Full Tilt Poker Sold to French Investors

benevg · Oct 1, 2011

great news. i am fairly certain tilt will rise back to near the top if they can make things work. of course, hopefully it will not be under the french laws...

Charade You Are said:
Associated Press also said buyer was Bernard. http://hosted.Absolute Poker.org/dy...=Absolute Poker&SECTION=HOME&TEMPLATE=DEFAULT

(When I put "A""P" it changed it to Absolute Poker-lol).

the group is called "Bernard Tapie" - but he is not running it himself any longer. so some confusion is to be expected - unless you mean to tell me that journalists know what they are talking about

matt101 · Oct 1, 2011

I wish life was fair and we did indeed recieve all of our money back but I highly doubt it from this point forward. Better stick with the rakefree poker rooms instead. You save a ton of money and there are decent amount of players. They're maybe not strong...but who needs strong opponents? just rich fish

ziggymom · Oct 1, 2011

Keep your fingers cross ...would be nice to see that money again and it would be really nice to see FT up and running again ...I sure do miss FT.

Due to all this going on with "poker on line" I really don't want to deposit into a new site of poker knowing I will prolly lose that to .

Keep you chin up everyone and cross your fingers , lets see if we get are money back from FT or if FT starts running again on line.

trucker103 · Oct 1, 2011

hopin prayin but really would like too see
this issue resolved in a positive way

tcummo · Oct 1, 2011

i want to see them avatars again.
specially that beauty with the boobies........
fred would leave wilma for her.
tho' i dont think homer would leave marge ??
and of course.....
that final table audience....

plainluck · Oct 1, 2011

I am not getting my hopes up. They throw us little tidbits of information just to keep us interested. I no longer care about whether or not they might do something. I just want the end results. Money or no money!!!!!!!!!!!!!!!!

alaskabill · Oct 1, 2011

This has probably been posted somewhere already but here is an interview with the potential new owner. It sounds like they want the DOJ to release a lot of the money that they have taken over the years in seizures.

http://www.igamingfrance.com/full-t...dmits-there-is-“still-a-long-way-to-go”/24972

In the interview they say that over 300 million was frozen. However, that is not the amount frozen on Black Friday, that is the amount seized over the last 4 years. While I belive it likely that the DOJ might release what they have currently frozen, I find it extremely unlikely that they will say to the investors, "Here, this is the money that we have seized over the last four years from what we believe to be an illegal operation. You guys take it we don't want it anymore."

If the deal hinges on the DOJ giving back money that they have taken pre Black Friday, I would not be overly optimistic.

That having been said this is the best news since the shutdown in June for the players.

Good luck.

dj11 · Oct 1, 2011

I read everything posted (via links) yesterday and let it sink in overnight.

What I am left with this morning is;

-There are ethical issues with the guy/group wanting to buy FT. While they seem relatively minor, they will cause the DoJ to step back and check probably way to deep. (personally I think the Tour d France claims do not bode well as any sort of 'accomplishments' list on their resume).

-This new group hinted at preferring to NOT put up all the funds at once, and also hinted (but not said specifically) that the way to do that would be to allow players to play thru their accounts. They would probably prevent new deposits in the US, but possibly allow us to play with our own money while things (negotiations) progressed. I did not read that this would be a deal breaker, but that was a statement and how I interpreted it.

-Nothing will happen this year.

So don't hold your collective breaths kids.

Madness_does · Oct 1, 2011

Well I hope I get my money back too, or will they re open to the US market?

Trimming1 · Oct 1, 2011

I'm doubtful us U.S.A players will be getting any $'s back anytime soon.

genleemb · Oct 1, 2011

Remember the LA Times story? There was lots of hope when that story broke.

Too early to celebrate IMO.

Roller · Oct 1, 2011

TILT
I WANT MY TILT $$$

O well we can dream - doubt it will be ....
Kinda like you hitting runner runner - never happens for you - just to you.

Any news is better then no news.

OzExorcist · Oct 1, 2011

dj11 said:
-This new group hinted at preferring to NOT put up all the funds at once, and also hinted (but not said specifically) that the way to do that would be to allow players to play thru their accounts. They would probably prevent new deposits in the US, but possibly allow us to play with our own money while things (negotiations) progressed. I did not read that this would be a deal breaker, but that was a statement and how I interpreted it.

Chances they'll let US citizens play on the site, whether it's new or existing funds, is pretty much zero IMO.

