i dunno like i said it all sounds very weird to me too and im extremely skeptical

Im not so sure how much operating capital they had left...I had a few cash outs after BF to neteller and they were coming through...very slowly though. As the cash out time started to get longer and longer for each subsequent withdrawal it made me think "then" that they could be relying on and operating solely off new deposits...slowly falling further behind.

Off course my last few cash outs (the bigger ones) never made it home..damn.


noob multi-quoting fail!!

Karak, your integrity is not in question. I would never blame u for tellin us this info.
The guy who told you has been right. And wrong. So anyone with a brain can understand this is not to b taken as fact. And that no one should trust anything from ftp until cash is in my bank account

Leda, if that's the case then they also pickup the full tab for the 1B civil suit which makes the deal implausible.

There will be no official press releases. One day FTP will just be turned on again.

If the deal is true and falls through, FTP should sell the company to the US players, issuing them a % of the company corresponding with how much is owed to them.

yeah i know, but if this is FTP doing what ive theorized they may have done in the past, ill feel really stupid for having been a part of it.

At least we'll know if there's any truth to the rumor in less than 2 days.

How many times do your sources "within FTP" need to burn you before you stop reporting it altogether?

I always assumed the doj wants max equity from the sites. Telling ftp they owe 1 billion and winning would likely not be the most ev move.

I think allowing ftp to continue . US players being paid, and doj keeping the frozen funds is best case scenario for the doj

Also. Id rather hear rumors than nothin at all.

What incentive does the current ownership of ftp have sayin they sold 100% of the company ?

karak, since these are private companies we will never know the real deal correct.

Not necessarily - DOJ gets a win - the indicted owners of FTP lose their entire stake in the company and get nothing in return - US players get paid. DOJ keeps seized funds - criminals are not rewarded. You still need to resolve the class actions and the company would need to agree to cooperate with any further investigations. The class actions would be weakened by payment of FTP. So much that would still need to be settled.

As other have pointed out - it looked like FTP couldn't also fund the Euro players - and if that is true, then really these guys are putting up to ~$300M into FTP - that seems like a ton of money to me for this business - especially if half that money then hits the withdrawal button on day one (and you can but a bunch of it will - surveys in Germany say half of player will pull the trigger). So it seems pricey to me though, so I feel like its what they 'hope' to get done, rather than whats been agreed....but this is a plausible way out for the FTP people if they have found someone willing to put up this much cash AND they have gotten both the Class Action people, DOJ and the AGCC (new entity would agree to make sure the FTP gaming companies were probably funded) to work together to make it happen. I'm skeptical - but this is one of the few ways I could have seen this work - but is FTP worth $300M in its current state? Well - all they needed to do was convince someone it was I guess - and from these boards we can see that would have been possible, whether true or not!

And, if they merge the FTP business into another poker or gaming company that hasn't been involved in the US, this entity would most likely be able to participate in US online gaming when it happens. But such a deal would have to mean a merger and probably a rebranding - very gutsy if that is the plan - tons of risk for the amount of money involved.

Ask yourself this - if say a Bingo business went to its investors and said, we want to acquire FTP's assets (which we will re-brand) and merge them into our business and it will cost us $300M for $150M in players (some of which may leave) - can you give us the money - would anyone do that? Say half leave - so they put up $300M for $75M in player assets (and lots of goodwill) - I guess thats like buying a poker site for 4 X Balances - that seems high. But I dont know the math on return on player assets either.

So if these guys get bought out this way - will everyone forgive Howard, Chris and Bitar?

We shall see soon enough.

True but its all relative.

If Pokerstars has a client base of 150m players and 25% of it is American then thats 37.5m players.

If Full Tilt has a client base of 75m players and 50% is American then thats 37.5m players.

Obviously those numbers are just for an example but I dont think its unreasonable to presume that Stars had double the player base that full tilt had.

So they can sell the rest of their FTP$ on the open market at 30¢ instead of 15¢.

If the seized funds were enough to cover the cost of the investigation and litigation, perhaps. But it also sets a bad precedent for the other pending cases against Cereus (not likely to go anywhere anyway) and Stars.

What is the point of FTP spreading false rumors at this point? The site is shut down and the public hearing is only 2 days away.