Im still wondering why during WSOP rumors that stars pulled out were circulated (even after Bitar had been indited) when it's obv that stars was definitely still very much in the mix.
Gambling911 also regularly recommends HDUP stock as a good investment, despite it's steady 1500% drop over past two years and how single moms can make 7k a month from home...
Trust me when I tell you unless the article starts "xxxxGMT-Isle of Man" or "xxxEDT-SDNY" or contains a quote including the above....still rumor.
something is going on w/ AP too but I'm pretty unclear of what exactly it means:
07/31/2012 237 MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities. Document filed by United States Of America.(Cowley, Jason) (Entered: 07/31/2012)
07/31/2012 238 MEMORANDUM OF LAW in Support re: 237 MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities. MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities.. Document filed by United States Of America. (Attachments: # 1 Text of Proposed Order)(Cowley, Jason) (Entered: 07/31/2012)
07/31/2012 239 DECLARATION of AUSA Jason H. Cowley in Support re: 237 MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities. MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities.. Document filed by United States Of America. (Attachments: # 1 Exhibit A, # 2 Exhibit (Cowley, Jason) (Entered: 07/31/2012)
something is going on w/ AP too but I'm pretty unclear of what exactly it means:
07/31/2012 237 MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities. Document filed by United States Of America.(Cowley, Jason) (Entered: 07/31/2012)
07/31/2012 238 MEMORANDUM OF LAW in Support re: 237 MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities. MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities.. Document filed by United States Of America. (Attachments: # 1 Text of Proposed Order)(Cowley, Jason) (Entered: 07/31/2012)
07/31/2012 239 DECLARATION of AUSA Jason H. Cowley in Support re: 237 MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities. MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities.. Document filed by United States Of America. (Attachments: # 1 Exhibit A, # 2 Exhibit (Cowley, Jason) (Entered: 07/31/2012)
2p2er says:
"Not a lawyer obv, but a layman's reading is the gov has made a deal that has them "seizing" AP assets, which in this case the most important would be the player list and outstanding balances. They then apparently intend to sell those assets though to who/how much/etc is not outlined but it does say for "other claimants who have asserted an interest in those assets". Whether that means players or shareholders is also unknown.
Pretty interesting news to say the least."
another 2p2er:
"Not a lawyer and not trying to get anyone's hopes up but after reading through it states that the SDNY is taking control of the assets of AP UB in order to sell them and pay restitution to those owed money by AP. an interesting point to note is that on page 6, point 3, it states that "Blanca games hereby withdraws its claims for the assets ".. Of a number of AP UB owned/ shell companies which on page 9, point 9, have the civil money laundering charges against them withheld, where the other 5 or so companies have the charges dropped.
Just my take on the recently released docs"
POKERSTARS SETTLES DISPUTE WITH U.S. DEPARTMENT OF JUSTICE AND ACQUIRES ASSETS OF FULL TILT POKER
*
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.
*
The total amount to be paid by PokerStars is USD$547 million which will be payable over a period of three years. The money paid to the US Government will in part be used to reimburse former Full Tilt Poker customers in the United States, through a remission process to be administered by the Department of Justice. PokerStars repaid all amounts owing to its own U.S. customers shortly after it closed its U.S. operations.
*
PokerStars will also make available in a segregated bank account, all outstanding balances owing to all non-U.S. customers of Full Tilt Poker (an amount totalling USD$184 million), with no restrictions on withdrawals, within 90 days of completing this transaction. PokerStars has remained open for non-U.S. players, with all its licenses in good standing, without interruptions.
*
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.
*
PokerStars plans to re-launch Full Tilt Poker in most markets as a separate brand, following the appointment of a new, independent management team. Full Tilt Poker’s operations will continue to be run from Dublin, but regulatory oversight will be transferred to the Isle of Man. Further details of these plans will be announced shortly.
*
“We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow,” said Mark Scheinberg, Chairman of the Board of PokerStars. “This outcome demonstrates our continuing global leadership of the online poker industry, and our commitment to working with governments and regulators to ensure the highest standards of protection for players.”
*
“Acquiring certain assets of Full Tilt Poker strengthens PokerStars, brings welcome relief to Full Tilt Poker players who have been waiting over 12 months for repayment of their money, and benefits the entire poker community. Full Tilt Poker’s customers outside the U.S. can soon look forward to accessing their accounts and playing on the re-launched site, confident that they are supported by PokerStars’ history of integrity and our track record of delivering high-quality and secure online poker.”