The way I read the "not putting all the funds up at once" part, it sounded much more like they wanted to negotiate with the DoJ to have some of the seized funds returned to pay players with, meaning the investors wouldn't need to put the entire amount up. Even a week ago I would have laughed and said that would never have happened, but the DoJ's latest statement (http://www.subjectpoker.com/2011/09/doj-ftp-statement/) makes me think it might be a possibility, given they're already considering compensation for players. If they're open to doing that and they can reach an appropriate agreement (reliability, oversight, etc) with the new owners, then giving the money to them to in turn give to players would certainly streamline the process.

alaskabill · Oct 2, 2011

Trimming1 said:
I'm doubtful us U.S.A players will be getting any $'s back anytime soon.

I'm doubtful that the DOJ approves any deal that leaves the US players out in the cold. If they approve the sale to the Frenchmen it will be with US players getting paid back IMO.

I am skeptical, however, that the DOJ will give the French company anywhere near the financial concessions that they seem to want. I really hope this deal goes through for everyone's sake but I think its a close deal.

Right now I think the players have a pair of Queens all in against AK suited with a flush draw on the flop. There's a lot of bullets to dodge.

Aldito · Oct 2, 2011

Sweet, might get my $2.50 back! I still get a lol out of people who left large sums of money on FTP after black Friday.

KerouacsDog · Oct 2, 2011

'bonjour, ou est my money, s'il vous plait?

blankoblanco · Oct 2, 2011

Aldito said:
Sweet, might get my $2.50 back! I still get a lol out of people who left large sums of money on FTP after black Friday.

most people tried to cash out and couldn't, or could get no more than $2.5k after several weeks of waiting and emails.

but there are no shortage of busto players who get a delightful sense of schadenfreude at winning poker players with thousands in winnings being brought down to their level

dj11 · Oct 2, 2011

So? What is the consensus, does the DoJ currently have records of each of our online poker activities at FT? Or are those company records still isolated? Did/does the DoJ have that info?

I would not want to know that any check I receive (if ever) came from the DoJ.

WVHillbilly · Oct 2, 2011

Aldito said:
Sweet, might get my $2.50 back! I still get a lol out of people who left large sums of money on FTP after black Friday.

Do you lol at poeple like me who are in the US and had large sums of money on FTP ON Black Friday? How about the foreign players who had so much on there that they couldn't get it all off before FTP stopped paying out? If you're going to be a dick at least know what you're talking about.

Charade You Are · Oct 2, 2011

dj11 said:
So? What is the consensus, does the DoJ currently have records of each of our online poker activities at FT? Or are those company records still isolated? Did/does the DoJ have that info?

I would not want to know that any check I receive (if ever) came from the DoJ.

I would think the easiest solution would be to let FTP bring up the site for withdrawals only.

The Office is also attempting to obtain and examine the books and records of Full Tilt Poker. Many of those books and records are kept overseas.

http://www.justice.gov/usao/nys/pokerstars.html

Charade You Are · Oct 2, 2011

We will apprise victims of the alleged fraud of future developments as appropriate. General information regarding what is known as “remission” (i.e., return to victims) of funds that have been seized and forfeited is set forth in Department of Justice regulations found at 28 C.F.R. Part 9

.

Here is 28 C.F.R. Part 9:http://www.justice.gov/usao/nyw/zaveri/Remission_Regulations.pdf

Now I need a lawyer to interpret and help us jump through hoops. I hope this isn't going to be the process.

Exit141RTe1 · Oct 2, 2011

Here's hoping this is a great announcement. Man I mis FTP.

Dorkus Malorkus · Oct 2, 2011

dj11 said:
-There are ethical issues with the guy/group wanting to buy FT. While they seem relatively minor, they will cause the DoJ to step back and check probably way to deep. (personally I think the Tour d France claims do not bode well as any sort of 'accomplishments' list on their resume).

The DOJ does business with crooks every day. Probably literally.

Samango · Oct 2, 2011

Aldito said:
Sweet, might get my $2.50 back! I still get a lol out of people who left large sums of money on FTP after black Friday.

blankoblanco said:
but there are no shortage of busto players who get a delightful sense of schadenfreude at winning poker players with thousands in winnings being brought down to their level

^ +1

Losers lol at winners, they're still losers

fletchdad · Oct 3, 2011

Sounds like the best news I have heard about tilt in half a year, but many of the reservations mentioned above are reasonable. Still, rather have a light at the end of a long dark tunnel, no matter how dim.

Full Tilt Poker Sold to French Investors

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