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FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP) FTP Discussion Thread (Everything but big new news goes here. Cliffs in OP)
View Poll Results: Do you want the AGCC to regulate the new FTP?
Yes
1,156 56.58%
No
887 43.42%

09-28-2011 , 04:38 PM
Quote:
Originally Posted by Mondogarage
Because when you buy a company, that entails buying the assets and liabilities of that company. The existing affiliate contracts are considered an asset. Typically, one must go through a bankruptcy court proceeding in order to be able to "reject" certain existing contracts. Remember, we're talking about investors buying the company, and not just picking and choosing certain assets to buy.

Is anyone in this thread an affiliate who's familiar with the contract language they signed, e.g., is there a provision that terminates the agreement if either the affiliate or FTP changes hands?
From https://www.pokerstarspartners.com/p...onditions.html

Quote:
8. Term and Termination

8.4. We may terminate this Agreement at any time on 30 days' written notice.
I can't access FTP's Affiliate T's & C's, but I remember something very similar.
09-28-2011 , 05:12 PM
Quote:
Originally Posted by epix-
Is there ANYTHING new about the AGCC hearing?

how can there be no news?!?
I think that for about the next week or so this is one of those cases where no news is good news.
09-28-2011 , 05:19 PM
Quote:
Originally Posted by epix-
Is there ANYTHING new about the AGCC hearing?

how can there be no news?!?
Another slowroll

but seriously, every day I wake up, first thing I do is check NVG and have to check the last 3 pages of this thread for any news.
this is taking so long, just wanna move on already
09-28-2011 , 05:48 PM
Quote:
Originally Posted by TheDarkElf
From https://www.pokerstarspartners.com/p...onditions.html



I can't access FTP's Affiliate T's & C's, but I remember something very similar.
Well, there you go, then. Given that, I'd be stunned if any investor did not end all affiliate agreements. Heck, it would help them start in a less encumbered position.
09-28-2011 , 05:52 PM
Quote:
Originally Posted by eliduque
(Greenstein has said in interviews that Ivey doesn't understand the public's anger w/ him)
Barry Greenstein defended Joe Sebok who outright profited from UB/AP stealing from players.

He simply cannot be trusted. You are a mug if you trust him now. Or his good friend Phil Ivey. Or the rest of them.

Edit - fool my once fool me twice.
09-28-2011 , 05:56 PM
Why on earth would a new investor have to spend a week in conference or negotiations with the AGCC?
Originally there was a one or two day hearing scheduled to determine if FT's gaming license should be permanently revoked. This was a week and a half ago. Since then this new "investor" has supposedly been in negotiations with the AGCC and a hearing with the DOJ is set for this upcoming Monday? Is it possible the hearing with the AGCC has ended days ago and they don't want to say anything pending the outcome of negotiations with the DOJ? If those negotiations don't go well FT's license is permanently revoked and if they do go well then magically the suspension is lifted? This for the AGCC to save face one way or the other?


AGCC??? LololololololololoLoloLolololololol!!!!!!!!

Where's AGCC's statement admitting they were grossly negligent? Where's their statement assuring players on the sites of their other licensees that there's nothing to worry about because they stepped up their player protection measures? What a sham! Sham licensing authority is going to hide in their little out of the way island where nobody can legitimately confront its members because nobody can even find the freaking place on a map. Somebody with a good boat and GPS should get over there and have a little conversation with the crooks that run the AGCC!

Last edited by EYESCREW; 09-28-2011 at 06:08 PM.
09-28-2011 , 06:08 PM
Quote:
Originally Posted by EYESCREW
Why on earth would a new investor have to spend a week in conference or negotiations with the AGCC?
Originally there was a one or two day hearing scheduled to determine if FT's gaming license should be permanently revoked. This was a week and a half ago. Since then this new "investor" has supposedly been in negotiations with the AGCC and a hearing with the DOJ is set for this upcoming Monday? Is it possible the hearing with the AGCC has ended days ago and they don't want to say anything pending the outcome of negotiations with the DOJ? If those negotiations don't go well FT's license is permanently revoked and if they do go well then magically the suspension is lifted? This for the AGCC to save face one way or the other?