*
"The way we have operated our business since the U.S. Department of Justice brought its claim has underlined our credentials as a responsible online poker operator,” Scheinberg continued. “In particular, the prompt repayment of our former US customers in as quick a time frame as possible demonstrated our industry-leading commitment to the segregation of customer funds. We continue to encourage jurisdictions all over the world to introduce sensible online poker regulation.”
*
*
About PokerStars:
PokerStars operates PokerStars.com, the world’s most popular online poker site that serves the world’s largest poker community with more than 49 million registered members since it launched in December 2001. It is the first choice of the world’s top players, with more daily tournaments than anywhere else, and with the best security online. More hands have been dealt on PokerStars.com than on any other site; that’s over 82 billion hands and more than 565 million tournaments played.
*
PokerStars.com and PokerStars.eu operate worldwide under licenses from the Isle of Man and Malta governments, respectively. PokerStars also operates under separate government licenses in Belgium, Denmark, Estonia, France, Italy and Spain.
Obv choked I missed this, but it's kinda ironic and would fit well into our "free will" debate in off topic. I tweeted at GaryWise1 early this am, but he didn't have anything yet either. Powered down and boom there it is...
In a strange way, happy to let others take the reigns on this one and I don't think the SDNY and Isle of Man PRs I would accept as truth were a bad prediction...it happened like that. I was wrong about PokerNews.com though, the Stars PR hit my inbox at least three hours before they mass emailed their database...
My friends get their money back, the DoJ shows they will pull strings to dodge laws their own laws (the father is fugitive so we'll let the son be in charge for now) to line their coffers...win, win.
I am curious to see how the American players react, like Hobbes has noted, it's not what USA was hoping for but I'll take that all in when I return from trying to see the moose from the ferris wheel in Regina....
Comments
Good read.
Im still wondering why during WSOP rumors that stars pulled out were circulated (even after Bitar had been indited) when it's obv that stars was definitely still very much in the mix.
I think she ate it.
Opinion: PokerStars to Acquire PokerNews.com
I've sent an email to their Editor In Chief and Senior Reporter to see what the party in question thinks...
Scoops, I think your asking price just went up!
wait, wat? PFC is being bought by Stars? Does this mean another raise for moi?
or the boot.
I'd say 25% raise
Sorry, i've recieved my reply and it turns out this is false...yet it seemed so unbiased...
Guess PStars isn't controlling everything yet after....or maybe they already have and comp is creating a clever diversion....trust no one!
Trust me when I tell you unless the article starts "xxxxGMT-Isle of Man" or "xxxEDT-SDNY" or contains a quote including the above....still rumor.
http://diamondflushpoker.com/2012/07/pokerstars-acquires-full-tilt-poker-assets-doj-agreement-complete/
gogogogogogogogoggogogogoo
something is going on w/ AP too but I'm pretty unclear of what exactly it means:
07/31/2012 237 MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities. Document filed by United States Of America.(Cowley, Jason) (Entered: 07/31/2012)
07/31/2012 238 MEMORANDUM OF LAW in Support re: 237 MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities. MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities.. Document filed by United States Of America. (Attachments: # 1 Text of Proposed Order)(Cowley, Jason) (Entered: 07/31/2012)
07/31/2012 239 DECLARATION of AUSA Jason H. Cowley in Support re: 237 MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities. MOTION For (1) the Entry of a Proposed Stipulated Order of Settlement Between the United States and Certain Absolute Poker-Affiliated Entities and (2) the Interlocutory Sale of All Assets of Those Entities.. Document filed by United States Of America. (Attachments: # 1 Exhibit A, # 2 Exhibit
Someone English this for me?
Mark
ststement from stars:
http://diamondflushpoker.com/2012/07/pokerstars-acquires-full-tilt-poker-assets-doj-agreement-complete/
PokerStars Issues Media Release, Confirms Settlement & Acquisition, Plans for Re - Pastebin.com
2p2er says:
"Not a lawyer obv, but a layman's reading is the gov has made a deal that has them "seizing" AP assets, which in this case the most important would be the player list and outstanding balances. They then apparently intend to sell those assets though to who/how much/etc is not outlined but it does say for "other claimants who have asserted an interest in those assets". Whether that means players or shareholders is also unknown.
