http://www.pokerlistings.com Law &amp; Business en-us <p>Lawyers for the Atlantic Club claimed the organization was not aware of the extent of the criminal problems facing PokerStars founder Isai Scheinberg and other senior officials and PokerStars were facing after Black Friday.</p> <p><a target="_blank" href="http://blog.northjersey.com/meadowlandsmatters/5790/breaking-excerpts-from-the-atlantics-club-retort-to-pokerstars-lawsuit/">NorthJersey.com</a> released excerpts from the filing made by the Atlantic Club on Monday. One of the key passages:</p> <p>“This action involves a sophisticated party’s attempt to avoid the consequences of an unambiguous provision in a contract that it executed after extensive negotiations and with the advice of counsel. Plaintiffs agreed to a termination provision that included the surrender of advances and a termination payment as the cost of securing an opportunity to acquire the Atlantic Club.”</p> <p>Earlier this month <a target="_blank" href="http://www.pokerlistings.com/pokerstars-alleges-breach-in-contract-with-atlantic-club-62264">PokerStars alleged a breach in contract</a> with the Atlantic Club. PokerStars claimed it received no notice that the Casino planned to terminate their agreement despite the fact the site had already paid 2/3 of the purchase price in advance payments.</p> <p>PokerStars also claimed it had funded the struggling Atlantic Club’s shortfalls throughout the winter season, preventing bankruptcy and the loss of 1,800 jobs.</p> <p>According to yesterday’s filing the deposed Scheinberg, who was forced to step down from his role with PokerStars, was fully involved in sale talks and allegedly threatened to not pay the $4 million termination fee if the deal went south.</p> <p>Some other points in the brief:</p> The casino didn’t want to take the risk PokerStars bid would linger most of the summer, only to get rejected by the state. The Atlantic Club is worried about missing the chance to pursue other opportunities during the launch of online gaming in New Jersey. According to the defendants it would be a “catastrophic” result for the Atlantic Club if the restraining order by PokerStars, which keeps the casino from seeking other buyers, is not removed. The Atlantic Club claims PokerStars is associated with serious criminal activities more extensive and unresolved than previously disclosed. This is likely to do with the American Gaming Associations’ accusations against PokerStars. <p> </p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 14 May 2013 07:43:48 -0700 http://www.pokerlistings.com/atlantic-club-responds-to-pokerstars-allegations-87947 http://www.pokerlistings.com/atlantic-club-responds-to-pokerstars-allegations-87947 http://www.pokerlistings.com/atlantic-club-responds-to-pokerstars-allegations-87947#comments Law &amp; Business <p>Last week <a target="_blank" href="http://www.pokerlistings.com/phil-ivey-sues-london-casino-for-12-1-million-84462">Ivey filed a lawsuit against the Casino</a>, which has yet to pay out Ivey’s $12.1 million win.</p> <p>The <a target="_blank" href="http://www.dailymail.co.uk/news/article-2323122/Phil-Ivey-Gambler-won-7-8m-reading-cards.html">Daily Mail</a> reported this weekend the exact method that the Casino is alleging Ivey used to tip the odds in his favor.</p> <p>According to the article, there were tiny imperfections in the cards, possibly due to a printing error and Ivey was able to use the marks to predict the outcome of the game.</p> <p>The aim of Punto Banco is to hold cards with a count of nine or closest to nine. Tens, face cards and multiples of ten count as zero.</p> <p>According to the Daily Mail report, Ivey frequently requested the banker rotate the cards, allegedly so he could make out the pattern.</p> <p>The massive game occurred last August with Ivey accompanied by an unidentified Chinese woman.</p> <p>Ivey insisted he did nothing illegal in the lawsuit against Crockfords and maintains he had no choice but to pursue legal action.</p> <p>Arguably the best poker player in the world, Ivey has over $17 million in live-tournament winnings and nine WSOP bracelets.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 13 May 2013 07:43:58 -0700 http://www.pokerlistings.com/casino-alleges-ivey-detected-flaws-during-12m-win-94612 http://www.pokerlistings.com/casino-alleges-ivey-detected-flaws-during-12m-win-94612 http://www.pokerlistings.com/casino-alleges-ivey-detected-flaws-during-12m-win-94612#comments Law &amp; Business <p>“Crockfords has left me no alternative but to proceed with legal action, following its decision to withhold my winnings,” said Ivey in a statement.</p> <p>Ivey’s lawyer, Matthew Down, said the poker pro “regretted” having to move forward with the lawsuit.</p> <p>Last August Ivey allegedly <a target="_blank" href="http://www.pokerlistings.com/daily-3-bet-ivey-sham-lederer-hug-feldman-shameless-87732">went on a huge heater</a> playing table game PUnto Banco at Crockfords Casino in London.</p> <p>After playing for two days, Ivey went to cash out and the casino told Ivey his winnings would be transferred to his bank account. He never received the funds.</p> <p>The casino didn't make it clear why it didn’t pay out its customer but according to the LA Times it did send their investigators in to analyze Ivey’s play at Punto Banco. The investigators allegedly found nothing, which isn’t all that surprisingly considering PUnto Banco is purely a luck game.</p> <p>Crockfords Casino, which is part of Southeast Asia’s Genting Group, has not responded to the claim in court.</p> <p>Ivey is arguably the best poker player in the world with over $16 million in recorded live tournament winnings. He recently <a target="_blank" href="http://www.pokerlistings.com/ivey-battles-back-to-win-ninth-bracelet-at-wsop-apac-88182">won his ninth WSOP bracelet</a> at the WSOP Asia-Pacific in Melbourne, Australia.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 07 May 2013 07:17:05 -0700 http://www.pokerlistings.com/phil-ivey-sues-london-casino-for-12-1-million-84462 http://www.pokerlistings.com/phil-ivey-sues-london-casino-for-12-1-million-84462 http://www.pokerlistings.com/phil-ivey-sues-london-casino-for-12-1-million-84462#comments Law &amp; Business <p>On Monday the Rational Group, which owns PokerStars and Full Tilt Poker, filed a lawsuit in New Jersey Superior Court seeking to restrain the sellers of the Atlantic Club from allegedly breaching the purchase agreement that was made in December 2012.</p> <p>This is following the Atlantic Club’s announcement they were <a href="http://www.pokerlistings.com/breaking-pokerstars-deal-in-atlantic-city-falls-through-13657">terminating the agreement last week</a>.</p> <p>“This step has been taken to protect Rational Group's rights and interests under the purchase agreement and reflects the Group's desire to complete the acquisition of the Atlantic Club,” said Eric Hollreiser, Head of Corporate Communications for PokerStars.</p> <p>According to the statement the Rational Group funded Atlantic Club shortfalls throughout the winter season since October 2012, preventing bankruptcy and the loss of over 1,800 jobs.</p> <p>Judge Raymond Batten has already granted the Rational Group’s request for a temporary restraining order.