BREAKING: DOJ and GBT Ink Their Deal, FTP/GBT Next in the Queue

November 17, 2011 - 7:57 PM EDT
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BREAKING: DOJ and GBT Ink Their Deal, FTP/GBT Next in the Queue

Following the longest two and a half weeks for online poker players since Black Friday, Subject: Poker can confirm that the US Attorney's Office for the Southern District of New York, and Group Bernard Tapie have signed their letter agreement, allowing for the acquisition of the assets of Full Tilt Poker by GBT once FTP have inked their side of the agreement. Mr. Behn Dayanim, the Washington, D.C. attorney for GBT in this matter, offered the following statement to Subject: Poker: We have an executed letter agreement with the Department of Justice that would allow GBT to purchase the Full Tilt assets from the United States. This is the first step in a process that will require agreement of the Full Tilt companies to the forfeiture of those assets and execution of a definitive...

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FTP Issues Statement Re: GBT/DOJ Agreement

November 17, 2011 - 7:57 PM EDT
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FTP Issues Statement Re: GBT/DOJ Agreement

Full Tilt gave Subject: Poker the following statement earlier today: Full Tilt Poker is pleased that the terms of the agreement between Groupe Bernard Tapie (GBT) and the Department of Justice have been finalized, and that the agreement provides forGBT to repay or make whole players outside of the United States and provides a mechanism for U.S. players to get repaid.Since Black Friday, repaying customers has been FTP’s number one priority. Ray Bitar, co-Founder and CEO...

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BREAKING: GBT and DOJ Strike Deal, FTP Sale Pending

November 1, 2011 - 2:26 PM EDT
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BREAKING: GBT and DOJ Strike Deal, FTP Sale Pending

After weeks of waiting, Subject: Poker can confirm that Groupe Bernard Tapie and the US Department of Justice have come to terms that allow GBT's acquisition of Full Tilt Poker to continue. If FTP's current shareholders agree to acquisition of their company, this deal with the DOJ will provide for payment of all players worldwide. Multiple sources have confirmed to S:P that the following email went out this morning to Tiltware shareholders from Ray Bitar: Dear...

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AGCC Falsely Reported $331M, Real Number $159M

October 20, 2011 - 10:22 AM EDT
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Alderney Coat of Arms

The Alderney Gambling Control Commission's report that the US Department of Justice had seized $331 million from Full Tilt Poker over almost four years is false. Subject: Poker believes that the real number is about $159 million. Approximately $35-$45 million was seized from FTP on April 15th. Following ten days of hearings and deliberation,...

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Merge to Accept New US Players Tomorrow

October 12, 2011 - 5:38 PM EDT
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Merge to Accept New US Players Tomorrow

The Merge Gaming Network has quietly announced plans to start taking new US player sign-ups tomorrow at 12:01 AM EDT. Some Merge skins have contacted affiliates with the news, and some have responded to players' inquiries to confirm. Merge, currently the second largest poker network that serves US players according to PokerScout.com, stopped accepting new US sign-ups over four months ago. Multiple sources close to the situation said at the time that the measure was a...

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Full Tilt Buyer Seeks to Preserve Assets

October 6, 2011 - 2:15 PM EDT
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Full Tilt Buyer Seeks to Preserve Assets

Sources close to Full Tilt tell Subject: Poker that the acquisition agreement between Groupe Bernard Tapie (GBT) and Full Tilt contains a clause requiring that an outside independent entity be appointed to protect the current and future assets of the poker site pending its final sale. GBT intends to appoint a chief restructuring officer (CRO) who will, in effect, replace the current board of directors of Full Tilt Poker. Among the responsibilities of this newly...

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FTP Acquisition Agreement, Fact vs Fiction

October 4, 2011 - 8:18 PM EDT
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FTP Acquisition Agreement, Fact vs Fiction

Correction posted 10/5/2011 8:06 PM EST. In light of some widespread rumors that are running rampant across the internet regarding the acquisition agreement between Groupe Bernard Tapie (GBT) and Full Tilt Poker, Subject: Poker has contacted several of our sources to get clarity. There is indeed a tentative agreement to purchase Full Tilt Poker that's been signed by all parties. As is to be expected, it's a provisional agreement, where certain contingencies must be met. The agreement...

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