Please Correct me if I am wrong
But according to Annie Duke (well she's been talking about it a lot) and Ultimate Bet the cheating started before the new owners bought UB in October 2006 so its not their fault, and the new and sol owner is Joe Norton and Tokwiro enterprises, and the reason they did not find or know that any cheating was going on before and after the so called new ownership is because they are all a bunch of idiots.
So why can I not find any mention of Tokwiro buying Ultimate Bet anywhere except on the Ultimate Bet site, everywhere else says it was Blast Off Limited that bought UB in 2006 , and as far as I can work out Blast Off Ltd was/is owned by Russ Hamilton and as far as I can see Russ Hamilton owned UB before the sale, is this correct, so Russ Hamilton sold UB to Russ Hamilton
Below is a copy/past from
http://www.pokernews.com/news/2006/1...psa-bought.htm
October 15, 2006
Amy Calistri
Just one day before US President Bush signed the Unlawful Internet
Gambling Enforcement Act into law, Excapsa Software sold its entire operation to Blast Off Ltd, a privately owned Maltese company, for a reported $130 million. Excapsa, parent company of Ultimate Bet.com, was one of the last publicly traded online gaming companies to divest itself of its US operations prior to the signing of the law. Blast Off Ltd. operates Online Elimination Blackjack ™ and was associated with Excapsa via the Ultimate Blackjack Tour, the brainchild of former WSOP Champion and Team UltimateBet member Russ Hamilton.
Many had been puzzled by UltimateBet's recent affirmation that they would continue to support US online customers, wondering how Excapsa would traverse the regulatory terrain as a public company. The mystery is now solved. UtlimateBet will continue to service US customers, but under its new private enterprise.
Below is a copy/past from
http://www.casinoaffiliateprograms.c...ER-NETWORK.php
According to the Devilfish IPO prospectus, in October 2006 Excapsa Software Inc. announced the purchase of its online gaming business through a sale of the shares of its Maltese wholly-owned subsidiaries, Excapsa Services Inc. and Game Theory Holdings Limited to a privately owned Malta-licensed company called Blast Off Limited. Blast Off was a previous licensee on the Excapsa network.
It is understand that consideration for the Excapsa acquisition payable by Blast Off was US$ 130 million of which US$ 10 million was to be made by way of initial payment in the form of cash and promissory note, and the remaining US$ 120 million was to be paid by way of deferred consideration over the following five and a half years, with monthly instalments of US$ 1 million during the first year and US$ 2 million per month thereafter.