</p> <p>The entire complaint, which you can read <a href="https://docs.google.com/file/d/1-Uiy8YN1AT7TEUfHD5lgcxwxzRZ7XMsk7lqmfP22i8AQLo89XZVtmcW5SRmS/edit">here</a>, offered several other interesting bullet points:</p> PokerStars alleges they have already paid the Atlantic Club 2/3 of the purchase price in advance payments. The Rational Group received no notice from the Atlantic Club they were going to terminate the purchase agreement. The purchase price for the struggling Atlantic Club was only $15 million. <br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 06 May 2013 12:13:25 -0700 http://www.pokerlistings.com/pokerstars-alleges-breach-in-contract-with-atlantic-club-62264 http://www.pokerlistings.com/pokerstars-alleges-breach-in-contract-with-atlantic-club-62264 http://www.pokerlistings.com/pokerstars-alleges-breach-in-contract-with-atlantic-club-62264#comments Law &amp; Business <p>The Atlantic Club’s CEO Michael Fawley announced the deal was terminated today. Interestingly he also said the casino remains committed to pursuing other opportunities offered by online gambling. </p> <p>The Rational Group, which owns PokerStars and Full Tilt Poker, <a title="http://UltimatePoker.com" target="_blank" href="http://www.pokerlistings.com/pokerstars-to-purchase-atlantic-city-casino-47970">filed the paperwork</a> to purchase the Atlantic Club in January.</p> <p>The floundering Atlantic Club, formerly the Atlantic City Hilton, had seen profits dwindle over the last five years thanks to more competition from casinos in New York and Pennsylvania as well as worldwide recession in 2008.</p> <p>The Rational Group was set to purchase the Atlantic Club for just $30 million, which is a far cry from the $1.24 billion the current owners paid for the facility and three other casinos in 2005.</p> <h3>PokerStars Facing Opposition from American Gaming Association</h3> <p>The PokerStars deal to purchase The Atlantic Club was under <a title="http://UltimatePoker.com" target="_blank" href="http://www.pokerlistings.com/forbes-caesars-offered-wsop-rio-to-pokerstars-83783">heavy criticism from the American Gaming Association</a>.</p> <p>The AGA, which represents major brick and mortar casinos such as Caesars, went so far as to claim PokerStars operated as a “criminal enterprise for years.”</p> <p>On the other hand the deal had plenty of supporters and a <a title="http://UltimatePoker.com" target="_blank" href="http://www.pokerlistings.com/daily-3-bet-chainsaw-crushes-pokerstars-love-scoop-preview-26826">recent survey</a> of poker players in New Jersey saw 96% in support of PokerStars purchasing The Atlantic Club.</p> <p>According to <a title="http://UltimatePoker.com" target="_blank" href="http://blog.northjersey.com/meadowlandsmatters/5682/breaking-pokerstars-deal-to-buy-atlantic-club-has-been-scrapped/">NorthJersey.com</a> the deal to buy the casino expired on Friday.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 01 May 2013 08:02:55 -0700 http://www.pokerlistings.com/breaking-pokerstars-deal-in-atlantic-city-falls-through-13657 http://www.pokerlistings.com/breaking-pokerstars-deal-in-atlantic-city-falls-through-13657 http://www.pokerlistings.com/breaking-pokerstars-deal-in-atlantic-city-falls-through-13657#comments Law &amp; Business <p>According to <a target="_blank" href="http://www.bloomberg.com/news/2013-04-15/full-tilt-poker-founder-to-plead-guilty-to-two-counts.html">Bloomberg News</a> Bitar pleaded guilty to conspiracy on two counts, was sentenced to time served and relinquished his ill-gotten assets as previously agreed to in his plea deal.</p> <p>In custody at his home in California since <a target="_blank" href="http://www.pokerlistings.com/fbi-arrests-full-tilt-poker-ceo-ray-bitar-53464">his arrest in July of last year</a>, Bitar agreed to a deal which sees him evade jail time <a target="_blank" href="http://www.pokerlistings.com/ftp-s-bitar-to-plead-guilty-miss-jail-time-due-to-heart-transplant-47413">while he awaits a heart transplant</a>. The judge in the case had the discretion to setence Bitar to up to 35 years in prison.</p> <p>Doctors estimate Bitar's heart condition gives him a 50% chance of dying within the next 6 to 12 months if he doesn't receive the transplant.</p> <p>The exact dollar figure of Bitar's forfeiture was listed at $40 million, which is comparable to Howard Lederer's <a href="http://www.pokerlistings.com/lederer-settles-with-doj-forfeits-millions-89059">forfeiture agreed to last year</a>.</p> <p>Bitar's lawyer also told the judge Bitar would be enrolled in a heart transplant program on May 6.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 15 Apr 2013 11:24:41 -0700 http://www.pokerlistings.com/bitar-sentenced-to-time-served-forfeits-assets-30396 http://www.pokerlistings.com/bitar-sentenced-to-time-served-forfeits-assets-30396 http://www.pokerlistings.com/bitar-sentenced-to-time-served-forfeits-assets-30396#comments Law &amp; Business <p>According to the Wall Street Journal, the agreement would see Bitar concede most of his personal assets but potentially avoid jail time because of his medical condition. </p> <p>Bitar’s lawyers revealed their client’s condition during the hearing, which took place earlier today. The heart condition is believed to be very serious and Bitar’s doctors reportedly estimate he has a 50% chance of dying within the next 6 to 12 months if he doesn't receive a transplant.</p> <p>U.S. District Judge Loretta Preska has total discretion as far as sentencing and could agree to the request by the defense or she could sentence Bitar up to 35 years in federal prison.</p> <p>Preska has set April 19 as a potential date for the plea to take place.</p> <p>The U.S. Department of Justice filed criminal cases against Bitar, PokerStars chairman Isai Scheinberg, former PokerStars director of payment Paul Tate and UB co-founder Scott Tom on April 15, 2011, a date now known in the poker community as <a target="_blank" href="http://www.pokerlistings.com/pokerstars-full-tilt-absolute-poker-founders-indicted-48064">Black Friday</a>.</p> <p>Scheinberg and Tate are never expected to return to the U.S. and face charges while Tom’s whereabouts is unknown.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 08 Apr 2013 22:35:24 -0700 http://www.pokerlistings.com/ftp-s-bitar-to-plead-guilty-miss-jail-time-due-to-heart-transplant-47413 http://www.pokerlistings.com/ftp-s-bitar-to-plead-guilty-miss-jail-time-due-to-heart-transplant-47413 http://www.pokerlistings.com/ftp-s-bitar-to-plead-guilty-miss-jail-time-due-to-heart-transplant-47413#comments Law &amp; Business <p>Announced yesterday in the Zynga blog by Chief Revenue Officer Barry Cottle, both ZyngaPlusPoker and ZyngaPlusCasino are now available in download and web versions to players over 18 in the United Kingdom.</p> <p>Using the bwin.party software platform, ZyngaPlusPoker will offer cash games and tournaments across a variety of stake levels. ZyngaPlusCasino will spread 160 slots games along with blackjack, roulette, baccarat and video poker.</p> <p>Real-money bonuses and free cash on deposit will also be available.</p> <h3>US Launch Still Regulation Dependant</h3> <p>"Our long term vision," Cottle wrote, "is to offer our players the next generation of real money games on multiple platforms in regulated markets worldwide.</p> <p>"We take responsible gaming seriously and are proud to partner with bwin.party, an industry leader and a reputable company that is fully licensed by a premier regulatory authority."</p> <p>Long thought to be the next step in a new "poker boom," poker players worldwide are hoping Zynga can convert its massive social gaming base into new money in the poker pool.</p> <p>Zynga has applied for a gambling license in Nevada but is waiting for a larger regulated market in the US before diving in to the real-money business.</p> <p>Players outside of the UK who want to rail the games can download and install the client similar to any other online poker site.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 03 Apr 2013 06:35:59 -0700 http://www.pokerlistings.com/real-money-zynga-poker-goes-live-in-uk-96788 http://www.pokerlistings.com/real-money-zynga-poker-goes-live-in-uk-96788 http://www.pokerlistings.com/real-money-zynga-poker-goes-live-in-uk-96788#comments Law &amp; Business <p>Rep. Mike Huval has asked the state’s house committee to perform a study that will examine the option of legalizing online poker and gambling Louisiana.</p> <p>”Louisiana has the potential to benefit economically by legalizing Internet gaming,” said Huval in his proposal statement.