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Full Tilt Poker to be sold

Tags: full tilt poker, phil ivey, pocket kings, sold.
Posted on 01 July 2011 by "T".

According to an article in The Los Angeles Times, Full Tilt is about to be bought by a group of European investors, which means that U.S. players would be paid the roughly $150,000,000 million owed to them. In the article, which was published yesterday, reporter Nathaniel Popper says:

"Attorneys associated with Full Tilt said the company signed an agreement Thursday with a group of investors who would put up enough money to pay back players and in doing so attain a majority stake in Full Tilt's Irish parent company, Pocket Kings."

Popper also says that Phil Ivey, who sat out the 2011 WSOP in protest against that FTP didn't pay their US players since Black Friday, is about to withdraw his lawsuit against Tiltware LLC and quotes Ivey's attorney, David Chesnoff, as saying:

"Mr. Ivey intends to dismiss his lawsuit as he believes Full Tilt is taking steps to see that the players are paid."

 


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31 comments on "Full Tilt Poker to be sold"

Displaying only the 25 latest comments. To view all comments, please visit the forum thread:
» Full Tilt Poker to be sold


 holtland01/07/2011 17:09:50 GMT
Thanks
 Davoodoo01/07/2011 17:13:44 GMT
"$150,000,000 million" is alot of money ...
 B1gfoot01/07/2011 17:20:07 GMT
Posted by Davoodoo:
"$150,000,000 million" is alot of money ...

Was thinking the same thing...thats like 150,000,000,000,000 Shock
150 Trillion...the 3 billi0on is chump change now.
 Macubaas01/07/2011 17:55:27 GMT
This is actually the only good news about full tilt poker issued lately, if there will be a new leadership it's the only way to get out of this situation and of course pay their players balance Thumbs Up

They can nolonger continue with their current invstors and ceos, something must be chaged, and i tell you what, if the new investors will keep the games, i mean like rush and multi entry tournaments and will invest some money in some promo and special offers i will consider playing again on full tilt Smile

Plus they also must make a deal with moneybookers to be able to deposit/withdraw via moneybookers. And yeah, maybe they make some changes in the software to get less bad beats Evil
 TheFarSeer01/07/2011 19:18:58 GMT
Does anyone really believe that with all this money they would buy FT ? It would be much easier to promote a smaller and cheaper poker house, with big freerolls and promotions with 5% of that value.
 edyholdem01/07/2011 19:48:23 GMT
where is the money they have to pay to players?
 lukasb01/07/2011 20:32:31 GMT
Right... so just the other day they where in deep **** and today some goody gooders from europe will buy whats left of their reputation ( 0%) and pay all the debt to american players out of... good will Confused and this was written in an american newspaper....riiiiiiiiiiiigth Evil
 SuperNoob02/07/2011 06:02:31 GMT
finally some hope for players to get their money back, might turn out to be a risky investment if their license status is not sorted out but lets see how it turns out for them.
 ArcticBear02/07/2011 09:12:32 GMT
who cares?
 gooch04/07/2011 00:57:10 GMT
it will pay them to pay the debt. it will take a few yrs to get as many players on a site like fulltilt. over 70,000players on average. think about it. pay the debt keep site open. alll i can say is that all outomated services like a bandit or online gambling is fixed . always as bin always will be. you only get a real game in a casino or with your mates.
 MIGO1404/07/2011 08:23:57 GMT
Well I guess there still has to be a lot of money somewhere within this company.
So its not just buying the software and the name without any value.
The big problem will be to convince players to play there again and not to withdraw their money.
 ImRincewind04/07/2011 14:55:10 GMT
Like someone say before... too good to be true... Who will be so stupid to invest so much on that thing, it's the best software but the worst reputation, nobody will stay there... I don't think somebody wants to lose that much amount of money...
 Macubaas04/07/2011 18:21:28 GMT
Some of you are right indeed, i mean they need to pay all the money they own to the american poker players, plus some fees that us will force tem to pay after the black friday, and i presume the money of all non us players are still there, at least this is what i think Thumbs Down

