So what's the timeline for this transaction to officially happen? Then after that what's the timeline for American and ROW players to get paid? All this agreement talk is great, but I'm sure the American players mostly care about getting paid. Hopefully all of us will be paid within a few months would be ideal.

wheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

Thanks a ton mr. Noah. So one last thing, I assume that after ALL of this is completed is when the DOJ will worry about paying US players back? thanks again noah

Just want to compliment you on the prompt responses / insight Noah.

CHAAAAAAAAAAAAAAARLIEEEEEE

At the very least, the part of the transaction where GBT gives the DOJ the agreed upon $$ must occur before they start thinking about paying US players back.

Once the assets are transferred, it's two separate issues, the US repayment, and the FTP restart and ROW repayment (for those who want to withdraw). Those events will run separate from each other once the transactions are complete (ie, US player repayment will have nothing to do with when FTP restarts or how ROW players are being repaid and vice versa).

This was the last major obstacle in this deal. Rest of the steps should be very straight forward. It's only matter of time now. Shouldnt take more then a month.

Cant wait to play on GBT's FTP again.
GG GBT.

". The previously mentioned FTP Board of Directors will not be eligible to participate."
So Howard and Ferguson are out completely. That has to be a hard pill to swallow knowing you started such a cash cow then ****ed it up. Seems they stole enough already though. Ha I just looked down and I'm wearing a Tilt tee shirt today.
Is the hardest part over with now or still yet to come ??

Hanukkah Harry delivers yet again

I'd like elaboration on the underlined part.

1. Believed by who? The reporter (diamond-flush) or one of the sources? Is this speculation by someone who doesn't know, or a coy response by someone who does know but isn't supposed to say or can't be 100% certain?

2. 'Shortly'? days/weeks/months? Is 'shortly' just a placeholder guess because you don't know how long but think it will follow a timeline that you subjectively consider to be quick? Or do you have a specific (albeit rough) timeline for these events that you could objectively quantify as being 'short'?

So a safe assumption would pry be about another month or 2 before US players even are thought of being repaid? Also, What kind of assets have to be forfeited to the DOJ? Is this personal assets like cars/houses or something different? Sorry if i'm asking 1st grade questions. I'm just trying to get a better understanding of all what is going on and how close are to seeing our money. Thanks

I think a month or two would be reasonable, yes, particularly with the holidays, IMO.

Did he speak to all employess or was this just another board meeting?

****ing amazing I had already kissed my 30k goodbye.

One line is the article stood out for me.

Before we all go spending our cash, if this is the wording of the agreement it seems to have a little wiggle room in its meaning.

Hopefully we wont have to roll our balances 5X the rake before we can withdraw or any such nonsense.

I just find it mindblowing that the DOJ/GBT agreement was signed on the 17th of Nov and its taken till the 15th of Dec for FTP to agree.

Just like their customer service...... FTP is still slow as ****.

so part of the terms is doj agrees to drop its civil suit against full tilt, which (may be mistaken) is part of the 3 billion that the DOJ is trying to get out of the major poker sites that were operating in the us?

if so then lols doj

I'm forever blowing bubbles,
Pretty bubbles in the air,
They fly so high,
nearly reach the sky,
Then like my dreams they fade and die.
Fortune's always hiding,
I've looked everywhere,
I'm forever blowing bubbles,Pretty bubbles in the air.

FTP rip, FTP2 may you rise and shine!

I'm not sure the last time was when I was accused of being coy, but lets call it careful instead.
Look, I could tell you it might happen in 3 days, but then when it takes 2 weeks instead, I am accused of not being honest. If I say a month, and it happens in 3 days, I look like I just took a guess out of thin air. Its a no-win really.
I can tell you that there are four parties to consider here: GBT, FTP, the DOJ and the Judge in the case.
If it was up to GBT and/or FTP, I can tell you that both are totally committed to get this done as a priority. The DOJ, as much as we would like to think that we are the most important thing in their world, actually can be busy with other cases as well. Keep in mind, no matter how you celebrate, its the holiday season. That means vacation time etc, for key personnel, possibly even the Judge.
I can tell you that it could happen in a week or two. Factor in the holidays, could be a little longer. Remember there are additional steps to happen after this, but make no mistake, todays report is HUGE.
We have said all along that no one was being paid by Xmas, it just was not possible. That said, the updates we have presented should help everyone understand that GBT and FTP have been working round the clock, along with the DOJ, to move it along.

Bink

The assets in question here are the ones belonging to the now insolvent company(s) that comprise FTP. No personal property belonging to individuals is considered in this action, since none of those will be re-purchased by GBT.

The forfeitures and dismissals referred to, are with respect to the FTP COMPANIES only, nothing to do with the charges, criminal or civil, facing any other companies, entities or individuals.

I was not present, and do not know how many employees were addressed, or if that process is complete.

Cheers for your efforts DF and all you guys at SP

YEP thats what GBT is gonna do piss off the only remaining customers they can have and ruin a company right from the get go!!
The understanding (at least from what i gathered) was people would be paid and the larger stacks would have an option to buy shares in the company.
you are not being made "whole" if you have to 'roll" it 15X to get anything back and I am sure this would not dismiss the class action suits against them at the moment

No one said anything about rolling your balance to 5x the rake, and rumors to that effect accomplish nothing.

This is a complicated legal process, not just a couple of phonecalls. Personally I think this key step was completed in a reasonable amount of time,considering the complexity of the legal implications of the agreement and the number of people that were party to it.

how likely is that US players are going to be paid 100% minus maybe some bank wire fee or something small and silly, but essentially be paid 100%. The DOJ is asking for 80M which is about half of whats owed to US players, is the other half already been confiscated or seized and when combined (GBT payment and confiscated money) US players are made whole?