Based on these numbers plus some from the DOJ and Forbes we can almost exactly work out how much net profit FTP made per year.
They make a margin of 35% on US players and 65% on ROW.
Both make up 50%, making the average margin 50%.
They rake about 500M a year.
Minus 175M is 325M times 50% makes 162.5M.
A lot of the spending on marketing and pros is already in the pay outs.
This is money being invested into the company, not taken out of it.
If they would spend another 25M on that it would still leave them a net profit of 137.5M a year. From april 2007 to april 2011 they didn't take 444M out of the company, but put in at least 206M! Under normal circumstances a pokercompany trades at 16 times its net profit, making them owners of a 2 billion dollar company. Our money was always very safe, but unfortunately not from the DOJ.

We should be rooting for FTP now. Only because of their wise investments we can get your money back, despite what they are up against.

There are hand tracking sites which claim 95%+ accuracy with regards to observing hands. One simple SQL query and you could total up how much rake they observed every single day over the past few years, it shouldn't be hard to figure out.

Hello Mr. Ifrah,
same rumors tell that the deal was done! it is real?

No it is not done.

uh except those tracking sites don't track some mixed games

what's his motive for being in charge? he's not going go profit off the sale of ftp anyway, he's not going to run it or own it at any point in the future . .so why be involved now?

also this may sound like an irrelevant question in the grand scheme of things but how are ftp points factored into all of this? I mean I had at least an extra few K in equity with those. I wonder if the 390 million figure includes that stuff or is that something players are going to have to write off? Basically honestly, we shouldn't have too.

Never mind the rakeback deals, affiliates, VIP store and promotions.
Howies friends also made some money for all sorsts of services like parties, storeitems, catering and who knows what.

Forgive my ignorance but could someone explain what the hell is going on with this Full Tilt hearing?

I agree. I also had about 1k in FT points. As funny as it sounds, I also think I am entitled to my $500 from the mid year bonus. I worked hard to keep making enough points every month, even though I had plenty of other things to do. Time = Money.

No one has been talking about this at all; I get the feeling that most people would be so thrilled to get their actual cash back that they aren't worried about the points. Obviously if a lot of the value of your account was tied up into FTP points, this would be different for you.

Maybe Noah or someone who has been in contact with Ifrah can let us know if they've heard if negotiations include covering the full amount of all player accounts, cash and points included.

nl, plo, and lhe are bound to generate well over 95% of FTP's cash game rake. probably over 99%.

I'll atest to tht.

Saw that Xenophon on a program the other day covering gambling (Insight).

That guy is an absolute moron and hasnt got a clue and am astonished that someone who is so inflexible and blinkered on the subject is allowed anywhere near the decision making process covering gambling legislation.

There is also a scandal about over here at present concerning a bookie who went broke owing a load to customers a few million in Victoria and who managed it under the very noses of the regulatory body which is regarded as one of the best in the world.

I will repeat..regulatory bodies need to adopt new standards in order to safeguard player/client money as the current system is broken globally (and that probably included the Nevada Gaming Commission who also appear to pander to their own licencees just like all the others). IN all honesty I have yet to find a commission anywhere in the world whom I believe does their job properly.

I've been assuming points are a loss for US players. A deal seems hard enough to get done w/out considering them.

Hope I am wrong, as I have seen several posts by folks who have more value tied up in points than they have cash on FTP.

Does anyone know how much Full Tilt spent on TV Marketing (Commercials) in 2010? Is it possible to find this information somewhere? I've looked at their profit loss statement, and there is no details, just everything lumped into administrative expenses of $110 million.

It would be interesting to know. I mean there were days when they were running more than 20 commercials. Maybe $50,000 for 30 seconds, I'm not sure, but you also have the production cost of the commercial.

I am under the impression that they allowed TV networks to show programs such as Poker After Dark in exchange for free advertising time.

Not to mention the IM medals.

Because FTP is a highly profitable business. The reason it doesn't have any cash is because of gross mismanagement and not because of of market factors. If the new owners can buy it cheap (which they will do considering the current reputation and lack of cash) and build it back to somewhere near the revenue generation of pre (or even post) black friday, they will recoup their initial outlay within 4-5 years along with a tidy profit. If you then consider that the value of FTP will increase over this period, it starts to look like a decent business opportunity.

sure! and he know about your petition. Not bad at all!

I believe when FTP Doug existed Full tilt stated at one point that points would be redeemable in the full tilt store only. Obviously at that time base on information we had now FTP didn't have the money to pay back players let a lone pay out points and had an inventory of store stuff in a warehouse somewhere they wanted to liquidate instead of paying out cash to players.

Quite probably because he holds more than 50% of the voting shares of the company, and thus cannot be removed unless he agrees to leave, and cannot be forced out.

I didn't mean take over FTP as new management... I meant take over Bitar's position as CEO under current ownership given all their unresolved problems. Seems like it'd be a crappy gig. Not a big deal though...

+1 to FTP points. I could use an aeron chair and new tv

I'm not an expert on Irish extradition law, but there may be benefits to him in terms of avoiding extradition if he maintains his current employment.

I think FTP points will be liquidated in T-shirts/Hats. SHIP THE 1,00O GOT-TILT SHIRTS!!!

I wonder what is going on in meetings between the investor and the agcc. I can't wrap my head around how the agcc could be anything but a formality if this investor is serious. Why would they allow themselves to even give the sense of being an impediment. They have already contributed to this disaster and this is not the time to suddenly get all high and mighty.

Lol, between IM medals and points, I have the equivalent of 600k points. That's lot of keychains.