Live from the Two Plus Two Studios, February 7th 2012 - Nick Jones & Two Plus Two Player Summit This week on the Two Plus Two PokerCast Mike and Adam get things started by covering the latest breaking news in the ongoing Full Tilt Poker saga involving over $16 million in loans to Team Full Tilt members. The guys then connect with PokerFuse.com editor and co-founder Nick Jones to get the inside story on the Two Plus Two player summit that recently took place at PokerStars headquarters. The summit was focused on discussing the rake changes made by the online poker giant which has caused much controversy in the poker community. In forum static Mike and Adam recap their SuperBowl weekend, cover some general poker gossip and of course give away the password for the February 12th Poker Stars VIP Club Invitational for PokerCast listeners.


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frist

DL: http://pokercast.s3.amazonaws.com/twoplustwo_208.mp3

2nd, oh yeah!

please stop with the I'm first posts, it's childish and silly

... cannot resist ... 4 t h

fifth for the fifth week running it seems

Does this count as third?

Does this count at 7th?

I be 6 and you be 9 female only please. Couple of million for other sick things.

Here is a repost of the data discussed on the PokerCast:

I made it.

how could anyone looking at that table not think its completely transparentand easily comparable with other sites

and 14th

Great show as always!

Isn't the swing always 800k and not 1million? If he bubbles, he loses 250k. If he does not bubble, he wins 550k (250 he paid + 550 profit). 550 - (-250) = 800. This is different from a prop bet, where both parties put up an amount and there really is that big swing.

Edit: Mike, you're not boycotting Venetian?

Nah, my beef isn't the $10 staff appreciation add-on. It's how it's collected and accounted for. When I reg'd for the $300, the ticket clearly stated $300 + $45 + $10 on the reciept and it was all collected at the time of registration.

They gave me proper accounting and the appropriate time to decide if I wanted to register for the event or not. That's a far cry from forking over a $20 bills going into who knows who's pocket minutes before the event starts so I can start with the same number of chips as every else.

I assumed the question about boycotting Venetian had to do with Sheldon Adelson opposing legalized online poker, not a staff appreciation add-on.

lol'd at freudian slip 53:10

Maybe I missed it, but did Mike/Adam ask either Nick or Steve about why the rake is ridiculously high at PLO25 to PLO100?

Awesome show as always guys. Appreciate your analysis and thoughts on markers and money owed to FT/GBT at the beginning.

Mike: Your rant re GBT and the FTP player loans was offside, imo.

In an asset purchase M&A transaction, it is 100% standard for the buyer to assume collection of receivables, promissory notes and other non-cash assets such as player loans. Typically, such assets are valued at a discount based on good faith estimates of collectability. Very often, there will be a negotiated post-closing adjustment based on the actual collections experience. These matters are always addressed in the detailed terms and conditions of a deal prior to closing.

In this case, GBT seems to be attempting to assess the value of the FTP player loans in a pre-closing due diligence exercise. It would be reckless for GBT to accept FTP's estimate without some independent process, and it is likely that FTP agreed to allow GBT to contact specific FTP player-debtors about their debts owed to FTP.

Whether or not GBT violated any non-disclosure agreements by posting on the Interweb and calling out specific players in public is between GBT, FTP and the individual players. However, the possible harm to FTP player-debtors seems miniscule in relation to the wider impact on FTP player-depositors who stand to benefit from a successful closing of the proposed GBT-FTP deal.

Clearly it isn't just between those three parties as GBT knows full well that this deal involves thousands of people that are also owed money that are watching this deal unfold closely. If GBT didn't know it would get the poker community all riled up, they wouldn't have gone to the media and leaked out a select few of the names on the list, they would have just contacted the players behind the scenes. Further, for GBT to out these players as being deadbeat welchers when GBT weren't the ones who originally loaned the money(provided markers) and don't know any of the specifics of repayment terms, whether the numbers are even close to accurate and other details is offside on their part, IMO. Also, GBT should have come up with an adjusted value they were happy with for the 16.5m in staledated markers before they originally arrived at the $80m asset purchase amount back in December. Nothing has changed since then. I stand by my belief that if the likes of Layne Flack and Mike Matusow paying back gambling debts carries any kind bearing on making or breaking the deal, then the initial asset purchase agreement wasn't that real in the first place.

Is it ironic that the EPL's "ethics committee" was successfully sued by a registered sex offender after only its first season?

What happens if they come back for a second season? Should we expect a war criminal to bring assult charges on Annie duke?

Between EPL's ethics and Ultimate Bet I just have to shake my head and wonder what the hell goes through peoples minds. Its gotta be some sick joke, at least then it would make sense.