AGCC??? LololololololololoLoloLolololololol!!!!!!!!

Where's AGCC's statement admitting they were grossly negligent? Where's their statement assuring players on the sites of their other licensees that there's nothing to worry about because they stepped up their player protection measures? What a sham! Sham licening authority is going to hide in their little out of the way island where nobody can legitimately confront its members because nobody can even find the freaking place on a map. Somebody with a good boat and GPS should get over there and have a little conversation with the crooks that run the AGCC!
Seems like the AGCC needs a new acronym!
09-28-2011 , 06:10 PM
I find this bizarre, why would a investors buy FT, pay off US customers and the DOJ when they can't operate in the US market?

It'd make a lot more sense to buy the business and tell the DOJ and US customers to go f*ck themselves.
09-28-2011 , 06:11 PM
What has this little mom and pop island authority (loosly used term obv) done to deserve its UK Whitelisting and who do we go to to complain and have it removed?
09-28-2011 , 06:12 PM
Quote:
Originally Posted by Bilko111
I find this bizarre, why would a investors buy FT, pay off US customers and the DOJ when they can't operate in the US market?

It'd make a lot more sense to buy the business and tell the DOJ and US customers to go f*ck themselves.
So tilting when people who have no idea what they're talking about and haven't been following this situation at all try to add to their 0.02
09-28-2011 , 06:13 PM
Quote:
Originally Posted by EYESCREW
What has this little mom and pop island authority (loosly used term obv) done to deserve its UK Whitelisting and who do we go to to complain and have it removed?
I thought Hdemet said he was going to personally see to it that they lost their whitelisting. Wonder what ever happened with that...
09-28-2011 , 06:14 PM
Quote:
Originally Posted by Bilko111
I find this bizarre, why would a investors buy FT, pay off US customers and the DOJ when they can't operate in the US market?

It'd make a lot more sense to buy the business and tell the DOJ and US customers to go f*ck themselves.
Yeah! Tell the DOJ to go **** themselves! Oh wait! One lil problem. Without the DOJ's seal of approval FT's software will never see the interwebs again. Perhaps telling the DOJ to "go **** themselves" isn't such a good idea afterall?
09-28-2011 , 06:15 PM
Quote:
Originally Posted by jweez
So tilting when people who have no idea what they're talking about and haven't been following this situation at all try to add to their 0.02
Humour me and explain.
09-28-2011 , 06:16 PM
Quote:
Originally Posted by jweez
So tilting when people who have no idea what they're talking about and haven't been following this situation at all try to add to their 0.02
He may not have known what he was talking about but he got his dig in on the good ole' USA today so he'll be able to sleep comfortably tonight.
09-28-2011 , 06:18 PM
Full Tilt Poker is worth less than $ 0.00

why would someone with real money want to buy it ?

i just hope someone goes to jail, and not just the butler and household staff
09-28-2011 , 06:18 PM
Doesn't matter.
09-28-2011 , 06:20 PM
Quote:
Originally Posted by highstakesfan
Full Tilt Poker is worth less than $ 0.00

why would someone with real money want to buy it ?

i just hope someone goes to jail, and not just the butler and household staff
Probably because its worth a couple 100 mill, idiot.
09-28-2011 , 06:21 PM
Quote:
Originally Posted by EYESCREW
He may not have known what he was talking about but he got his dig in on the good ole' USA today so he'll be able to sleep comfortably tonight.
I sleep very well most nights, try explaning to me how French Investers buying an Irish company, that's licensed in the Channel Islands has anything to do with the DOJ?

You move the assets to a new company and any fines for operating in the US market are related to the old owners.

And something a bit smarter than this would be appreciated.

