Full Tilt Poker Breaks Silence, Issues Statement to PokerNews.com

[deucem]

Why don't they give James Packer a call?
He has interests in casino's in the US, China and Australia and he has money to burn, as well as the contacts/people in the industry to make a real goer of Full Tilt.
I would have thought Full Tilt would be a nice fit for him especially if they get online poker legal in the US and here in Australia.

 

[Charade You Are]

Regardless of our legal situations here, they stole our money... and money of players that didn't have ambiguous legal situations.

FTP was stupid by letting players play with $ they hadn't received (thanks to the DOJ) and by not keeping players funds separate like stars had to.

But if anyone stole money, it was the DOJ.

 

[OzExorcist]

Why don't they give James Packer a call?
He has interests in casino's in the US, China and Australia and he has money to burn, as well as the contacts/people in the industry to make a real goer of Full Tilt.
I would have thought Full Tilt would be a nice fit for him especially if they get online poker legal in the US and here in Australia.

That'd be because he's an Australian citizen, and owning and operating an online poker site is very, very illegal in Australia.

 

[Chemist]

FTP was stupid by letting players play with $ they hadn't received (thanks to the DOJ) and by not keeping players funds separate like stars had to.

But if anyone stole money, it was the DOJ.

They haven't actually stolen any money yet.
Just caused a liquidity problem with a business such that it cannot return clients funds that it was holding.

However if they do take any money from FT before all the clients funds are returned then that could be interpreted as stealing.

 

[F4STFORW4RD]

That'd be because he's an Australian citizen, and owning and operating an online poker site is very, very illegal in Australia.

I'm quite surprised at that, I think of Australia as generally quite a sensible and pragmatic nation.

 

[OzExorcist]

I'm quite surprised at that, I think of Australia as generally quite a sensible and pragmatic nation.

*shrugs*

We've got our quirks like anywhere else.

 

[deucem]

That'd be because he's an Australian citizen, and owning and operating an online poker site is very, very illegal in Australia.

No it's NOT.

Because of the Interactive gambling Act it is illegal to allow Australian citizens to play online poker for money on any site.

http://en.wikipedia.org/wiki/Interactive_Gambling_Act

It is NOT illegal for Australians to play online poker or to own poker sites.

The Australian government's Productivity Commission recommended legalising and regulating online poker in June last year.
http://www.pc.gov.au/projects/inquiry/gambling-2009/report (chapter 15 in volume 2)

Wilke and Xenophon have shut the debate (and the recommended reforms) down.

Meanwhile I am fairly sure that James Packer owns 50% of betfair and that betfair has a poker site albeit overseas.

 

[OzExorcist]

...yes, I'm well aware of the terms of the IGA.

That said, I have to admit there's a loophole I didn't consider / my statement was incomplete: an Australian like Packer could buy a site as long as they banned Australian citizens from actually playing on it. It's the flipside of that loophole that allows Betfair to operate here: they offer online sports betting (legal here), but not poker or any other casino games that they're allowed to offer overseas.

He definitely couldn't buy the site and allow Australians to play on it though, as he would be guilty of allowing Australian citizens to play online poker for real money.

Anywho, I suspect he and Crown are probably much more focussed on trying to get their brick and mortar high rollers back from Singapore, or working on their Macau joint ventures.