Pretty interesting news to say the least."
another 2p2er:
"Not a lawyer and not trying to get anyone's hopes up but after reading through it states that the SDNY is taking control of the assets of AP UB in order to sell them and pay restitution to those owed money by AP. an interesting point to note is that on page 6, point 3, it states that "Blanca games hereby withdraws its claims for the assets ".. Of a number of AP UB owned/ shell companies which on page 9, point 9, have the civil money laundering charges against them withheld, where the other 5 or so companies have the charges dropped.
Just my take on the recently released docs"
vamooooooooooooooooo
Was going to ask ya what you still had out in stakes. Shitty.
Christ.
USDOJ: US Attorney's Office - Southern District of New York
POKERSTARS SETTLES DISPUTE WITH U.S. DEPARTMENT OF JUSTICE AND ACQUIRES ASSETS OF FULL TILT POKER
*
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.
*
The total amount to be paid by PokerStars is USD$547 million which will be payable over a period of three years. The money paid to the US Government will in part be used to reimburse former Full Tilt Poker customers in the United States, through a remission process to be administered by the Department of Justice. PokerStars repaid all amounts owing to its own U.S. customers shortly after it closed its U.S. operations.
*
PokerStars will also make available in a segregated bank account, all outstanding balances owing to all non-U.S. customers of Full Tilt Poker (an amount totalling USD$184 million), with no restrictions on withdrawals, within 90 days of completing this transaction. PokerStars has remained open for non-U.S. players, with all its licenses in good standing, without interruptions.
*
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.
*
PokerStars plans to re-launch Full Tilt Poker in most markets as a separate brand, following the appointment of a new, independent management team. Full Tilt Poker’s operations will continue to be run from Dublin, but regulatory oversight will be transferred to the Isle of Man. Further details of these plans will be announced shortly.
*
“We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow,” said Mark Scheinberg, Chairman of the Board of PokerStars. “This outcome demonstrates our continuing global leadership of the online poker industry, and our commitment to working with governments and regulators to ensure the highest standards of protection for players.”
*
“Acquiring certain assets of Full Tilt Poker strengthens PokerStars, brings welcome relief to Full Tilt Poker players who have been waiting over 12 months for repayment of their money, and benefits the entire poker community. Full Tilt Poker’s customers outside the U.S. can soon look forward to accessing their accounts and playing on the re-launched site, confident that they are supported by PokerStars’ history of integrity and our track record of delivering high-quality and secure online poker.”
*
"The way we have operated our business since the U.S. Department of Justice brought its claim has underlined our credentials as a responsible online poker operator,” Scheinberg continued. “In particular, the prompt repayment of our former US customers in as quick a time frame as possible demonstrated our industry-leading commitment to the segregation of customer funds. We continue to encourage jurisdictions all over the world to introduce sensible online poker regulation.”
*
*
About PokerStars:
PokerStars operates PokerStars.com, the world’s most popular online poker site that serves the world’s largest poker community with more than 49 million registered members since it launched in December 2001. It is the first choice of the world’s top players, with more daily tournaments than anywhere else, and with the best security online. More hands have been dealt on PokerStars.com than on any other site; that’s over 82 billion hands and more than 565 million tournaments played.
*
PokerStars.com and PokerStars.eu operate worldwide under licenses from the Isle of Man and Malta governments, respectively. PokerStars also operates under separate government licenses in Belgium, Denmark, Estonia, France, Italy and Spain.
Glad they are running as a separate site, more PLO MTT's for me.
Obv choked I missed this, but it's kinda ironic and would fit well into our "free will" debate in off topic. I tweeted at GaryWise1 early this am, but he didn't have anything yet either. Powered down and boom there it is...
In a strange way, happy to let others take the reigns on this one and I don't think the SDNY and Isle of Man PRs I would accept as truth were a bad prediction...it happened like that. I was wrong about PokerNews.com though, the Stars PR hit my inbox at least three hours before they mass emailed their database...
My friends get their money back, the DoJ shows they will pull strings to dodge laws their own laws (the father is fugitive so we'll let the son be in charge for now) to line their coffers...win, win.
I am curious to see how the American players react, like Hobbes has noted, it's not what USA was hoping for but I'll take that all in when I return from trying to see the moose from the ferris wheel in Regina....
Non US players are to be paid within 90 days