Daniel Negreanu lost $170 million due to UIEGA - Page 2 - Poker News

Two Plus Two Forums Poker News & Discussion News, Views, and Gossip

Daniel Negreanu lost $170 million due to UIEGA

Post Reply Subscribe

...

Page 2 of 2

1 2

Page 2 of 2

1 2

08-05-2014 , 07:59 PM

#26

LOLNHDONKWP

veteran

Join Date: Apr 2009 Posts: 2,925

Quote:

Originally Posted by Eeyorefora

No but he used to bang Michelle Pfeiffer on the reg back in the day,when she wasn't all turned out.

Fisher Stevens his name is Wikipedia tells me.

You seriously don't think he has a look of Daniel?

Quote

08-05-2014 , 08:55 PM

#27

shulenberger

banned

Join Date: Mar 2014 Posts: 780

Quote:

Originally Posted by Jamie Platinum

Great read and horrific beat for DN.

horrific beat for anyone with more than, say $100,000 savings, is relative

Quote

08-06-2014 , 09:03 AM

#28

epcfast

veteran

Join Date: Feb 2009 Posts: 2,535

Bugsy's Club was valued at $473.22

Quote

08-06-2014 , 10:43 AM

#29

DrMickHead

veteran

Join Date: Dec 2007 Posts: 2,947

So he lost opportunities for a ton of money yet I don't see him getting involved in any effort to regulate poker in the US. Seems like it would be worth his time and effort.

Quote

08-06-2014 , 11:51 AM

#30

DonkeyQuixote

veteran

Join Date: Jan 2009 Posts: 3,283

Quote:

Originally Posted by mumpfmampf

Wow, talk about a misleading headline lol

Just a few thoughts as to why he didn´t ACTUALLY lose out on $170 due to UIEGA

1) He probably didn´t own 100 % of FCP

2) The offer probably wasn´t $170m in cash (i.e. part cash, part stock, with lock-up period of x years and the obvious general risks involved)

3) He probably couldn´t just have taken the money and run (i.e. "We´ll buy your company and you get $xxm, but you will have to stay on board for x years")

4) He got super lucky in that Pokerstars/Rational Group did buy/bail out FCP. The very same Pokerstars/Rational Group that got absurdly lucky regarding the timing of a potential IPO on the London Stock Exchange, which was on the table in early 2006. The combination of being a public listed company and the legal implications of UIGEA did (pretty much) kill PartyPoker, and the same could have happened to Pokerstars.

5) So yeah, just imagine a world where PartyPoker and Pokerstars have to leave the US market and FTP and AP/UB take over. Does anybody seriously believe that DN wouldn´t have snapped up a FTP deal?

6) This didn´t happen. What did happen however was that he signed a fat contract with the biggest and ever growing poker site. He must have made a **** ton of money out of this deal, easily 8 figures overall over the course of 7 years. Pokerstars does reward him handsomely, as any viewer of High Stakes Poker (OOPS, just pissed away $200k like a total donkey, can I have $200k more, durrr? Pokerstars will pay, you know) or the Super High Roller tournaments (5 bullets in a $100k - NO PROBLEM, SIR!) may know.

So all in all, he probably lost out on a bit of equity regarding FCP, but there´s a good chance he got close enough to breaking even in between what he didn´t get from a potential FCP deal and what he did get from the actual Pokerstars deal.

+1000, (props to someone with some actual memory/knowledge/perspective of that time which was so long ago in olden times ..... like 8 years.)

Quote

08-06-2014 , 12:48 PM

#31

fnord_too

Carpal \'Tunnel

Join Date: May 2004 Posts: 29,116

Quote:

Originally Posted by shaniac

Lol somehow assumed the deal was for Poker Mountain.

Anybody remember Poker Mountain?

In any case I could see how a poker site branded with one of the biggest names in poker would be worth that much (or way more) in a pre-UIGEA type of environment.

I remember the banned at poo mountain thread, that was pretty awesome even if it was just a gimmick having a little fun.

Quote

08-06-2014 , 01:13 PM

#32

Fish Taco

banned

Join Date: Sep 2013 Posts: 1,580

Quote:

Originally Posted by DrMickHead

So he lost opportunities for a ton of money yet I don't see him getting involved in any effort to regulate poker in the US. Seems like it would be worth his time and effort.

I always found it odd that he was more concerned with first card off the deck than he was with online regulation.

Quote

08-06-2014 , 01:18 PM

#33

reino

grinder

Join Date: Aug 2008 Posts: 564

Quote:

Originally Posted by litlebullet

yep before I discovered 2+2 I was on FCP most of the time the place was booming but they were mostly ass kissing circle jerkers and they had their little cliques and kept a lot of people out unless they liked you but ya the community was humongous and they worshpped DN like he was the second coming of Jesus

He is according to DN and choice center imo