</p> <p>Huval argued that online gambling could potentially bring millions in revenue to the state and provide a safer environment for Louisiana residents to gamble.</p> <p>The study that Huval requested would delve into the “feasibility and practicality” of offering online gambling in Louisiana.</p> <p>There may be a bit of a wait for legal online poker in Louisiana, however, as the study won’t be submitted until next year.</p> <h3>Louisiana Could Become Fourth State to Allow Online Gambling</h3> <p>Louisiana would hardly be the only state to legalize online gambling as <a target="_blank" href="http://www.pokerlistings.com/nevada-fast-tracks-online-poker-bill-looks-to-beat-nj-91297">Nevada</a>, <a target="_blank" href="http://www.pokerlistings.com/new-jersey-finally-legalizes-online-poker-48669">New Jersey</a> and Delaware have all passed legislation that permits Internet gambling.</p> <p>There is even talk of forming interstate online compacts to share player pools across the United States.</p> <p>In fact this week the state of Nevada announced it was <a href="http://gaming.nv.gov/modules/showdocument.aspx?documentid=7692">soliciting comments from the general public</a> on how to approach interstate agreements for online gambling.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 19 Mar 2013 08:20:45 -0700 http://www.pokerlistings.com/louisiana-contemplates-legalizing-online-poker-81467 http://www.pokerlistings.com/louisiana-contemplates-legalizing-online-poker-81467 http://www.pokerlistings.com/louisiana-contemplates-legalizing-online-poker-81467#comments Law &amp; Business <p>The DOJ went with the Garden City Group as Claims Administrator and the group already has a website up for Full Tilt victims who will be making a claim.</p> <p>The website can be accessed at <a target="_blank" href="http://www.fulltiltpokerclaims.com/index.php">www.fulltiltpokerclaims.com</a>.</p> <p>“The Garden City Group brings a track record of handling the administration of some of the country’s largest and most complicated settlements,” said Preet Bharara, the United States Attorney for the Southern District of New York.</p> <p>“With their selection, we take a significant step forward in the process of compensating victims of the Full Tilt Poker scheme.”</p> <h3>PokerStars Settlement Will Go Towards Paying Back FTP Players</h3> <p>Bharara made it clear that part of the $547 million that PokerStars <a target="_blank" href="http://www.pokerlistings.com/pokerstars-settles-with-doj-acquires-full-tilt-poker-95329">forfeited to take on the assets of Full Tilt Poker</a> will be utilized to pay players back.</p> <p>U.S. Full Tilt players have been waiting since <a target="_blank" href="http://www.pokerlistings.com/pokerstars-full-tilt-absolute-poker-founders-indicted-48064">Black Friday</a>, which occurred on April 15, 2011, to be paid out their account balances.</p> <p>The situation got dramatically worse for FTP players in the fall of 2011, when the <a target="_blank" href="http://www.pokerlistings.com/breaking-doj-calls-full-tilt-ponzi-scheme-claims-owners-defrauded-players-46671">DOJ broke news</a> that the company did not have enough money to cover its player base.</p> <p>U.S. FTP players can email info@fulltiltpokerclaims.com for more information regarding the claims process.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 13 Mar 2013 15:04:21 -0700 http://www.pokerlistings.com/doj-u-s-full-tilt-players-can-make-claims-shortly-46252 http://www.pokerlistings.com/doj-u-s-full-tilt-players-can-make-claims-shortly-46252 http://www.pokerlistings.com/doj-u-s-full-tilt-players-can-make-claims-shortly-46252#comments Law &amp; Business <p>The two companies are set to launch the All American Poker Network, which will offer online poker in states that have officially legalized the game.</p> <p>So far <a target="_blank" href="http://www.pokerlistings.com/nevada-fast-tracks-online-poker-bill-looks-to-beat-nj-91297">Nevada</a>, Delaware and<a target="_blank" href="http://www.pokerlistings.com/new-jersey-finally-legalizes-online-poker-48669"> New Jersey</a> have all passed laws that allow online poker. </p> <p>The contract between 888poker and Avenue Capital is the first of its kind. The All American Poker Network will start by launching in Nevada with casino Treasure Island as the first skin on the network. </p> <p>888poker and Avenue Capital can pick up their licenses as early as March 21.</p> <h3>888poker Working with Caesars on WSOP-Branded Room</h3> <p>888poker also has a deal with Caesars Entertainment to offer <a target="_blank" href="http://www.pokerlistings.com/888-caesars-extend-software-deal-to-us-12785">online poker in the U.S. under the WSOP brand</a>. The Nevada Gaming Commission has already approved the partnership.</p> <p>The Avenue Capital Group usually focuses on distressed securities and private equity with approximately 200 employees spread across eight offices worldwide.</p> <p>Chelsea Clinton, daughter of former U.S. president Bill Clinton, famously worked for the firm.</p> <p>Meanwhile 888poker is one of the most popular poker sites in the world and its revamped software has been <a target="_blank" href="http://www.pokerlistings.com/888poker-gets-nod-as-2011-poker-operator-of-the-year-76682">winning awards in recent years</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 12 Mar 2013 08:37:58 -0700 http://www.pokerlistings.com/888poker-eyes-pending-u-s-online-poker-with-new-deal-43920 http://www.pokerlistings.com/888poker-eyes-pending-u-s-online-poker-with-new-deal-43920 http://www.pokerlistings.com/888poker-eyes-pending-u-s-online-poker-with-new-deal-43920#comments Law &amp; Business <p>The bill, which passed by a 10-4 vote, still has to get through a full senate vote, which could happen within the next few days.</p> <p>If the bill passed it would legalize all online gambling including games of chance and games of skill, such as poker.</p> <p>Despite Illinois governor Pat Quinn vetoing two earlier attempts, this time he seems optimistic about the bill.</p> <p>Just hours before the online gambling bill passed through senate committee, Quinn announced a massive $400 million cut from the state’s education budget so he would welcome any new influx of cash.</p> <p>Quinn went on to say that under the right circumstances he would approve gambling expansion in the state.</p> <h3>International Sites That Operated in the U.S. to Be Locked Out</h3> <p>The Illinois online gambling bill includes a “bad actor” clause that would restrict any online poker sites that offered online gambling when it was in violation of U.S. law during the 10 years prior to their application.</p> <p>That clause would ban all major online poker sites, even the ones that withdrew because of UIGEA.</p> <p>Illinois could potentially become the fourth state to legalize online poker joining <a target="_blank" href="http://www.pokerlistings.com/nevada-fast-tracks-online-poker-bill-looks-to-beat-nj-91297">Nevada</a>, <a target="_blank" href="http://www.pokerlistings.com/nj-gov-christie-greenlights-online-poker-with-conditions-47465">New Jersey</a> and Delaware.</p> <p>Illinois is an intriguing option for online gaming thanks to its large population. Illinois’ 12.8 million residents is more than the population of Nevada, New Jersey and Delaware combined.</p> <p>Although Nevada, New Jersey and Delaware have all legalized online poker, there has yet to be a single U.S.-facing site launched. Some industry insiders believe the first one will launch before the end of 2013.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 08 Mar 2013 08:25:34 -0800 http://www.pokerlistings.com/could-illinois-be-next-to-legalize-online-poker-39786 http://www.pokerlistings.com/could-illinois-be-next-to-legalize-online-poker-39786 http://www.pokerlistings.com/could-illinois-be-next-to-legalize-online-poker-39786#comments Law &amp; Business <p>It’s a surprising move by Caesars considering the two companies have been considered rivals since PokerStars continued to operate in the U.S. after <a target="_blank" href="http://www.pokerlistings.com/black-friday-history-week-how-the-uigea-changed-everything">UIGEA passed in 2006</a>.