Full Tilt apparently SOLD!!

STR82ACESTR82ACE
in Online Poker
New News today, big enough to warrant its own thread

"Full Tilt Poker and Groupe Bernard Tapie Sign Acquisition Agreement

Dublin, Ireland (September 30, 2011) Laurent Tapie, Managing Director of ‘Groupe Bernard Tapie’ announced today that the group has signed an exclusive agreement with the Board of Directors of Full Tilt Poker to acquire the company and all of its associated assets.

This agreement, which includes the repayment of Full Tilt Poker’s world-wide players in full, is subject to several conditions; the first of which is a favorable resolution with the United States Department of Justice. Discussions with the United States Department of Justice will begin immediately.

‘Groupe Bernard Tapie’ has over 30 years of experience in the salvation of financially distressed businesses, with over 40 companies acquired and managed to profitability, the most well-known being the sport equipment giant, Adidas."


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Full Tilt Poker and Groupe Bernard Tapie Sign Acquisition Agreement - Poker News - News, Views and Gossip

Comments

  • RWPKRPLRRWPKRPLR
    They Still have a long way to go, but their goal is to have it reopened by Jan 2012. This great news for online poker in general!!!
    Try this link...
    http://www.igamingfrance.com/full-tilt-exclusive-in-his-first-interview-laurent-tapie-says-he-believes-in-the-full-tilt-project-and-has-the-funds-to-repay-players-but-admits-there-is-“still-a-long-way-to-go”/24972
  • kwstevekwsteve
    Good news for the industry. Now all that needs to happen is the US to legalize online gambling and start collecting their piece of the action. They can sure use the revenue.
  • DennisGDennisG
    Is it really good news for the industry (aside from repayments)? Are players just gonna flock back to them so they can get screwed a second, maybe third time? (like AP/UB). Do new owners (a convicted crook no less) really make a difference??
  • jontmjontm
    DennisG wrote: »
    Is it really good news for the industry (aside from repayments)? Are players just gonna flock back to them so they can get screwed a second, maybe third time? (like AP/UB). Do new owners (a convicted crook no less) really make a difference??

    +1

    This is good news for the players, not for the industry IMO, just shows that the industry is willing to lay with dogs if there is a buck in it.

    The PR also says they will be looking not repay players all by themselves and
    Doubt the DOJ is going to see this as guardian angels coming to the rescue, if they strike a deal with a group like this and return funds only to see something shady happen down the road when there are already red flags, sure gonna look bad on them.

    So fixing games, tax evasion, not the kind of people that would rig an algorithm right? seeing as it would be almost impossible to prove...
  • MiloMilo
    The only thing I give a rat's arde about is whether or not I will get my ~$50.00 back. I have long ago written it off, so if I get to start playing with it again, fine. Will I ever deposit $$$ on a resurrected FTP? Not even if they promised me sexual pleasures from Anne Hathaway and Salma Hayek on alternating days for the rest of my life.











    Okay, I might throw a hundo on for that . . . I'm weak.
  • 800OVER800OVER
    Milo wrote: »
    Will I ever deposit $$$ on a resurrected FTP? Not even if they promised me sexual pleasures from Anne Hathaway and Salma Hayek on alternating days for the rest of my life.











    Okay, I might throw a hundo on for that . . . I'm weak.

    A hundo a day?
  • MiloMilo
    Naah, I'm cheap . . . I'd go a C-note per week, though . . . I figure the wife would find out before the $$$ ran out, so I would die a happy man, and she would still have some cash to console her.
  • HobbesHobbes
    Milo wrote: »
    The only thing I give a rat's arde about is whether or not I will get my ~$50.00 back. I have long ago written it off, so if I get to start playing with it again, fine. Will I ever deposit $$$ on a resurrected FTP? Not even if they promised me sexual pleasures from Anne Hathaway and Salma Hayek on alternating days for the rest of my life.

    Why alternating days? ;)
  • djgolfcandjgolfcan
    Milo wrote: »
    The only thing I give a rat's arde about is whether or not I will get my ~$50.00 back. I have long ago written it off, so if I get to start playing with it again, fine. Will I ever deposit $$$ on a resurrected FTP? Not even if they promised me sexual pleasures from Anne Hathaway and Salma Hayek on alternating days for the rest of my life.
    Okay, I might throw a hundo on for that . . . I'm weak.