Quote:
Without the DOJ's seal of approval FT's software will never see the interwebs again
09-28-2011 , 06:22 PM
Quote:
Originally Posted by tobbe
Probably because its worth a couple 100 mill, idiot.
Silly answer in response to your silly post. Full tilt is going to cost a buyer $400mm or so + a doj fine. More than a couple 100 mill, idiot.
09-28-2011 , 06:23 PM
I think we need to compile an online get-you-up-to-speed-on-the-FTP-situation course. Make this course mandatory for all visitors, then in order to post in this thread you have to pass an exam proving you know the details of the most current situation.
09-28-2011 , 06:24 PM
Quote:
Originally Posted by EYESCREW
Why on earth would a new investor have to spend a week in conference or negotiations with the AGCC?
Originally there was a one or two day hearing scheduled to determine if FT's gaming license should be permanently revoked. This was a week and a half ago. Since then this new "investor" has supposedly been in negotiations with the AGCC and a hearing with the DOJ is set for this upcoming Monday? Is it possible the hearing with the AGCC has ended days ago and they don't want to say anything pending the outcome of negotiations with the DOJ? If those negotiations don't go well FT's license is permanently revoked and if they do go well then magically the suspension is lifted? This for the AGCC to save face one way or the other?


AGCC??? LololololololololoLoloLolololololol!!!!!!!!

Where's AGCC's statement admitting they were grossly negligent? Where's their statement assuring players on the sites of their other licensees that there's nothing to worry about because they stepped up their player protection measures? What a sham! Sham licensing authority is going to hide in their little out of the way island where nobody can legitimately confront its members because nobody can even find the freaking place on a map. Somebody with a good boat and GPS should get over there and have a little conversation with the crooks that run the AGCC!

The way it is playing out makes very little sense and its hard to understand whether to perceive it as good or bad news. They were supposed to be done meeting with them days ago. They were supposed to make a statement.

One of the most pathetic things that has occurred post 4/15 is the amount of times either FTP or the agcc or whoever has blatantly pledged to do something rather simple only to go against their word.

Look, I can understand why FTP would pledge to pay back players post 6/29 but then not pull it off if it ends up impossible. But when people make claims like "we'll release a statement Monday" there is basically no reason not to say something on Monday. If you can't say anything too in depth, fine, give a brush over statement that says you need more time to formulate the detailed statement but FFS don't just go against your word.
09-28-2011 , 06:24 PM
Quote:
Originally Posted by highstakesfan
I just hope someone goes to jail, and not just the butler and household staff
The longer this goes on the more I want to see FT board members in prison also. To this point I've always felt that as long as they give back as much of their ill-gotten gains as possible I can cut them some slack but these guys don't want to give any of it back.

The gig is up guys! You've been had. Give the loot back or go live on some secluded island with no extradition treaty hoping and praying that noise you hear in the middle of the night isn't some crazy guy who's bankroll you stole looking to exact revenge.

Oh boy I better get off my high horse. I know deep down the Full Tilt guys are good people. I just keep waiting for them to prove it.
09-28-2011 , 06:27 PM
Quote:
Originally Posted by Bilko111
I sleep very well most nights, try explaning to me how French Investers buying an Irish company, that's licensed in the Channel Islands has anything to do with the DOJ?

You move the assets to a new company and any fines for operating in the US market are related to the old owners.

And something a bit smarter than this would be appreciated.
The DOJ has seizure over their ass(ets), any deal has to go through them.
09-28-2011 , 06:27 PM
Quote:
Originally Posted by Bilko111
I find this bizarre, why would a investors buy FT, pay off US customers and the DOJ when they can't operate in the US market?

It'd make a lot more sense to buy the business and tell the DOJ and US customers to go f*ck themselves.
I can't understand why it would make sense for an investor to buy the business or its assets. Its goodwill is in the toilet, the customer base has moved on to other sites or can't play (US customers) and the programming is not very valuable and can easily be replicated by third world programmers at minimal cost.

If the US legalized online poker it would make the assets more valuable but whether it would be worth the cost of the probable requirement of making the player accounts whole is very questionable.


Online poker is a low cap business that can easily be entered. While the capital requirements to start up an online poker operation might seem like a lot to most people, compared to the cost of entering most industries, it is minimal. Why would someone want to buy trouble?
09-28-2011 , 06:27 PM
Quote:
Originally Posted by highstakesfan
Full Tilt Poker is worth less than $ 0.00

why would someone with real money want to buy it ?

i just hope someone goes to jail, and not just the butler and household staff
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