</p> <p>According to <a target="_blank" href="http://www.forbes.com/sites/nathanvardi/2013/03/05/the-battle-for-online-poker-between-pokerstars-and-caesars-entertainment-goes-to-new-jersey/?partner=yahootix">Forbes</a> the deal was offered to PokerStars in February and the massive online gaming site eventually turned it down.</p> <p>There was a statement by PokerStars Head of Corporate Communications Eric Hollreiser on the issue:</p> <p>Caesars Entertainment approached PokerStars and offered to sell us certain assets, such as the Rio Casino in Las Vegas. Caesars suggested that this acquisition would give us a better relationship with Caesars and would help PokerStars gain a license in Nevada.</p> <p>PokerStars declined the offer because we had no plans to acquire another casino in the near term.</p> <p>Meanwhile PokerStars recently went through with plans to <a target="_blank" href="http://www.pokerlistings.com/pokerstars-to-purchase-atlantic-city-casino-47970">buy the Atlantic Club in New Jersey</a>. It’s the first casino the company has attempted to purchase in the U.S.</p> <h3>Caesars-Backed AGA Opposes PokerStars Purchase in A.C.</h3> <div class="image-container image-landscape-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/atlantic-club-casino.jpg"><img class="image-position image-landscape-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage320180-atlantic-club-casino.jpg" alt="atlantic club casino" width="320" height="180"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">The Atlantic Club in New Jersey</div> <div class="image-osd-background"> </div> </div> </div> <p>The Atlantic Club purchase has not gone off without a hitch as the American Gaming Association recently filed a 26-page brief opposing PokerStars’ petition for interim casino authorization in the state.</p> <p>The lobby group claimed PokerStars “was operated as a criminal enterprise for many years” referring to the site’s continued presence in the U.S. after UIGEA.</p> <p>The AGA went on to say that allowing PokerStars to be licensed would send a damaging message to the gaming world. </p> <p>Sen. Jim Whelan feels differently. He has come out in support of the PokerStars deal and alleged that Caesars Entertainment, which owns numerous casinos in Atlantic City, is using the AGA to keep their competition out of the area.</p> <p>“They are motivated by greed,” said Whelan. “They want to keep foreign investors out... The gaming association is their vehicle.”</p> <p><a target="_blank" href="http://www.pokerlistings.com/poker-stars">PokerStars</a> insists that its suitability for a gaming license in the U.S. is a matter for experienced regulators to decide.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 05 Mar 2013 07:54:06 -0800 http://www.pokerlistings.com/forbes-caesars-offered-wsop-rio-to-pokerstars-83783 http://www.pokerlistings.com/forbes-caesars-offered-wsop-rio-to-pokerstars-83783 http://www.pokerlistings.com/forbes-caesars-offered-wsop-rio-to-pokerstars-83783#comments Law &amp; Business <p>As expected Governor Chris Christie signed an online gambling bill into law today after <a target="_blank" href="http://www.pokerlistings.com/nj-gov-christie-greenlights-online-poker-with-conditions-47465">conditionally vetoing the bill</a> earlier in the month.</p> <p>Christie maintained he would sign the bill if the necessary changes were made.</p> <p>The legislature had no problem amending the bill to increase operator tax from 10% to 15% and also added a 10-year expiration date.</p> <p>Earlier in the day the bill passed through legislature with a vote of 31-1. Republican Senator Michael Doherty was the only member to vote against the bill. It passed through Assembly by a vote of 68-5.</p> <p>New Jersey joins Nevada and Delaware as the only states in the U.S. to have fully legalized online poker. <a target="_blank" href="http://www.pokerlistings.com/nevada-fast-tracks-online-poker-bill-looks-to-beat-nj-91297">Nevada fast-tracked its bill into law</a> earlier this month in response to New Jersey’s pending bill.</p> <h3>U.S. Players Still Waiting for First Legal Site to Launch</h3> <p>The next step for New Jersey, as well as Nevada and Delaware, is to actually launch a regulated online poker site.</p> <p>Nevada has issued numerous online gaming licenses to major properties like Caesars, Station Casinos and MGM but no site has gone live yet.</p> <p>There is no timetable although some Internet gaming experts are predicting sites will be online before the end of the year.</p> <p>There are questions as to whether sites like Full Tilt Poker and PokerStars, which operated in the U.S. after 2006, will be allowed to apply for licenses in New Jersey.</p> <p>The Rational Group, which owns PokerStars, recently announced plans to <a target="_blank" href="http://www.pokerlistings.com/pokerstars-to-purchase-atlantic-city-casino-47970">purchase The Atlantic Club</a> in New Jersey.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 26 Feb 2013 13:00:07 -0800 http://www.pokerlistings.com/new-jersey-finally-legalizes-online-poker-77728 http://www.pokerlistings.com/new-jersey-finally-legalizes-online-poker-77728 http://www.pokerlistings.com/new-jersey-finally-legalizes-online-poker-77728#comments Law &amp; Business <p>The Nevada legislature today fast-tracked an online gaming bill that would allow the state to move ahead with online poker and join interstate compacts.</p> <p>The legislature declared an emergency measure to get it to Gov. Brian Sandoval for signature. Later in the day Sandoval signed the bill.</p> <p>Nevada not only wants online poker, but also wants it fully legal before New Jersey, according to a story with The Las Vegas Sun.</p> <p>“We’re going to do it now,” said Assembly Majority Leader William Horne, D-Las Vegas <a target="_blank" href="http://www.lasvegassun.com/news/2013/feb/21/online-poker-bill-moves-forward-nevada-legislature/">in the article</a>. “We’re going to beat New Jersey.”</p> <p>Earlier this month New Jersey Gov. Chris Christie gave the <a target="_blank" href="http://www.pokerlistings.com/nj-gov-christie-greenlights-online-poker-with-conditions-47465">greenlight for online poker in New Jersey</a> with a few conditions.</p> <p>Gov. Sandoval called the Nevada online poker bill his biggest priority and urged lawmakers to pass it within the first 30 days of assembly.</p> <p>Pete Ernaut, lobbyist for the Nevada Resort Association, even went so far as to call the burgeoning battle between Nevada and New Jersey as the “gaming version of the space race.”</p> <p>A federal online poker bill <a href="http://www.pokerlistings.com/window-closes-on-us-online-poker-bill-in-2012-94008" target="_blank">failed to pass in late 2012</a>, which has left individual states scrambling to pass their own poker bills.</p> <p>New Jersey, Delaware and Las Vegas are the only states that already have online gambling laws in place, but other states are starting to consider their own proposals.</p> <p>The Nevada bill would ban operators who illegally offered online poker in the U.S. between 2006 and 2011 for five years.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 21 Feb 2013 14:31:19 -0800 http://www.pokerlistings.com/nevada-fast-tracks-online-poker-bill-looks-to-beat-nj-91297 http://www.pokerlistings.com/nevada-fast-tracks-online-poker-bill-looks-to-beat-nj-91297 http://www.pokerlistings.com/nevada-fast-tracks-online-poker-bill-looks-to-beat-nj-91297#comments Law &amp; Business <p>City of Dreams is one of the biggest properties in Macau and includes Hard Rock, Crown Towers and Grand Hyatt.