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Old 10-28-2011, 01:10 PM   #1
HorvatH
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Cereus Plans to Liquidate Assets, Repay Players

http://pokerfuse.com/news/poker-room...repay-players/

didnt see this posted, seems pretty big news, lets hope!
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Old 10-28-2011, 01:19 PM   #2
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Re: Cereus Plans to Liquidate Assets, Repay Players

If UB pays out before FT, I'm going to throw up in my mouth.
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Old 10-28-2011, 01:22 PM   #3
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by starvingwriter82 View Post
If UB pays out before FT, I'm going to throw up in my mouth.
If UB pays out before FT; then there is something wrong with the world
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Old 10-28-2011, 01:23 PM   #4
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Re: Cereus Plans to Liquidate Assets, Repay Players

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Originally Posted by starvingwriter82 View Post
If UB pays out before FT, I'm going to throw up in my mouth.
lol what a world
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Old 10-28-2011, 01:23 PM   #5
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Re: Cereus Plans to Liquidate Assets, Repay Players

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Originally Posted by starvingwriter82 View Post
If UB pays out before FT, I'm going to throw up in my mouth.
Big difference in owing $54 million and $300+ million IMO.
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Old 10-28-2011, 01:24 PM   #6
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Re: Cereus Plans to Liquidate Assets, Repay Players

The KGC release;

http://gamingcommission.ca/news/pr10272011a.pdf
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Old 10-28-2011, 01:27 PM   #7
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Re: Cereus Plans to Liquidate Assets, Repay Players

Ill tell u this much, we always knew AP was shady, but atleast its a small group. They intelligently looted the hell out of AP/UB, BS'ed the govt around for 6 months, said we bearly got enough to pay the players back.
A few guys might see some jail or never come back to the States again, Liquidate the company, pay players 20-100% of balance value to get DOJ off backs.

GG AP
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Old 10-28-2011, 01:27 PM   #8
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Re: Cereus Plans to Liquidate Assets, Repay Players

one time AP!. One ****ing time!
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Old 10-28-2011, 01:28 PM   #9
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Re: Cereus Plans to Liquidate Assets, Repay Players

Unless the DOJ releases some seized funds, wouldn't the Cereus assets be probably pennies on the dollar of player balances? I could be completely wrong, I don't know anything about the Cereus situation.
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Old 10-28-2011, 01:29 PM   #10
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Re: Cereus Plans to Liquidate Assets, Repay Players

Any guesses on how much 0.xx on the $ the assets will be worth for players?
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Old 10-28-2011, 01:30 PM   #11
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Re: Cereus Plans to Liquidate Assets, Repay Players

great picture for the article
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Old 10-28-2011, 01:30 PM   #12
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Re: Cereus Plans to Liquidate Assets, Repay Players

Theres a lot to speculate on, but from 30,000 feet we already know they somehow transfered the AP software platform to ClubWPT. This asset alone should be valued at 40,000,000USD or greater. Just depends how many "assets"/"funds" AP has been able to hide and what they can get value from//what the govt is willing to let them get value from.

*not saying there was any procedes from the transfer of the client since they did not report any earning to shareholders on this issue; however this is a ballpark based on early 2010 figured when many companies were buying up mid-grade euro clients.
Just giving an example of what one BIG asset might be.
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Old 10-28-2011, 01:32 PM   #13
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by SNGplayer24 View Post
great picture for the article
lol thought the same thing.

