush poker. FTP was smart going after patent coverage. Pokerstars should do the same with their software features IMO. First of all, it's important to point out that FTP didn't invent Rush Poker, they just paid a third party for the exclusive rights to use it. The patent itself was filled in 2007, you can see it here: Rush Poker patent. I have no idea if they would want to buy the intellectual rights to it later after it was patented though, obviously. Second thing, even that FTP is non-operational atm, that doesn't mean that company doesn't exist. I don't think a poker room so strong as PokerStars would risk implementing Zoom Poker if they think there was a chance for them being sued and having to remove the product from their offer. So they either cut the deal with original idea owners or their lawyers assured them that there is no chance for the patent to be granted (considering all networks already have rush a-likes, I would guess it's the second).

Ah. I was looking at a different application owned by pocketkings. It looked the same and I'm obviously too lazy to read the specification. In either event, it doesn't matter that FTP didn't invent it. All that really matters is who owns it.

It appears that someone is still paying attorneys to do work as late as March 2012. The work done is related to similar publications that must be sent to the patent office. Since publications have been sent to the patent office this means that FTP or an interested party in direct contact with FTP conducted searches. They are likely doing this to determine the patentability and value of these applications.

I think pokerstars would just move ahead and wouldn't care if they infringe. Too much $ to be made. They can just pay damages later if it is found that they infringe. From what I can tell, this is what most companies do.

It might be worth something?

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