</p> <p>The new <a target="_blank" href="http://www.pokerlistings.com/poker-stars">PokerStars</a> LIVE room at the venue will offer cash games and daily tournaments at 13 permanent tables.</p> <p>It will play host to upcoming Asia Championship of Poker (ACOP), Asia-Pacific Poker Tour (APPT) and Macau Poker Cup events.</p> <p>“The PokerStars online brand drives more traffic to live poker events than any other,” said Danny McDonagh, PokerStars Director of Live Operations for Asia-Pacific.</p> <p>“Players know that PokerStars is synonymous with integrity and high quality. That makes this collaboration a natural fit because City of Dreams has been at the forefront in providing the most innovative and premium gaming experience that is second to none in Macau."</p> <h3>PokerStars Now Up to Three Live Venues</h3> <p>City of Dreams marks the third PokerStars LIVE property including the <a target="_blank" href="http://www.pokerlistings.com/daily-3-bet-stratospheric-poker-schemion-grabs-pom-pokerstars-live-99226">Casino Gran Madrid</a> in Spain and the <a target="_blank" href="http://www.pokerlistings.com/pokerstars-to-open-24-hour-live-poker-room-in-london-28935">London Hippodrome</a> in London, England.</p> <p>Interestingly the Hippodrome just launched an online casino with future plans for an online poker section provided by PokerStars.</p> <p>PokerStars has become heavily invested in live poker over the last year and is also in the process of <a target="_blank" href="http://www.pokerlistings.com/pokerstars-to-purchase-atlantic-city-casino-47970">acquiring the Atlantic Club in New Jersey</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 21 Feb 2013 08:00:34 -0800 http://www.pokerlistings.com/pokerstars-live-coming-to-city-of-dreams-in-macau-49128 http://www.pokerlistings.com/pokerstars-live-coming-to-city-of-dreams-in-macau-49128 http://www.pokerlistings.com/pokerstars-live-coming-to-city-of-dreams-in-macau-49128#comments Law &amp; Business <p>The settlement will see Ferguson pay back at least $2.3 million along with all the cash in an account simply referred to as the “Ferguson Account.” At one point the U.S. government was seeking $42 million from Ferguson. </p> <p>Imrich has posted the<a target="_blank" href="http://www.jdsupra.com/legalnews/stipulation-and-order-of-settlement-in-81592/"> entire settlement</a> on jdsupra.com but here are some of the highlights:</p> Ferguson’s funds will contribute to getting U.S. Full Tilt players paid back. He admits no wrongdoing and contends that he was unaware of any wrongful activity by Full Tilt or that the company had become unable to satisfy player account liabilities. Ferguson forfeits to the government any remaining interest in Full Tilt Poker. He agrees not to file any claim or petition for restoration of the Ferguson Accounts Funds. Ferguson has also agreed to not work for, or derive money from, any business offering unlawful Internet poker or gambling in the U.S. It's unknown exactly how much Ferguson will pay back but it will be at least $2,350,000. <p>Ferguson, along with other Full Tilt owners, was charged with <a target="_blank" href="http://www.pokerlistings.com/breaking-doj-calls-full-tilt-ponzi-scheme-claims-owners-defrauded-players-46671">running a Ponzi scheme</a> after the site was unable to pay back players after <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a>.</p> <p>The amended civil complaint alleged that Ferguson, along with Howard Lederer and Rafe Furst had “lined their pockets with funds from their most loyal costumers while blithely lying to both players and public alike about the safety and security of the money deposited."</p> <p>Ferguson, easily one of the most well-known poker players in the world, has not been seen on the poker circuit since Black Friday on April 15, 2011.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 19 Feb 2013 15:36:57 -0800 http://www.pokerlistings.com/full-tilt-s-ferguson-settles-with-doj-pending-court-approval-37031 http://www.pokerlistings.com/full-tilt-s-ferguson-settles-with-doj-pending-court-approval-37031 http://www.pokerlistings.com/full-tilt-s-ferguson-settles-with-doj-pending-court-approval-37031#comments Law &amp; Business <p>Christie technically vetoed the bill but said that he would support the law if it were put on a 10-year trial period.</p> <p>“I recommend that this law authorizing Internet gaming in New Jersey sunset after a period of ten years, giving future leaders the perspective and opportunity to revise and renew Internet gaming as appropriate,” Christie said <a target="_blank" href="http://theppa.org/ppa/2013/02/07/nj-conditional-veto-for-a2578/">in a statement</a>.</p> <p>Online gaming advocates were concerned Christie would veto the bill outright so today’s development is being considered a victory for Internet gaming.</p> <p>"With these goals in mind, I have concluded that now is the time for our State to move forward, again leading the way for the nation, by becoming one of the first States to permit Internet gaming,” said Christie. </p> <p>“I authorize this step towards modernizing Atlantic City’s entertainment attractions cautiously, with carefully constructed limitations that will ensure the highest integrity and the most robust oversight."</p> <p>The governor recommended that Internet gaming be taxed at a rate of 15 percent, instead of the proposed 10 percent, and that compulsive gaming programs should be better funded.</p> <p>The bill now returns to state legislature where it will be revised based on the governor’s recommendations. Christie will provide his final signature after the amendments have been made.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 07 Feb 2013 11:45:51 -0800 http://www.pokerlistings.com/nj-gov-christie-greenlights-online-poker-with-conditions-47465 http://www.pokerlistings.com/nj-gov-christie-greenlights-online-poker-with-conditions-47465 http://www.pokerlistings.com/nj-gov-christie-greenlights-online-poker-with-conditions-47465#comments Law &amp; Business <p>Over the months since IveyPoker launched they've <a target="_blank" href="http://www.pokerlistings.com/daily-3-bet-ivey-siren-liv-horseface-startups-poker-25787">signed no less than 28 poker pros</a> but did little to indicate what the site would actually do.</p> <p>The answer to that question is now more clear, however, as IveyPoker explains that LeggoPoker will serve as the foundation for a new subscription-based poker teaching site.</p> <p>“In my opinion, LeggoPoker is one of the best teaching sites on the market,” said Phil Ivey.</p> <p>“They are a great match with IveyPoker and together we will offer a top-notch educational poker destination in Ivey League.”</p> <p>The subscription-based strategy service has been modeled to pick up where IveyPoker's soon-to-launch free social and mobile poker game leaves off with aspiring players' poker educations.</p> <p>LeggoPoker coaches Aaron Jones, Dan Smith and Andrew Lichtenberger will join Team IveyPoker and continue teaching poker strategy via the new Ivey League.</p> <p>To elaborate on the new acquisition Ivey sat down with LeggoPoker's Aaron Jones.</p> <br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 07 Feb 2013 08:15:00 -0800 http://www.pokerlistings.com/iveypoker-buys-leggopoker-plans-to-launch-ivey-league-16463 http://www.pokerlistings.com/iveypoker-buys-leggopoker-plans-to-launch-ivey-league-16463 http://www.pokerlistings.com/iveypoker-buys-leggopoker-plans-to-launch-ivey-league-16463#comments Law &amp; Business <p>The Rational Group, which owns <a target="_blank" href="http://www.pokerlistings.com/poker-stars">PokerStars</a> and <a target="_blank" href="http://www.pokerlistings.com/full-tilt-poker">Full Tilt Poker</a>, filed papers with the New Jersey Division of Gaming Enforcement asking for approval to purchase the Atlantic Club in the city. </p> <p>It’s the first time an online gaming company has purchased a casino in Atlantic City.