If you sum that up i think we are talking about some ridicoulous amounts of money, well over 200 millions dollars, and for this kind of money you can basically create a very performant poker platform and invest some millions of Dollar Dollar Dollar in online and tv pub you are making a super poker platform from scratch Smile

We'll see what will be the conclusion of this tensioned situation, my only hope is that i will get back my couple of hundreds of dollars i had in my full tilt poker account, but i would defiantely miss rush poker and multi entry tournamesnt Sad
 andy552104/07/2011 23:04:14 GMT
Well i use to play on full tilt poker and use to enjoy it quite alot, i was even gonna promote it using fliers but im glad i didnt and im very happy that they have been caught out and hope that whoever buys it will make better use of it.
 ImRincewind04/07/2011 23:53:14 GMT
Posted by Macubaas:
If you sum that up i think we are talking about some ridicoulous amounts of money, well over 200 millions dollars, and for this kind of money you can basically create a very performant poker platform and invest some millions of Dollar Dollar Dollar

It says $150,000,000 million, not $150 million... It's a big difference, I guess that's why won't open again...
 MIGO1405/07/2011 12:01:58 GMT
Posted by ImRincewind:
Posted by Macubaas:
If you sum that up i think we are talking about some ridicoulous amounts of money, well over 200 millions dollars, and for this kind of money you can basically create a very performant poker platform and invest some millions of Dollar Dollar Dollar

It says $150,000,000 million, not $150 million... It's a big difference, I guess that's why won't open again...


Sorry, but I don´t get the difference you are trying to point out here.
Do you mean with 150,000,000 million a number of 150,000,000,000,000 ???
Or what difference you are talking about with the sums ?
 Davoodoo05/07/2011 15:02:27 GMT
Posted by ImRincewind:
Posted by Macubaas:
If you sum that up i think we are talking about some ridicoulous amounts of money, well over 200 millions dollars, and for this kind of money you can basically create a very performant poker platform and invest some millions of Dollar Dollar Dollar

It says $150,000,000 million, not $150 million... It's a big difference, I guess that's why won't open again...


I can assure you its a spelling mistake ... theu DONT owe 150 000 000 000 000 $ Tongue Hope you were joking ...

The right sum is 150 million $
 vip7vip7vip05/07/2011 16:46:53 GMT
iti is logik what is happening becauuse the us player are not allowd to play sow they are moving the center to europe Blink
 dusicahetzel23/07/2011 22:57:21 GMT
is there some news what is now happening with FullTilt?
 TheMachineQC25/07/2011 18:04:43 GMT
Anyone knows what will happen to the full tilt pro team?

Will they switch to another site or do they have to honor their contracts?
 vip7vip7vip25/07/2011 21:55:49 GMT
when they will open it? i can expect them i love fulltilt Heart Heart Heart Heart Heart Heart Heart . i hope they will be like in past
 Mober26/07/2011 13:03:58 GMT
Still nothing. No news no updates. I tried logging in (thought to give it a go lol) but of course it didnt work.
And the have the same old not in their site about system update.
It would have taken less time to update a defence system lol.
Why dont they put up the real reason?
 dusicahetzel27/07/2011 10:03:52 GMT
yestrday was hearing at court. But everything is delayed until 15 septembar. The hearing start in 10:00 AM and finished aboute 05:00 PM. But nothing esppecialy didnt happen, just one more delay... All of ass waiting, and waiting and waiting. Seems that we can only do that, to wait and hopping..
 Davoodoo27/07/2011 13:55:40 GMT
They are legally holding onto 150 million $ and people thing they will let those money go away just like that (giwing it back to the players) ?? ... think again
 Macubaas27/07/2011 15:00:12 GMT
Of course, yesterday when i got home i opened the poker blogs and forums to see what was the conclusion and what happend but for me personally if was very dissapointing....

Basically nothing happend and everything was delayed to 15 september which really sucks, i mean i can no longer play on full tilt poker this summer Sad

Worst i can't recover the money i had on the full tilt poker account either, thanks god i was inspired enough to withdraw more than 70% of the br after black friday Smile

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