Subject: Poker: GBT and DOJ Strike Deal, FTP Sale Pending - Page 5 - Poker News

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

Subject: Poker: GBT and DOJ Strike Deal, FTP Sale Pending

Closed Subscribe

...

Page 5 of 43

First

1 2 3 4 5 6 7 8 9 10 15 25

Last

Page 5 of 43

First

1 2 3 4 5 6 7 8 9 10 15 25

Last

11-01-2011 , 03:13 PM

#101

ICUScoobyDoo

grinder

Join Date: Oct 2011 Posts: 442

I kind of doubt I will ever see my money from the bounced check the day after black Friday though. But still this is good news.

11-01-2011 , 03:13 PM

#102

ungar2000

adept

Join Date: Dec 2006 Posts: 874

where is kevmode???

11-01-2011 , 03:13 PM

#103

JohnFR

veteran

Join Date: Feb 2005 Posts: 3,365

Quote:

Originally Posted by ZBTHorton

The thing is, I don't think Tapie is going to be able to open the site until the players are paid out, and I doubt he's just going to sit on his ass for 18 months waiting for them to payout.

I would think things would move fairly quickly(for the DOJ anyway).

(no inside information went into this post)

I am curious what benefits letting the DOJ handle cashouts has for GBT, because of the agreement in place that full tilt has with the DOJ they are allowed to handle the cashout of American players, therefore it shouldn't be that expensive to handle US cashouts by themselves, also I wonder what the benefits for the DOJ are, they let PokerStars handle the cashouts on their own.

LOL it's pretty funny I can't see the benefits from either side. Maybe I am blind.

11-01-2011 , 03:13 PM

#104

NoahSD

Is Right

Join Date: Aug 2005 Posts: 18,843

Quote:

Originally Posted by thepizzlefosho

Do you think that US players will be repaid in full? or are we going to have to settle for some cents on the dollar based on available frozen or seized funds?

I haven't heard anyone talk about cents on the dollar.

11-01-2011 , 03:14 PM

#105

TheJacob

Pooh-Bah

Join Date: Jul 2007 Posts: 3,865

What about our FTPs?
Kidding.

Anyone else feel like even if this goes down the guys running FTP still owe us money?

They stole from us and made us wait 9+ months to get repaid(if we do).
Even If I get paid as far as I'm concerned these guys still owe me money.

I'm slightly concerned about the DOJ handling this, but its not like we were dealing with pokerstars in the first place. Dealing with FTP is clearly worse at this point.

11-01-2011 , 03:14 PM

#106

Go Get It

Carpal \'Tunnel

Join Date: Feb 2010 Posts: 12,530

Based on what is in the article, how the hell did GBT get the DOJ to agree to pay US players back and settle with what seems like the money the DOJ already had? Amazing laywering?

11-01-2011 , 03:15 PM

#107

ZBTHorton

Carpal \'Tunnel

Join Date: Oct 2004 Posts: 19,874

Quote:

Originally Posted by Go Get It

Based on what is in the article, how the hell did GBT get the DOJ to agree to pay US players back and settle with what seems like the money the DOJ already had? Amazing laywering?

The DOJ is paying us with Tapie's money.

11-01-2011 , 03:16 PM

#108

ZephyrSpy

old hand

Join Date: Nov 2009 Posts: 1,286

Quote:

Originally Posted by Go Get It

Based on what is in the article, how the hell did GBT get the DOJ to agree to pay US players back and settle with what seems like the money the DOJ already had? Amazing laywering?

He obv agreed to ship Bitar to them.

11-01-2011 , 03:16 PM

#109

thepizzlefosho

Carpal \'Tunnel

Join Date: Mar 2007 Posts: 6,206

Quote:

Originally Posted by NoahSD

I haven't heard anyone talk about cents on the dollar.

tyvm for the quick answer. I guess I've become quite a bit suspicious about good news anymore. I'll probably pop champagne when I hear that they have the cash on hand to repay balances in full. Don't mind the wait as long as I know it's coming.

11-01-2011 , 03:16 PM

#110

robkey69

journeyman

Join Date: Sep 2011 Posts: 315

Quote:

Originally Posted by ZBTHorton

The DOJ is paying us with Tapie's money.

i didn't read that

11-01-2011 , 03:17 PM

#111

PostflopNoob

journeyman

Join Date: Aug 2009 Posts: 321

Repost:

Guys, but like really, are those super good news?

Technically, the deal is almost 100% to occur, right?

I mean.. What can go wrong now?