</p> <p>Formerly known as the Atlantic City Hilton Casino Resort, the Atlantic Club has struggled under its current ownership and suffered a $13.6 million operating loss in the first nine months of 2012.</p> <p>If the purchase goes through, the club would receive funding through the Rational Group’s U.S. subsidiary.</p> <h3>Casino Would Be First Live Casino for PokerStars in U.S.</h3> <p>The Atlantic Club could potentially act as live hub for PokerStars in the Atlantic City area if the proposed law to authorize online gambling is passed.</p> <p>New Jersey Gov. Chris Christie has yet to act on the gambling law.</p> <p>It’s unknown how much the Rational Group would pay for the Atlantic Club but it’s believed to be far less than what it was purchased for in 2005 when Colony Capital LLC took over four casinos for $1.24 billion.</p> <p>The Atlantic Club was valued at $513 million in 2005. It's been rumored the purchase price in 2012 <a target="_blank" href="http://www.pokerlistings.com/pokerstars-in-talks-to-buy-atlantic-city-casino-99111">was $50 million</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 16 Jan 2013 08:02:15 -0800 http://www.pokerlistings.com/pokerstars-to-purchase-atlantic-city-casino-47970 http://www.pokerlistings.com/pokerstars-to-purchase-atlantic-city-casino-47970 http://www.pokerlistings.com/pokerstars-to-purchase-atlantic-city-casino-47970#comments Law &amp; Business <p>The Gaming Control Board submitted a bill draft last week that would amend current gaming regulations to allow Nevada to enter into agreements with other states that legalize online poker. </p> <p>The amended bill would theoretically permit Nevada to accept bets from poker players in other states. Because the state only has about three million residents it makes sense for Nevada to accept players from other states.</p> <p>New Jersey has also introduced a bill that allows interstate online poker but Governor Chris Christie has yet to make a decision on that bill.</p> <p>Delaware is the only other state that has already authorized intrastate online gaming.</p> <p>The next step for the proposed amendment in Nevada is the judiciary committee. As of yet there is no timetable for when it will be approved.</p> <p>The U.S. potentially opened the door for online poker in late 2011 when the DOJ concluded the <a target="_blank" href="http://www.pokerlistings.com/doj-says-wire-act-only-applies-to-sports-betting-14642">Wire Act only applied to sports betting</a>.</p> <p><a target="_blank" href="http://www.pokerlistings.com/nevada-approves-regulations-for-online-poker-13471">Nevada</a> has issued <a target="_blank" href="http://www.pokerlistings.com/bwin-party-seeks-nevada-gaming-license-17562">online gaming licenses to 17 operators</a> but none of them have started offering online poker for real money.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 10 Jan 2013 08:51:41 -0800 http://www.pokerlistings.com/nevada-aims-for-multi-state-online-poker-with-new-law-87216 http://www.pokerlistings.com/nevada-aims-for-multi-state-online-poker-with-new-law-87216 http://www.pokerlistings.com/nevada-aims-for-multi-state-online-poker-with-new-law-87216#comments Law &amp; Business <p>New <a target="_blank" href="http://www.pokerlistings.com/betfair-poker">Betfair Poker</a> will be launched later this month with enhanced tournament options, more tables and more recreational players. </p> <p>"Our intention has always been to offer our customers a rewarding and varied poker experience,” said Betfair Director of Gaming Sam Hobcraft.</p> <p>“Launching New Betfair Poker on Playtech's platform will help us to continue to achieve this goal.”</p> <p>Interestingly Classic Betfair Poker will run alongside New Betfair Poker meaning Ongame fans will still have access to the old network for six months.</p> <p>iPoker is the largest network of online poker rooms in the world and it includes <a target="_blank" href="http://www.pokerlistings.com/titan-poker">Titan Poker</a>, <a target="_blank" href="http://www.pokerlistings.com/winner-poker">Winner Poker</a>, <a target="_blank" href="http://www.pokerlistings.com/william-hill-poker">William Hill Poker</a>, <a target="_blank" href="http://www.pokerlistings.com/everest-poker">Everest Poker</a> and <a target="_blank" href="http://www.pokerlistings.com/poker770">Poker770</a>.</p> <p>The iPoker Network recently split into two separate networks with a top-tier that purportedly has more recreational players. Betfair Poker will join Titan Poker, William Hill and Everest Poker in the top-tier of the network.</p> <p>Betfair, one of the biggest betting companies in the world, originally launched its poker offering as a skin on the CryptoLogic Network but moved to an independent platform in 2006. In 2010 Betfair moved to the Ongame Network.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 08 Jan 2013 07:44:19 -0800 http://www.pokerlistings.com/betfair-poker-moving-to-ipoker-network-52385 http://www.pokerlistings.com/betfair-poker-moving-to-ipoker-network-52385 http://www.pokerlistings.com/betfair-poker-moving-to-ipoker-network-52385#comments Law &amp; Business <p>Lederer admitted no wrongdoing but was forced to forfeit funds, two Las Vegas houses and a $60,000 Shelby Cobra sportscar.</p> <p>The former Full Tilt Poker board member will also pay a $1.25 million civil money laundering penalty.</p> <p>Details of the forfeiture and settlement were released today in <a target="_blank" href="http://docs.justia.com/cases/federal/district-courts/new-york/nysdce/1:2011cv02564/377900/295/0.pdf?ts=1355923959">a document from the Southern District of New York.</a></p> <p>The following assets belonging to Lederer will be forfeited as part of the settlement:</p> All funds in the Lloyds 0402 account All funds in LPL Financial accounts The Shelby Cobra The Kingsclear property (originally puchased for $505k in 1995) $30,000 USD, representing proceeds traceable to the sale of the Fawn Chase property All proceeds traceable to the sale of the Twin Palms property, which will be sold within 120 days for no less than $440,000 (originally purchased for $905k in 2007). All other assets in his accounts at Lloyds which (not including the 0402 account) has a US dollar value of $168,000. <p>As a further part of the settlement Lederer agreed not to work for or derive money from any internet gambling business in the United States until that activity is regulated.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/howard-lederer-33635.jpg"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-howard-lederer-33635.jpg" alt="Howard Lederer" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Exactly how much Lederer must forfeit remains a mystery.</div> <div class="image-osd-background"> </div> </div> </div> <p>Perhaps frustratingly for former Full Tilt Poker customers, Lederer admits no responsibility, maintaining that FTP was being run as a legitimate company, and that he had no knowledge of any wrongdoing.</p> <p>The settlement states:</p> <p>Lederer contends that Full Tilt Poker was a legitimate business providing services to its customers within the bounds of the law, and that prior to April 15, 2011, he was unaware of any wrongful activity at Full Tilt including that the company had become unable to satisfy its player account liabilities.</p> <h3>Total Dollar Value of Forfeiture Not Known</h3> <p>Over the course of his ownership and management of Full Tilt Poker, Howard Lederer was paid at least $42.5 million, according to <a target="_blank" href="http://docs.justia.com/cases/federal/district-courts/new-york/nysdce/1:2011cv02564/377900/264/0.pdf?ts=1347372448">the Second Amended Complaint</a> filed by the US Attorney's office in September of 2012.</p> <p>That complaint also stated that most of that money had been moved to accounts at Lloyds and Wells Fargo, including the Lloyds 0402 account described in today's settlement.