Last week the breaking news that Groupe Bernard Tapie (a French group of investors) and Full Tilt Poker signed an acquisition hit the poker world. The new owners said that they intend to pay back all players money as soon as possible. Yesterday, one could read in the Wall Street Journal that Full Tilt's new owners are looking at the possibilities to offer ownership shares in the company to pay off[...] Read more » Full Tilt's new owners to offer equity to pay off debt
Joined: Apr '09
Location: Portugal
Age: 44 (M)
Posts: 4827
It will not be easy to clean FT image and reconquer the liability of all the players. In one side, paying them is showing they are serious owners, but who can guarantee this players that something like what has happened, wont happen again? They are serious and they are paying, but FT is a billion dollar company, mada to make fortunes for users and for owners.
I don't want to be reconquered ... I don't want their trustness ... I don't want the owners will continue in FullTilt ... I just only want my money back!!!!!
Joined: Apr '11
Location: Romania
Age: 35 (M)
Posts: 6669
It's really hard to pay all players back if you are looking from the new owners point of view...
First they need to open to site and i think a good call wuld be to disable cash withdrawals, this way players can play poker and generate rake for the company and after couple of months to enable all cash withdrawals.
Joined: Jul '11
Location: Brazil
Age: 39 (M)
Posts: 130
I think full tilt is a good way to play poker with safe. It is a shame that all this happened. The circunstances that all money do is sad. However let bet to see. Viva.
Joined: May '09
Location: India
Age: 37 (M)
Posts: 4873
think many players will take up this offer as it will be tough to get their money otherwise and will improve financial state of the site, but it also shows new owners are scared to risk their own money in this.
Joined: Feb '11
Location: Ireland
Age: 51 (M)
Posts: 476
even though full tilt may be under new ownership they will find it extremly difficult to win back the trust of the players,people have long memories and will be scared to deposit there in case it might fold again
Posted by Macubaas: It's really hard to pay all players back if you are looking from the new owners point of view...
First they need to open to site and i think a good call wuld be to disable cash withdrawals, this way players can play poker and generate rake for the company and after couple of months to enable all cash withdrawals.
We'll see what will happen...
And who, pray tell is going to deposit money into a site that you know damn well can't afford to pay you back if you win enough to cashout with ?
I've heard some dumb suggestions in my time, but seriously, this one is a belter..
Joined: Mar '09
Location: Canada
Age: 36 (M)
Posts: 3207
Posted by fcumred:
Posted by Macubaas: It's really hard to pay all players back if you are looking from the new owners point of view...
First they need to open to site and i think a good call wuld be to disable cash withdrawals, this way players can play poker and generate rake for the company and after couple of months to enable all cash withdrawals.
We'll see what will happen...
And who, pray tell is going to deposit money into a site that you know damn well can't afford to pay you back if you win enough to cashout with ?
I've heard some dumb suggestions in my time, but seriously, this one is a belter..
he is talkin in a business perspective. sounds like its one way to make money back for the site to pay off there customers. ur knocking his suggestion do u have a better one donald trump?
Joined: Mar '11
Location: Canada
Age: 44 (M)
Posts: 1490
This seems like it could be bittersweet for the customers with rolls on the site, especially if they are substantial. Let's say theoretically this is the scenario:
Full tilt changes hands and does a clean sweep. New management etc.
They owe around $300million to the players. So basically they issue 1 stock for every $1 that they owe players. They then holde another $700 million in reserve shares, spread amongst the new buyers, and whoever else held stock prior to this whole b******t.
This means there's $1 billion in stocks, or 1 billion stocks total. Since Full tilt has been through hell and back, the stock won't be worth s**t at first. Say each stock is worth $.30. This implies that Full Tilts value is around 30%. This means out of the $300 million owed to the players, the total stocks held by the players would be valued around $60 million.
Seems like a raw deal for the players right? Well keep in mind, Full Tilt has brand recognition, and one of the most inovative styles of poker. Rush Poker. Under proper management, they will bounce back once they regain trust.
Over time, say a year or 2 down the road, if Full Tilt retains their previous billion a year in net profits, the stock values will soar. It's safe to say that if they returned to their previous status, they'd continue to grow. Especially with all the talk of government regulation, they'd be one of the most established rooms, and one of the most likely to endure the changes. Smaller rooms won't be around once uncle sam starts getting their fingers in the pie.
I'm no stock genius, but I think if they were to come back, the amount owed to the players could end up being worth a lot more down the road, in terms of stock. Sure it sucks that players won't get their money back in the short term, but I'd like to think of this like buying stocks of a failing business at basement prices, then sitting on them until the company gets big again.
Or they could come back and end up crashing and burning, and the players get fucked anyways. If that's the scenario, it's no worse than what we're currently looking at anyways
Posted by Macubaas: It's really hard to pay all players back if you are looking from the new owners point of view...
First they need to open to site and i think a good call wuld be to disable cash withdrawals, this way players can play poker and generate rake for the company and after couple of months to enable all cash withdrawals.
We'll see what will happen...
And who, pray tell is going to deposit money into a site that you know damn well can't afford to pay you back if you win enough to cashout with ?
I've heard some dumb suggestions in my time, but seriously, this one is a belter..
he is talkin in a business perspective. sounds like its one way to make money back for the site to pay off there customers. ur knocking his suggestion do u have a better one donald trump?
Yes, let it die, because no one with half an ounce of brain matter between their ears is going to deposit on the site now, and nor should they..
No one will ever trust this site again, and you cannot blame them
So is full tilt working again? I would need to reinstall the program!
I think they should've changed the name. But still I think some rush poker lovers will go back there, the program is good. Anyways we'll see how the traffic progresses, but for sure we don't trust jesus and howard as much as we used to!
Joined: Apr '09
Location: Australia
Age: 40 (M)
Posts: 6483
Posted by fcumred:
Posted by arsenej1:
Posted by fcumred:
Posted by Macubaas: It's really hard to pay all players back if you are looking from the new owners point of view...
First they need to open to site and i think a good call wuld be to disable cash withdrawals, this way players can play poker and generate rake for the company and after couple of months to enable all cash withdrawals.
We'll see what will happen...
And who, pray tell is going to deposit money into a site that you know damn well can't afford to pay you back if you win enough to cashout with ?
I've heard some dumb suggestions in my time, but seriously, this one is a belter..
he is talkin in a business perspective. sounds like its one way to make money back for the site to pay off there customers. ur knocking his suggestion do u have a better one donald trump?
Yes, let it die, because no one with half an ounce of brain matter between their ears is going to deposit on the site now, and nor should they..
No one will ever trust this site again, and you cannot blame them
and everyone loses their money. Great call genius.
Joined: Mar '08
Location: Australia
Age: 49 (M)
Posts: 1158
no one i there right mind will trust fulltilt again.if it happened once it will happen again.they dead in the water.people will play ther but will never deposit again.its a shame,but they scammed alot of people so they dont deserve a second chance.plenty of other sites.good ridence full tilt.RIP.
Joined: Jun '11
Location: Ireland
Age: 58 (M)
Posts: 7
UnBelieveable, All Player Great and Small got STITCHED UP, and you are talking about going back to FTP. As the saying goes, Fool me once shame on YOU, Fool me twice shame on ME.