Ty

11-01-2011 , 03:17 PM

#112

Kirbynator

Carpal \'Tunnel

Join Date: Aug 2006 Posts: 52,004

Are you sure about that? Sounds like they're letting tapie pay ROW and are giving back to the US themselves

11-01-2011 , 03:17 PM

#113

sbfoosball

journeyman

Join Date: Mar 2008 Posts: 371

obviously time to get greedy. Will we get the monetary value of our full tilt points???

11-01-2011 , 03:18 PM

#114

wagamama

journeyman

Join Date: Jan 2011 Posts: 362

Will Lederer still be on Team Pro?

11-01-2011 , 03:18 PM

#115

aggo

Carpal \'Tunnel

Join Date: Feb 2008 Posts: 10,422

If the doj handles US cashouts, lol to those of yoy who haven't paid any taxes on your winnings. Ur screwed.

11-01-2011 , 03:18 PM

#116

Go Get It

Carpal \'Tunnel

Join Date: Feb 2010 Posts: 12,530

Quote:

Originally Posted by ZBTHorton

The DOJ is paying us with Tapie's money.

From the Article:

Quote:

My understanding is the deal provides that in exchange for an agreed upon payment by GBT, and a GBT commitment to assume responsibility for payment of ROW players, DoJ will reimburse US players and settle the outstanding civil litigation with the companies comprising FTP.

You really think GBT is going to pay out $150M for the US plus the ROW for about $150M and then what ever the settlement of the $1B civil suit was? I read "DoJ will reimburse US players" as the DOJ will do it from money they already have.

11-01-2011 , 03:18 PM

#117

ZBTHorton

Carpal \'Tunnel

Join Date: Oct 2004 Posts: 19,874

Quote:

Originally Posted by robkey69

i didn't read that

Ray can't write coherent e-mails, go figure.

11-01-2011 , 03:19 PM

#118

ZBTHorton

Carpal \'Tunnel

Join Date: Oct 2004 Posts: 19,874

Quote:

Originally Posted by Go Get It

From the Article:

You really think GBT is going to pay out $150M for the US plus the ROW for about $150M and then what ever the settlement of the $1B civil suit was? I read "DoJ will reimburse US players" as the DOJ will do it from money they already have.

Ray can't write sentences.

GBT is paying the DOJ, and the DOJ is handling the payouts. The DOJ doesn't have enough money to pay us out.

11-01-2011 , 03:19 PM

#119

chinamaniac

Pooh-Bah

Join Date: Nov 2009 Posts: 3,720

Big thanks to Noah on this and can't thank this guy enough below

11-01-2011 , 03:20 PM

#120

LT22

Carpal \'Tunnel

Join Date: Aug 2007 Posts: 12,841

Quote:

Originally Posted by Kirbynator

Are you sure about that? Sounds like they're letting tapie pay ROW and are giving back to the US themselves

Tapie is def paying ROW based on the email from Bitar

The email also says Tapie will pay an agreed upon amount (to the DOJ) and this will settle the US player repayment/civil cases

11-01-2011 , 03:20 PM

#121

JohnFR

veteran

Join Date: Feb 2005 Posts: 3,365

Quote:

Originally Posted by Go Get It

Or they will take the money from the fine and use it to pay us?

11-01-2011 , 03:20 PM

#122

ZBTHorton

Carpal \'Tunnel

Join Date: Oct 2004 Posts: 19,874

Quote:

Originally Posted by Kirbynator

Are you sure about that? Sounds like they're letting tapie pay ROW and are giving back to the US themselves

Positive.

11-01-2011 , 03:20 PM

#123

pokerfish_

banned

Join Date: Oct 2011 Posts: 307

Quote:

Originally Posted by sbfoosball

obviously time to get greedy. Will we get the monetary value of our full tilt points???

I heard you can convert them to play money.

11-01-2011 , 03:20 PM

#124

mjcace

Carpal \'Tunnel

Join Date: Jan 2008 Posts: 9,938

Quote:

Originally Posted by Asgrow13

Big thank you to Noah, Diamond Flush and the rest of subject

oker. Really awesome work keeping everyone up to date.

+1,

hopefully the deal gets finalized soon.

11-01-2011 , 03:20 PM

#125

AvoidMe?

journeyman

Join Date: Sep 2011 Posts: 350

I understood the article the way that DOJ will pay US players with seized money.

DF, Noah: Confirm?

Page 5 of 43

First

1 2 3 4 5 6 7 8 9 10 15 25

Last

Closed Thread Subscribe

...

Page 5 of 43

First

1 2 3 4 5 6 7 8 9 10 15 25

Last