</p> <p>But what the settlement does not describe is how much of that $42.5 million was in the Lloyds 0402 account when it was frozen.</p> <p>Also listed in the settlement is Lederer's LPL Financial accounts, which he <a target="_blank" href="http://www.pokerlistings.com/doj-complaint-seeks-137m-from-lederer-ftp-board-77703">allegedly used to set up a retirement fund with $371k of FTP money.</a></p> <p>Not including the Lloyds 0402 account, Lederer stands to forfeit funds and real estate totaling roughly $2.5 million. That includes the $1.25 million civil money laundering penalty.</p> <p><a href="https://plus.google.com/104078440048835204924" rel="me" target="_blank">Follow the author on Google+</a></p> <p><a target="_blank" href="https://twitter.com/mattshowell">Follow the author on Twitter</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 19 Dec 2012 09:20:00 -0800 http://www.pokerlistings.com/lederer-settles-with-doj-forfeits-millions-89059 http://www.pokerlistings.com/lederer-settles-with-doj-forfeits-millions-89059 http://www.pokerlistings.com/lederer-settles-with-doj-forfeits-millions-89059#comments Law &amp; Business <p>Commenting on the situation <a href="http://www.lvrj.com/news/reid-pulls-the-plug-on-internet-poker-for-this-year-183548271.html">via the Las Vegas Review-Journal</a> over the weekend, Nevada Sen. Harry Reid, who co-authored the current bill regarding online poker with Arizona Sen. John Kyl, said time simply ran out to push the bill through Congress in 2012.</p> <p>"I am disappointed," Reid said, adding that he remains “committed to this issue” and that “it will be a priority for us in the new Congress."</p> <p>Although the Reid/Kyl bill was never officially introduced in Congress, Reid had said enough Republican votes to pass it had been confirmed.</p> <p>Still, added Reid's chief of staff David Krone, it wasn't enough:</p> <p>"It's just, reality hit us in the face," Krone said. "It's a tough bill to educate people on, and people just weren't ready.</p> <p>"I do think there's a lot of people that didn't grasp fully at the time the urgency of getting this done sooner rather than later.</p> <p>"They were never fully prepared for the state lotteries and the states and the tribes that were going to come up and take this on."</p> <p>A draft of the current bill, which legalized online poker but declared other forms of online gambling off limits, leaked out in September and caused a new wave of unrest among State Lottery interests and church groups, which set momentum back.</p> <p>The next Congressional session is scheduled for January 2013, although Krone isn't convinced the current bill will still be a viable option:</p> <p>"Our goal is to definitely try again next year, but Senator Reid's feeling is that after a while there comes a time when you've lost momentum, you've lost the consensus that you've built.</p> <p>“There will be a window next year, but I don't see it going long."</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 17 Dec 2012 09:37:04 -0800 http://www.pokerlistings.com/window-closes-on-us-online-poker-bill-in-2012-94008 http://www.pokerlistings.com/window-closes-on-us-online-poker-bill-in-2012-94008 http://www.pokerlistings.com/window-closes-on-us-online-poker-bill-in-2012-94008#comments Law &amp; Business <p>The collaboration is already underway in terms of development and marketing, the companies say, and the first product will be rolled out in early 2013.</p> <h3>Gaming is An "Ideal Fit"</h3> <p>“The Playboy lifestyle is about indulging our passions,” said Scott Flanders, CEO of Playboy Enterprises, “and we are focused on bringing content, products and experiences to consumers around the globe that define this lifestyle.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/chris-moneymaker-1731.jpg"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-chris-moneymaker-1731.jpg" alt="Chris Moneymaker" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Moneymaker: Friend of bunnies.</div> <div class="image-osd-background"> </div> </div> </div> <p>“Gaming is an ideal fit with our strategy and we’re delighted to partner with Amaya on this project, combining a leading global brand with a strong technology partner to offer what we believe will be exciting online gaming experiences.”</p> <p>David Baazov, CEO of Amaya, echoed that sentiment.</p> <p>“We are extremely pleased that Playboy has chosen Amaya to help with their online strategy for both poker and lottery.</p> <p>“With its tremendous online audience and boasting one of the highest unaided global awareness and social media user engagements of any brand, we’re confident that our collaboration with Playboy will be a recipe for success and look forward to guiding them in their online endeavors.”</p> <p>The initial rollout, the companies say, will only target “selected territories where permitted around the world.”</p> <p>Playboy previously offered online poker from 2007-2009 via the Cryptologic network, which Amaya has now absorbed.</p> <p>Among its other previous poker offerings was the five-day Playboy Poker Camp, featuring instruction from Chris Moneymaker, David Williams, Antonio Esfandiari, Phil Laak and Layne Flack.</p> <p>Due to <a href="http://www.pokerlistings.com/black-friday-history-week-how-the-uigea-changed-everything">the constraints of the UIGEA</a>, Playboy closed down its online gaming operations in 2009.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 14 Dec 2012 08:09:01 -0800 http://www.pokerlistings.com/playboy-brand-returning-to-online-poker-in-2013-92318 http://www.pokerlistings.com/playboy-brand-returning-to-online-poker-in-2013-92318 http://www.pokerlistings.com/playboy-brand-returning-to-online-poker-in-2013-92318#comments Law &amp; Business <p>The rumored purchased price is around $50 million for the struggling brick-and-mortar casino.</p> <p>The acquisition of a land-based casino in New Jersey would put PokerStars back on the inside track for offering online poker to New Jersey residents should the state's current push for an online poker bill go through.</p> <p>Given PokerStars' recent deal with the US Department of Justice, should legislation be passed it would be eligible to apply for a real-money online poker license in the state.</p> <p>An online poker bill is currently on the table in the New Jersey House and Senate with a vote expected to take place before the New Year.</p> <p>The Atlantic Club was built by Steve Wynn in the early 80s and was called the Golden Nugget.</p> <p>It has since changed hands and names several times before being rebranded as the Atlantic Club this year.</p> <p>PokerStars also has a share in the Hippodrome Casino in London and plans to open a PokerStars-branded poker room there in 2013.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 07 Dec 2012 07:42:48 -0800 http://www.pokerlistings.com/pokerstars-in-talks-to-buy-atlantic-city-casino-99111 http://www.pokerlistings.com/pokerstars-in-talks-to-buy-atlantic-city-casino-99111 http://www.pokerlistings.com/pokerstars-in-talks-to-buy-atlantic-city-casino-99111#comments Law &amp; Business <p>As part of the settlement Furst contends he was unaware of any wrongful activity of Full Tilt Poker, specifically that the company did not have player balances, and admitted no wrongdoing in the matter. </p> <p>As a further penalty Furst can no longer receive money from any online gambling businesses in the United States until, and if, such activities are legal and regulated in the country.</p> <p>Furst was one of the surprise inclusions in the <a target="_blank" href="http://www.pokerlistings.com/breaking-doj-calls-full-tilt-ponzi-scheme-claims-owners-defrauded-players-46671">civil complaint</a> filed against Howard Lederer, Chris Ferguson and Ray Bitar last year. Furst immediately responded to the allegations in an <a target="_blank" href="http://www.pokerlistings.com/rafe-furst-responds-with-open-letter-regarding-full-tilt-charges-25860">open letter</a>.