October 01, 2011

Full Tilt purchase news, and Player Funds

It seems finally FullTilt’s owners are beginning to understand that any deal is better than no deal, althoughI would imagine they have been “encouraged” to reach this conclusion, not by their caring for the outstanding player funds that they have refused to give back, but by their lawyers advising them that it may help their case. Hence it looks like there finally is a buyer, through the French investor Groupe Bernard Tapie.

No matter what happens I believe a deal with someone will happen, sometime. The DoJ understands that a lot of its young citizens have money tied up there, and it doesn’t want to bite its nose to spite its face . So a compromise will be found for the $1 billion in restitution for alleged bank fraud. Sensible profit orientated investors will see beyond the current mire and will see the long term profitability of the assets. I believe everyone will see their money at some time.

Post Black Friday it’s clear online poker is a still a fatted goat, and I for one would not rush to take my money of the site once it is reinstated and the site back online. And neither should you if you want to keep playing poker online and you’re not from the States.


First I don’t see them ever making a similar disgusting error again as the eyes of the community will be on them (never mind the authorities), and second, the Rush Poker format which I would imagine the patent ownership will go as a condition of the sale, is, quite simply, worth hundreds of millions in revenues in its own right.

Personally I hope Ferguson, Lederer and Ivy go to jail. Deal or no deal. I really do. Their silence on the issue over the past 6 months (notwithstanding Ivey’s nonsense, see my previous post), whether being advised by lawyers or not, makes me sick. They took the money for many years. They part-owned the company. They traded whilst being insolvent. They stole from us.