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Old 10-28-2011, 01:33 PM   #14
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Re: Cereus Plans to Liquidate Assets, Repay Players

GL to all u AP/Ub players getting 100% of funds back, im happy for u guys.
wish i could say the same for my cash on ft
seems the KGC makes moves when it needs too with the scandel repaying players and now this.The Agcc needs to take a page outta KGC book on how to get **** done
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Old 10-28-2011, 01:35 PM   #15
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by TicKinTiMeBomB View Post
GL to all u AP/Ub players getting 100% of funds back, im happy for u guys.
wish i could say the same for my cash on ft
seems the KGC makes moves when it needs too with the scandel repaying players and now this.The Agcc needs to take a page outta KGC book on how to get **** done
Not going to be 100%...
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Old 10-28-2011, 01:35 PM   #16
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Re: Cereus Plans to Liquidate Assets, Repay Players

well there's a big difference between liquidating UB/AP and liquidating everything blanca games has. They run a fairly big bingo site that has to be worth a little bit and a few other smaller gaming sites that could help us get a bigger percentage.
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Old 10-28-2011, 01:41 PM   #17
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Re: Cereus Plans to Liquidate Assets, Repay Players

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Originally Posted by lippy View Post
Not going to be 100%...
I would assume it if is not 100% the DOJ would not back off or release anything. I could be wrong though.
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Old 10-28-2011, 01:48 PM   #18
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Re: Cereus Plans to Liquidate Assets, Repay Players

so would you rather have me say gl getting 10% back? Just trying to be optimistic for your money
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Old 10-28-2011, 01:50 PM   #19
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Re: Cereus Plans to Liquidate Assets, Repay Players

Amazing. Who knew it was safer for your money to play on UB/AP than FTP.

GL to those with money tied up there. Come the **** on now FTP.
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Old 10-28-2011, 01:51 PM   #20
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Re: Cereus Plans to Liquidate Assets, Repay Players

What is the official word from kevmode on this?
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Old 10-28-2011, 01:52 PM   #21
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Re: Cereus Plans to Liquidate Assets, Repay Players

I think it's waaaayyy too early to be making generalizations about UB/AP > FTP. UB/AP's situation was far more desperate than FTP's and there was really no other option.
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Old 10-28-2011, 01:53 PM   #22
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by People_Mover View Post
well there's a big difference between liquidating UB/AP and liquidating everything blanca games has. They run a fairly big bingo site that has to be worth a little bit and a few other smaller gaming sites that could help us get a bigger percentage.
Truth. They are very good at the shell game where the original Montana frat boys are the ones coming out with the money press while other party's get screwed.
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Old 10-28-2011, 02:05 PM   #23
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Re: Cereus Plans to Liquidate Assets, Repay Players

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Originally Posted by GLUIPERIG View Post
Big difference in owing $54 million and $300+ million IMO.
UB has less players, made less profit in it's lifetime, so it's all relative. Anyway let me know when FTP pays even $54 million and we can debate it.
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Old 10-28-2011, 02:07 PM   #24
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by boohaa12 View Post
Theres a lot to speculate on, but from 30,000 feet we already know they somehow transfered the AP software platform to ClubWPT. This asset alone should be valued at 40,000,000USD or greater. Just depends how many "assets"/"funds" AP has been able to hide and what they can get value from//what the govt is willing to let them get value from.

*not saying there was any procedes from the transfer of the client since they did not report any earning to shareholders on this issue; however this is a ballpark based on early 2010 figured when many companies were buying up mid-grade euro clients.
Just giving an example of what one BIG asset might be.
I cannot imagine how the ClubWPT software could possibly be worth even REMOTELY close to $40million. That is a bizarre number to throw out.
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Old 10-28-2011, 02:17 PM   #25
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Re: Cereus Plans to Liquidate Assets, Repay Players

Quote:
Originally Posted by People_Mover View Post
well there's a big difference between liquidating UB/AP and liquidating everything blanca games has. They run a fairly big bingo site that has to be worth a little bit and a few other smaller gaming sites that could help us get a bigger percentage.
Great catch and a very good point. If they're really talking about Blanca's assets, we have a better chance of seeing our money. And if this happens, I assume the new company would assume control of non-US players?

If this investor/buyer is interested in only the software platform and assets, I'd have to assume US and non-US players would be grouped together as part of the solution.
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