Big News: PokerStars Purchases FTP(?) Cliffs in OP Last update 4/24 1:02PM PT - Page 110 - Poker News

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Big News: PokerStars Purchases FTP(?) Cliffs in OP Last update 4/24 1:02PM PT

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Last

04-25-2012 , 01:27 PM

#2726

FrancescoT

enthusiast

Join Date: Aug 2008 Posts: 91

Quote:

Originally Posted by NoahSD

No.. the DOJ sued for $1 billion. There is not a single person who is involved in this that ever thought PS would pay a $1 billion settlement.

Of course, the $750 million that people are quoting is not just for a settlement but also for the purchase of a giant, valuable poker network.

Is there absoloutely no discussion about UB/AP being involved somehow NoahSD?

04-25-2012 , 01:28 PM

#2727

NoahSD

Is Right

Join Date: Aug 2005 Posts: 18,843

Quote:

Originally Posted by bjsmith22

Sorry, but

FYFP

If ANYTHING the DOJ stole the ROW players money. Any money they have belongs to ROW players, NOT american players, as American players don't deserve their money back really, because they're all guilty of conspiracy to commit bank fraud under american "law" anyway. ROW players however had their money taken by 3 scumbag americans and the US gov't for playing on a non-US site with non-US money when they weren't in the US. HOW is it possible for someone to be affected by american law when they are not american and not in america?
American "law" is a f-ing joke and is the main reason that poker isn't more popular among average people.
again, FYP

The DOJ didn't steal anyone's money. The DOJ seized a small amount of money from FTP. FTP was going broke without this seizure, and the DOJ's been working for the past year trying to figure out a way to get players repaid. FTP continued to lose money after the BF seizures, even though they didn't repay US players, barely allowed non-US players to cash out (and lied about it), and continued to take rake and deposits outside of the US. They then shut down outside of the US when their regulator finally realized that its continued running was fraudulent.

04-25-2012 , 01:28 PM

#2728

jackaaron

old hand

Join Date: Dec 2004 Posts: 1,560

Quote:

Originally Posted by three_dee

Quote:
- The DOJ clarified that the UIGEA does not apply to online poker, correct?

Yes.

No. This is wrong. This is misinformation that makes this thread get bigger than it really needs to be (although I certainly have fun reading it).

Replace UIGEA with The Wire Act, and you will have it correct. The UIGEA still is in effect.

04-25-2012 , 01:28 PM

#2729

NoahSD

Is Right

Join Date: Aug 2005 Posts: 18,843

Quote:

Originally Posted by FrancescoT

Is there absoloutely no discussion about UB/AP being involved somehow NoahSD?

No clue.

04-25-2012 , 01:30 PM

#2730

three_dee

adept

Join Date: Apr 2011 Posts: 841

Quote:

Originally Posted by NoahSD

Actually no. They said that about the Wire Act, a law that was not involved at all in BF, not the UIGEA.

You are right, I edited that part of my post out.

04-25-2012 , 01:30 PM

#2731

allthegold

enthusiast

Join Date: Mar 2012 Posts: 63

so this is still just speculation, stilll no confirmation since the announcement yesterday bruuuuuuutal

how long do you guysthink until stars makes a public statement about this?

04-25-2012 , 01:31 PM

#2732

CGM

journeyman

Join Date: Dec 2011 Posts: 283

Quote:

Originally Posted by NoahSD

respect for being a good mod here, but how about letting this thread just evolve naturally and stop trying to control the pace and flow of content

you have plenty of other threads to lock and edit, so please stop grandstanding and just stay out of the way of this one and let it just run its course organically

you don't need to micro-manage this one bro

04-25-2012 , 01:32 PM

#2733

FDSaussure

old hand

Join Date: Apr 2006 Posts: 1,242

Quote:

Originally Posted by CGM

Are you seriously berating a mod for stating facts?

04-25-2012 , 01:34 PM

#2734

Cardsfan2006

adept

Join Date: Apr 2009 Posts: 838

Quote:

Originally Posted by Mike Johnson

Because they know there were/are a lot of players who liked playing on Full Tilt and if they don't resurrect it, someone else will. The lack of a clear #2 competitor since BF has perhaps convinced Stars that the only site they really need to worry about from a consumer preference standpoint is Full Tilt Poker (888, party, ipoker had their chance to gain market share and couldn't do it). With that in mind, if FTP is deemed your only legit competition threat, you might as well own it yourself.

Economies of scale and an absence of ridiculous spending and horrible management will allow them to run FTP much more affordably than in the past and a possible merged player pool in the future would further that even more. None of the above even mentions the massive potential to sell the FTP software to a brick and mortar or other online company entering the US market in the next couple of years(where FTP software is already extremely popular)

This is the same guy who said all along that he didn't believe the Tapie deal was for real because nobody would be dumb enough to buy Full Tilt for than $300M. Now the company who sponsors his podcast buys it for much more and his tune changes.

04-25-2012 , 01:34 PM

#2735

kikadell

Carpal \'Tunnel

Join Date: Dec 2008 Posts: 10,046

Quote:

Originally Posted by ImpliedInertia

Because FTP2 will be allowed in the US market.

This has been floated over and over again and no one is calling bs. Is there any truth to this whatsoever?

