PokerStars Addresses Rumors of Full Tilt Poker BuyGroupe Bernard Tapie's Acquisition Attempts Have Failed |
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PokerStars responded Tuesday to rumors that it’s in talks to acquire defunct Full Tilt Poker.
Eric Hollreiser, head of corporate communications, said in a statement:
“We’ve had a lot of enquiries and there’s lots of speculation on the forums, so I wanted to address the PokerStars chatter. As you know, PokerStars is in settlement discussions with the U.S. Department of Justice. As such settlement discussions are always confidential, we are unable to comment on rumors. As soon as we have information to share publicly we will do so.”
At around 11 a.m. EST on Tuesday, Chilipoker CEO Alexandre Dreyfus Tweeted that PokerStars will purchase the former rival for $750 million and repay $330 million of beleaguered player funds, after failed attempts by Groupe Bernard Tapie to acquire the company.
Dreyfus could not be reached for further contact.
eGaming Review Magazine reported Tuesday that the French investment firm released a statement saying its deal with the U.S. government was marred with “unresolvable” legal issues.
GBT said: “[…] [W]e can only assume that PokerStars determined that it was willing to accept these legal and financial risks in order to resolve its own legal situation with DOJ. ”
The Department of Justice declined to comment Tuesday and told Card Player that it can’t provide confirmation.
The rumored price tag for Full Tilt Poker during the GBT negotiations was $80 million.
Attempts to obtain comment from Behn Dayanim, attorney for GBT, and Jeff Ifrah, attorney for indicted Full Tilt Poker CEO Ray Bitar, were also unsuccessful.
In September 2011, the U.S. government accused Full Tilt Poker and its principals of operating a Ponzi scheme by defrauding poker players out of $440 million. The civil case is still pending.
PokerStars also left the U.S. market in April 2011 after the Department of Justice indicted 11 individuals associated with offshore Internet gambling.
Stay tuned to Card Player for more information.
Follow Brian Pempus on Twitter — @brianpempus
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Comments
LisaJax
1 year ago
Dream on! Why would PokerStars pay $0.75BILLION for FTP's liabilities when they already have a near worldwide monopoly?
Get real guys, you've been duped again and it's not even April 1st!
Greg2
1 year ago
Well I'm paraphrasing Levithan74's post on 2p2 but basically:
1. They lower the settlement sum with the DOJ.
2. Better settlement terms. ie PS won't have any pending legislation against them if and when the US market is regulated.
3. Removal of the most threatening potential competitor in the market.
WPS22
1 year ago
Greg- Don't bother responding to Lisa. She's just a troll who is praying this deal doesn't happen because she doesn't want players to be paid.
I_P_Freely
1 year ago
Lisa is probably the most informed poster on Cardplayer and she has historically been correct 98.5% of the time.
WPS does not know, and has never known, what he is talking about.
You be the judge.
L2K4FC
1 year ago
If it secures re-entry into the US market it would be worth 100 times that amount. No brainer PS...let's go I'm bored.
bparmalee
1 year ago
Here is the monthly story about Full Tilt being bought out. It is like clock work. Greg what exactly is Full Tilt selling for 80 million? (Plus the 100+ million in player pay backs let's not forget about that) They do NOT have a player base. They are associated with fraud. Neither Poker Stars or Full Tilt will ever be allowed into the US market place once it opens. The DOJ can't cut them that deal because they won't be the ones issuing the license agreements. Full Tilt has nothing of value to offer anyone... so why would anyone ever buy them and resolve their issues? I have no clue why people seem to believe these rumors. Full Tilt is gone forever. It would be cheaper.. not to mention a better marketing strat to start a new online poker site than to deal with Full Tilts baggage. So set the clock for another month and another Full Tilt rumor. Next I guess the DOJ will be buying Full Tilt to install it in the prison system as a platform for prisoner trade/commerce. Price 80 million.
Greg2
1 year ago
I don't know how to make it any more clear than I already did. If PokerStars wanted to re-enter the US market, which they obviously do, they COULD resolve their issues with the DOJ, dissolve their only real competition, and take over FTPs 40-60k customer base, all with one move. I'm not saying that's what they WILL do, I'm saying that's what they COULD do.
But to answer your question, the $80 million price tag would be for FTPs software and network, which is arguably the best in the biz. And if the ONLY way Stars can re-enter the US market is to clean up FTPs mess, then they probably will.
LisaJax
1 year ago
You're right WPS22, I couldn't care less whether FTP pays you the $129 you have tied up on their sight. Read bparmalee's excelletn summation (above). FTP has 0.0 value, dude.
Greg2
1 year ago
Will all that being said though, I think there's a possibility this was a troll by GBT. They knew their deal with the DOJ was toast, so we'll troll PokerStars so they can't have it either...
clunker
1 year ago
Let look at this in a sane way. Rumor GBT is in talks with DOJ to buy FTP for $80 million Those talks fall through. New rumor PS is in talks with DOJ to buy FTP for $750 million + take on $330 million owed to defrauded FTP players. LOL if this is true I suggest the DOJ hold onto FTP for a couple more years they should be able to get enough to pay off the US national debt.
clunker
1 year ago
The article states that the rumor put out by chillpoker CEO Dreyfus is that PS will buy FTP for 750 million + repay the 330 Million owed to FTP players. The 80 million you people are quoting has nothing to with the supposed PS offer that was GBT's supposed offer. Greg2 to make it clear FTP is no longer a viable poker site they are not competition for my home game never mind PS. And PS can find a much cheaper way of getting into US market when it opens up then being associated with a fraudulent company like FTP. Why would they want that albatross hung on there name.
clunker
1 year ago
Also Greg2 even if PS wants to eventually get back into US market it will be the US gaming regulators who decide there fate not PS wishes as you seem to presume.
pokerbandit22
12 months ago
wil i do care.
i wont my money back.
and am hopeing to go back to playing on fulltilt as long as pokerstars dont mess andy thing up about fulltilt.
like useing there skins.
takeing away freerolls.
i nver liked poker stars cause of the look and feel
and ps not haveing any freerolls.
if fulltilt eas to reopen i would go back to playing there in a heart beat.
fulltilt dhould not have been closed down to beggain with.
they where not a Ponzi scheme.
and the gov. doj they have no right telling us what we can and cant do in our own homes on our own pc.
but thats just my opion on this mess.