*** Pokerstars buys Full Tilt ...... ***

Debi

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(Closed this thread on 8/01/12 - you can comment in this thread now: Pokerstars Buys Full Tilt Poker - Deal Complete!)

Rumor is all over today that pokerstars has bought Full Tilt - don't know if it is true or not - but appears to have merit from all I can find so far.

Unbelievably great news if true!

Will add details as we hear them!

***Edit - went searching for details and found this in a thread at 2p2:

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.
 
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PattyR

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I Didn't believe it until i saw the tweet from the Chilipoker CEO.

impressed.
 
Poof

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I heard the same thing and came hear to see if there was anything further and I heard a bit, it may open back up for US in 1-2 years?
I won't hold my breath, but I am hopeful as hell.
 
Tammy

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I heard the same thing and came hear to see if there was anything further and I heard a bit, it may open back up for US in 1-2 years?
I won't hold my breath, but I am hopeful as hell.
This would be so awesome. And weee! I'll get me $20 back. :p
 
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Holy shi* if this happens and is true.

This would be great news, this would actually be the only way to 100% my return back to full tilt poker if I knew pokerstars bought it.

Lets face it, these days pokerstars is the "only" poker site I can trust 100% with my money. It's the only site that could successfully bring full tilt poker back to what it was and I think it would be the only site which could make all other players return.

I hope this is true for all all american players too.
 
JOEBOB69

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higher rake,less promos,etc.
give me back my money and reenter the market.
 
WVHillbilly

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Explain your source please!!!

From 2+2 thread:
Just heard this elsewhere from a separate and very reliable source (who heard rumor of it from inside industry)
... dare we believe??
 
acky100

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Holy shi* if this happens and is true.

This would be great news, this would actually be the only way to 100% my return back to full tilt poker if I knew pokerstars bought it.

Lets face it, these days pokerstars is the "only" poker site I can trust 100% with my money. It's the only site that could successfully bring full tilt poker back to what it was and I think it would be the only site which could make all other players return.

I hope this is true for all all american players too.

+1
 
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RamdeeBen

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Yea - this is what he said for those who didn't see it:

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



:D

Hacked twitter account?:(

They seem to always get hacked. By the way, what is his twitter account?
 
dj11

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Makes no sense to me. Unless Stars is having problems with Zoom and wants to just buy Rush.

The reason it makes no sense to me is that the clientele for both sites was/is essentially the same people. We all all had accounts on both sites. A few were mainly loyal to FT, but they probably also had something going at Stars.

I will guess that the DoJ might not want to handle player payouts. They are getting a lot of shit as it is, and hardly would relish the idea of being in the gambling business (purely my guess).

For this to make any sense, I would guess that Stars might take on this thorny issue IF they could get some of those initial sanctions (to not be able to service the US) altered in a way that makes sense to Stars. They are not going to pick up a number of new customers that would justify it on a 'investment' basis.

Very peculiar.
 
JOEBOB69

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Makes no sense to me. Unless Stars is having problems with Zoom and wants to just buy Rush.

The reason it makes no sense to me is that the clientele for both sites was/is essentially the same people. We all all had accounts on both sites. A few were mainly loyal to FT, but they probably also had something going at Stars.

I will guess that the DoJ might not want to handle player payouts. They are getting a lot of shit as it is, and hardly would relish the idea of being in the gamble business (purely my guess).

For this to make any sense, I would guess that Stars might take on this thorny issue IF they could get some of those initial sanctions (to not be able to service the US) altered in a way that makes sense to Stars. They are not going to pick up a number of new customers that would justify it on a 'investment' basis.

Very peculiar.
Makes alot of sense in the long run.+1,000,000,000 if they can reopen to the US market
 
PattyR

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Hacked twitter account?:(

They seem to always get hacked. By the way, what is his twitter account?

If i recall on 2+2 there was a 2nd reliable tweet from somebody....see if i can find it.
 
blankoblanco

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please be true. so skeptical though, even in the face of all the sources. i just hope its not a case where one group known for being very in-the-know was somehow misinformed and that misinformation spread to all their other sources and created a false rumor

fingers crossed
 
WVHillbilly

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please be true. so skeptical though, even in the face of all the sources. i just hope its not a case where one group known for being very in-the-know was somehow misinformed and that misinformation spread to all their other sources and created a false rumor

fingers crossed
Agreed. Seems too strange to be true but here's to hope!
 
Makwa

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Wow this is exciting... good thing Tapie is out too...
 
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Makes Sense

Although it is early in the process, it does make sense that the DOJ would allow a transaction that would involve a return of all funds to US citizens.

If you think about it, it is their responsibility and in their best interest to get this done.

To put it simply: They got the bad guys off the street and saved/recovered all the monies owed to US citizens.

However, I think any expectation or excitement related to the return of online poker for US citizens by any company (poker stars) that has violated US laws in the past would be more than just premature.

Hopefully the check is in the mail.
 
WVHillbilly

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Supposed GBT release:
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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