04-25-2012 , 01:35 PM

#2736

Mondogarage

Pooh-Bah

Join Date: Dec 2006 Posts: 4,801

Quote:

Originally Posted by FDSaussure

Why wouldn't they want to own another business that makes money? People have brand preferences and not everyone prefers Pokerstars.

Heineken International sells over 170 beers. Should they stop competing against themselves?

Has Heineken had to stop selling any beer to anyone anywhere around the world for the last 12 months?

Right now, PS already has the market pretty clear and doesn't have to compete against themselves, and FTP isn't operating anywhere.

You haven't made any sort of cogent case for why PS would want to change the status quo in that regard.

I suppose the ability to calculate pot odds doesn't necessarily translate to other areas of cognitive reasoning in all cases.

04-25-2012 , 01:36 PM

#2737

joshuadalton

adept

Join Date: Dec 2008 Posts: 1,122

Quote:

Originally Posted by CGM

you don't need to micro-manage this one bro

yes he does. some might think more management of this thread would be a good thing. if i see another "+1" to a ******ed statement, i'm going to gouge out my eyeballs.

04-25-2012 , 01:36 PM

#2738

gimmepilotwings

centurion

Join Date: Feb 2012 Posts: 105

Quote:

Originally Posted by Mondogarage

You haven't made any sort of cogent case for why PS would want to change the status quo in that regard.

It has been stated dozens of other times why PS would want to buy FTP. Please feel free to read them.

04-25-2012 , 01:37 PM

#2739

Odoaker

stranger

Join Date: Apr 2012 Posts: 10

Please let it be true. I'm using my one time for this and first post karma!

04-25-2012 , 01:37 PM

#2740

Mr. Wu

stranger

Join Date: Jun 2011 Posts: 13

Quote:

Originally Posted by joshuadalton

yes he does. some might think more management of this thread would be a good thing. if i see another "+1" to a ******ed statement, i'm going to gouge out my eyeballs.

04-25-2012 , 01:37 PM

#2741

Mondogarage

Pooh-Bah

Join Date: Dec 2006 Posts: 4,801

Quote:

Originally Posted by ImpliedInertia

Because FTP2 will be allowed in the US market. Stars signed a clause to get their domain back forbidding them from doing so. I'm sure in time both will be allowed back in, but FTP2 will apparently be as soon as the ink dries on legislation.

There are many ways this all goes down, all of them being pretty much the nuts for us players.

Um, no. So many factual errors, I can't even decide where to start.

"FTP2" will not be operating in any US market right now, except to whatever extent DOJ allows it for the single, solitary purpose of allowing US players to withdraw money. UIGEA is still valid law, there will be no actual poker being played. This alone makes the rest of your premise inherently flawed.

04-25-2012 , 01:38 PM

#2742

ticketmaster

The Situation

Join Date: Dec 2011 Posts: 1,200

Quote:

Originally Posted by FDSaussure

Are you seriously berating a mod for stating facts?

^ +1 thanks noah for adding real information/insight to this thread

04-25-2012 , 01:38 PM

#2743

Mondogarage

Pooh-Bah

Join Date: Dec 2006 Posts: 4,801

Quote:

Originally Posted by gimmepilotwings

It has been stated dozens of other times why PS would want to buy FTP. Please feel free to read them.

"Wanting to buy FTP" =/= wanting to operate FTP as a poker site.

Please feel free to read why.

04-25-2012 , 01:39 PM

#2744

jimsbets

newbie

Join Date: Jan 2012 Posts: 33

Quote:

Originally Posted by CGM

I would prefer more mod edits. We don't need "teh DOJ stoled ROW monies!" or "why would pokerstars want to buy ft?" On every single page. And I'm normally anti mod too but this is a little ridiculous

04-25-2012 , 01:43 PM

#2745

FDSaussure

old hand

Join Date: Apr 2006 Posts: 1,242

Quote:

Originally Posted by Mondogarage

Apparently you don't have the ability to read and comprehend. Stars buying FTP doesn't exist in a vacuum. Buying out FTP as a part of a settlement with the DOJ is better than simply paying a fine and getting nothing in return. They're also hoping that the status quo wrt US legislation will change and owning the FTP brand would be very valuable in that event.

04-25-2012 , 01:44 PM

#2746

Bene Gesserit

Carpal \'Tunnel

Join Date: Jul 2011 Posts: 6,365

Quote:

Originally Posted by CGM

Grandstanding??? WTF

Grandstanding??? Without some serious control this thread becomes a bucket of buzzard puke. The trolls and fools(I don't mean you) are lined up 10 deep to derail this thread to get themselves off! Sometimes you just need a cop. Nothing personal intended man

04-25-2012 , 01:47 PM

#2747

gimmepilotwings

centurion

Join Date: Feb 2012 Posts: 105

Quote:

Originally Posted by FDSaussure

Exactly. PS hasn't even admitted as to whether they are trying to buy FTP, let alone what their plans of FTP would be.

04-25-2012 , 01:50 PM

#2748

Lavahands

banned

Join Date: Apr 2011 Posts: 865

Quote:

Orinic Ltd, the Swiss-facing subsidiary of Full Tilt Poker (FTP), has withdrawn its application for an egaming licence with the Alderney Gambling Control Commission (AGCC), according to a statement from the regulator.