    Wow, Milo, you do live in a fantasy world..................................


    There's no way we are ever going to see our Full Tilt money again. :)
  • jontmjontm
    Read the more realistic and less "press release" ish version by Wall Street Journal, paints a bit different of a picture:

    Full Tilt Gets Offer From French Investor - WSJ.com
  • SuperNedSuperNed
    I was going to say, the conditions alone will ensure that takeover will never take place. The DOJ won't settle this for years and aren't in any hurry to put online poker back in business.
  • DennisGDennisG
    jontm wrote: »
    Read the more realistic and less "press release" ish version by Wall Street Journal, paints a bit different of a picture:

    Full Tilt Gets Offer From French Investor - WSJ.com

    gotta subscribe to read the full version? coles?
  • jontmjontm
    not sure if the full article is there for each new IP, was able to read on first "surf in". Cliffs notes: Agreement states only If a deal can be made with DOJ regarding the 1 billion in civil action b) Players will repayed but no terms or ...time periods are given, the new ownership would like the DOJ to give back $150 million in seized funds for that to happen and have the civil settlement payed in instalments off future revenues from operating around the globe outside the US. The current owners would recieve no cash but "poker pros" who make it up would recieve shares in new company if acceptable to DOJ. Pretty sure the DOJ went through all this trouble to say "Yup, despite your previous convictions (new owners) you seem like a bunch of great guys and we just want to put this to bed. And it's only fair that guys we called frauds last week can something latter down the road. Deal, we'll start the paperwork." I believed Wonka story more likely.

    All the mainstream and business reports paint a much different picture than the optimistic celebrations.

    This latest FTP PR really isn't new news, it's just a rewritten version to spark hope. One buddy is helping out another by saying, yup we are gonna fix it, creating postive press for the two. Happens all the time.

    With out the DOJ agreeing to some very generous terms, nothing has been sold.

    Odds on them giving everything in the cliffs?
  • MiloMilo
    Hobbes wrote: »
    Why alternating days? ;)

    I'm 47 and don't recuperate the way I used to from strenuous activities. Also, I like to take my time . . .
  • getem76getem76
    Bought or not, FTP is pretty toast...but the software might be worth the investment if you can spin the interfance enough to be unrecogizable and fresh and have something strong enough to run it all, money can be re-made from it. Durr belives its worth 20 mill, its hard to say what software is worth if you can market it properly and steal some of the Party gaming, and Pokerstars share who is to say the value of it.
  • djgolfcandjgolfcan
    Check out the promotion the new Full Tilt owners are floating out there. A $30million GTD tourney at Wembley Stadium.

    I got the video release in an email from Rakeback.com

    Full Tilt Poker SOLD! Now they unveil their plan to get players back...

    As most of you will have heard by now Full Tilt Poker have provisionally been sold to French tycoon and convicted fraudster Bernard Tapie.
    Since then they have unveiled a plan (along with a slick trailer) to host a $30m GTD tournament at Wembley Stadium, London, in an attempt to bring players back in their thousands.

    Can't get the video into the post, guess you'll have to go to rakeback.com to see it.
  • MiloMilo
    This happened a little while ago (1-2 weeks). FTP has not been sold. A conditional offer to buy FTP has been made by the Tapie group. The biggest condition is a settlement with the DoJ in the USA. It is sort of a one step forward, waiting for the two steps back, kind of arrangement. If you are the DoJ, are you letting Lederer et al skate?

    Waiting, but not hoping for much.
  • HobbesHobbes
    djgolfcan wrote: »

    Can't get the video into the post, guess you'll have to go to rakeback.com to see it.

    Here's the vid

  • T8urmoneyT8urmoney
    BREAKING: GBT and DOJ Strike Deal, FTP Sale Pending | Subject: Poker
  • jdAA88jdAA88
    huge news if true via twitter
    CNBC CNBC
    Full Tilt Close To Settlement With DOJ - DOJ Would Likely Pay Back Full Tilt Players From Seized $115 Million - WSJ
    20 minutes ago Favorite Retweet Reply
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