You're not funny. At all.

But we get your point.

One of the guests on this weeks PokerCast is discussing the FTP situation for anyone interested.

Short version of the current sale situation: He doesn't believe it will happen because it would take too long 8-10 years to actually make a significant return on investment. He also said the rumor that the board refused an early deal that would have injected FTP with capital and ensured the repayment of US players was true.

Take that for what it's worth. Everyone should probably listen to the interview themselves.

this...you put way much effort into that for it to not be funny

Who is this guest? FWIW Ifrah said many times that there was absolutely never a deal on the table that was refused by the board.

Whoever it is, he's with 99% certainty FOS.

It's either Steve "Chops" Preiss or Andrew "BalugaWhale" Seidman. I can't remember from the introduction (I'm listening right now and they are still doing the first interview).

Edit: It's Steve Preiss. And I'm making no comments or opinion as to how valuable or accurate the information is, I'm just letting everyone know so they can listen and discuss.

Not to shoot it down w/o listening, but unless this person has inside information to know the terms being discussed in negotiation (which i am guessing he doesn't), then his opinion is 100% worthless and the fact that he offers it up discredits him in my personal opinion.

Obviously GBT is not interested in negotiating himself a bad deal. He clearly thinks a good deal is possible. We don't know if it will happen or not, but it is annoying to have people spewing in interviews about how they do or don't think it is a good deal with such minimal info.

FWIW he's basing the opinion on the knowledge of how much PS and FTP were making in 2010 and how much an investor would likely have to pay to buy FTP, and basically doing basic math from there (if you pay X and make Y per year, it will take you Z years to recoop your investment).

Again, I'm just letting everyone know about the interview. I hope he's wrong.

I really hope that this isn't true about FT not accepting a plan that would get the players paid back! However it wouldn't suprise me one bit and I would be inclined to believe anyone outside of the FT camp more than anyone in it for obvious reasons at this point! These guys just keep looking worse everyday!

Oh yeah, only making an ROI after 8-10 years on an acquired company, sounds terrible

FOS & not worth discussing probably .

I think we can all agree FTP was run terribly and whatever it was making before the **** started flying can be improved.

It is not public what FTP made in 2010 so he isn't informed. Not all money flowed through Pocket Kings, and if I recall correctly, Noah made it pretty clear we, the public, have no idea the real financials in 2010.

unless he's making his calclulations on numbers we havent heard before, i doubt this is anything new that hasnt been gone over a hundred times in this thread...we've had ppl arguing over how profitable it will/won't be ITT for months now

Yup, I tried to do something like this math based on what Party is worth before the news of the current investors identity became public. I came out that its a terrible deal if the DOJ doesnt pay back players with seized funds and potentially a good deal if the DOJ does pay players with seized funds.

Ive seen nothing that's changed my opinion, this deal will get done if the DOJ plays ball with all, or close to all, of the seized $, it wont if they dont. I dont think they will, so I think this falls through.

I don't think it's so much a case of FTP being able to MAKE more, but if what they made was spent more appropriately (and that wouldn't be hard given how much they seem to have spent on salaries, bonuses, dividends, advertisement, and player loans) then yes, that would be a significant improvement.

FTP made money hand over fist; they then spent all that money like a drunken sailor on a 48 hour pass. The only reason they became insolvent is because of their mismanagement; if they had saved and/or invested a reasonable share of their profits, they probably would have been able to weather the withdrawal from the US market and would still be open to the ROW right now.

I know for a fact that FTP did turn down a deal early that would have gotten everyone paid but they were holding out for more $$$

And I believe that will continue to be a problem and will be the major factor in not getting the players paid sooner rather than later.

Bottom line from my point of view- the longer this drags on and they are not running the more the company deteriorates and the less likely we get paid in full. And it seems that the Board could give a **** when we get paid. Seems they feel the need to get the right deal financially for themselves while there are many players suffering which is why I hope every last one of them do some hard Federal time and get everything they have frozen.

Hopefully when the dust settles John Juanda is stuck getting staked for $200 Mtts on Merge and the rest of the posse- Ivey, Ferguson, Lederer and Furst get hard time and anything in their names is frozen by the feds. Hopefully they left a nice paper trail of where all of their hidden money is as well so that gets taken too.

Pretty sad when your hopefull punishment for him, would be something I would jump up and click my heels if I got.

I haven't listened to this yet, I will, but this defys logic imo. It seems to be the only thing that is standing in the way of the sale is the DOJ negotiations, right?

If that's true, assuming the DOJ was out of it the sale would have gone through already. And saying 8-10 years to get return based on 2010 numbers is devoid of adding casino games to FTP, giving EQ to players, association with their stadium poker tour, ect.

Will the deal go through, who knows, is it because of worry about ROI, all evidence would point to no at this time.

Didn't Ifrah unequivocally state that there was no deal that was turned down that guaranteed player pay back?

If he stated that then he is a liar

If that's the case, prove it.

Ok I took a cursory look at Ifrah's post history and he says that he is unaware of any deal that would've paid players back that ftp passed up on.... still looking.

Firstly, longtime lurker, first time poster. If you don't believe the tweet below however, please see Scott's twitter.


awray33
SizzleChest33 awray33
@ScottMatusow You feeding a guy named ChinaManiac(2+2) info? He's currently posting in the FT containment thread like he's your liaison.
20 minutes ago
in reply to ↑
Scott Matusow
@ScottMatusow Scott Matusow
re.@SizzleChest33 i have no idea who that is.. do not listen to anyone on 2+2. its mostly trolls.. not a great place for info
4 minutes ago via web Favorite Retweet Reply

ok check PMS

for the 1% that didnt already know chinamaniac was a troll...