</p> <p>The original complaint was seeking $11.7 million from Furst on grounds of fraud and money laundering.</p> <p>They money taken from Furst is going to be added to the funds available for remission to U.S. players, although there is already enough money to cover player balances from the <a target="_blank" href="http://www.pokerlistings.com/pokerstars-settles-with-doj-acquires-full-tilt-poker-95329">PokerStars settlement</a> earlier this year.</p> <p>Before <a target="_blank" href="http://www.pokerlistings.com/pokerstars-full-tilt-absolute-poker-founders-indicted-48064">Black Friday</a>, Furst was a sponsored pro on Full Tilt Poker who won a WSOP bracelet in 2006.</p> <h3>Lederer, Bitar and Ferguson Cases Still Ongoing</h3> <p>Howard Lederer, Ray Bitar and Chris Ferguson have yet to settle their cases and the government is seeking considerably more from them with $42.5 million from Lederer, $40 million from Ferguson and $40 million from Bitar.</p> <p>Lederer asked the <a target="_blank" href="http://www.pokerlistings.com/howard-lederer-asks-court-to-dismiss-all-charges-49729">court to dismiss all charges</a> earlier this month using the "skill game" argument from the <a target="_blank" href="http://www.pokerlistings.com/ny-federal-judge-declares-poker-game-of-skill-53681">DeCristina ruling</a>. Ferguson later joined Lederer's motion to dismiss all charges.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 29 Nov 2012 07:02:28 -0800 http://www.pokerlistings.com/ftps-rafe-furst-settles-with-doj-over-black-friday-case-56480 http://www.pokerlistings.com/ftps-rafe-furst-settles-with-doj-over-black-friday-case-56480 http://www.pokerlistings.com/ftps-rafe-furst-settles-with-doj-over-black-friday-case-56480#comments Law &amp; Business <p>According to the <a target="_blank" href="http://www.justice.gov/usao/nys/vw_cases/pokerstars.html">news release</a>, the DOJ is currently evaluating applicants for an independent Claims Administer, who will handle petitions for FTP balances.</p> <p>The DOJ has been searching for a <a href="http://www.pokerlistings.com/doj-seeks-independent-claims-administrator-for-full-tilt-settlement-25915">Claims Administrator since August</a> but yesterday’s update said they plan to have the position filled by January.</p> <p>It’s the first public statement the DOJ has made on the issue since this summer.</p> <p>It’s been an excruciating journey for U.S. Full Tilt Poker players. Their account balances have been frozen since <a target="_blank" href="http://www.pokerlistings.com/pokerstars-full-tilt-absolute-poker-founders-indicted-48064">Black Friday</a> hit on April 15 of 2011.</p> <p>This summer PokerStars settled with the DOJ and took the remaining Full Tilt assets. As part of the agreement PokerStars would repay the rest-of-the-world Full Tilt players while the DOJ would handle the United States. U.S. players were hopeful for a quick resolution but that hasn’t been the case.</p> <p>It got even more frustrating when earlier this month PokerStars successfully re-launched Full Tilt in the rest of the world and gave non-U.S. players access to their balances.</p> <p>To learn more be sure to take a look at our <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday bulletin board</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 21 Nov 2012 07:40:06 -0800 http://www.pokerlistings.com/doj-update-on-u-s-full-tilt-poker-remissions-97701 http://www.pokerlistings.com/doj-update-on-u-s-full-tilt-poker-remissions-97701 http://www.pokerlistings.com/doj-update-on-u-s-full-tilt-poker-remissions-97701#comments Law &amp; Business <p>According to court documents obtained by the <a target="_blank" href="http://onlinepokerreport.com/5358/howard-lederer-files-motion-to-dismiss-all-charges/">Online Poker Report</a>, Lederer’s attorney’s filed the paperwork late last night.</p> <p>The motion asks for the court to dismiss the entire $42.5 million claim against Lederer.</p> <p>Lederer initially filed to dismiss the charges against him in August of this year but had to re-file because the government <a target="_blank" href="http://www.pokerlistings.com/doj-complaint-seeks-137m-from-lederer-ftp-board-77703">amended its case against Lederer in September</a> to target the former Full Tilt head’s considerable assets.</p> <p>One of the key arguments of the motion is that Full Tilt Poker is not a “gambling business” thanks to the recent DeCristina ruling that <a target="_blank" href="http://www.pokerlistings.com/ny-federal-judge-declares-poker-game-of-skill-53681">declared poker a skill game</a>. Therefore Full Tilt Poker was not in violation of the Illegal Gambling Business Act.</p> <p>Interestingly a supplemental claim lists Lederer’s assets and he apparently owns four Audis and a 2010 “1965” Shelby Cobra. The 2008 Maserati GranTurismo that was mentioned in the updated case against Lederer was not listed.</p> <p>You can read the entire motion to dismiss <a target="_blank" href="http://onlinepokerreport.com/5358/howard-lederer-files-motion-to-dismiss-all-charges/">here</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 16 Nov 2012 08:31:09 -0800 http://www.pokerlistings.com/howard-lederer-asks-court-to-dismiss-all-charges-49729 http://www.pokerlistings.com/howard-lederer-asks-court-to-dismiss-all-charges-49729 http://www.pokerlistings.com/howard-lederer-asks-court-to-dismiss-all-charges-49729#comments Law &amp; Business <p>Releasing a statement after his meeting with the DOJ’s Asset Forfeiture and Money Laundering division, Pappas said while the meeting was “cordial and productive,” little progress has been made in moving the remission process for players forward.</p> <p>“Unfortunately, completion of a refund claims process is a long way away,” Pappas writes.</p> <p>“The first step in this process will be the Department’s hiring of a third-party claims administrator, after a bidding process: there is no current date certain for that selection to occur.</p> <p>“But it was evident that even when a claims administrator is hired, forfeiture and remission procedures require that a substantial administrative process be adhered to before players begin seeing their funds.”</p> <p>What that truly means for players, however, is debatable. The DOJ has already put out a request for information to solicit a claims administrator but that process essentially takes an undetermined amount of time.</p> <div class="image-container image-landscape-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/john-pappas-20306.jpg"><img class="image-position image-landscape-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage320180-john-pappas-20306.jpg" alt="John Pappas" width="320" height="180"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">John Pappas, Executive Director of the PPA</div> <div class="image-osd-background"> </div> </div> </div> <p>The PPA is also not an “official” player in the remission process by any means so its presence/possible contribution is uncertain.</p> <p>Still, Pappas says the PPA legal team is “already working on specific methods” to further the objective of “getting the process moving as soon as possible.”</p> <p>Overall Pappas said the meeting was beneficial in reaffirming that “100 percent of player account balances be made available to players through the remission process.”</p> <p>In the end, though, he said it “was clear from our discussion that no decisions have been made at the DoJ regarding the manner of repayment of player balances.”</p> <p>Read the full statement from Pappas <a href="http://theppa.org/newsletters/2012/11/13/weekly-update-status-of-full-tilt-poker-balance-remission-upcoming-town-hall-meeting-11142012/">here</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 13 Nov 2012 17:12:24 -0800 http://www.pokerlistings.com/ppa-meets-doj-says-full-tilt-repayment-long-way-away-13234 http://www.pokerlistings.com/ppa-meets-doj-says-full-tilt-repayment-long-way-away-13234 http://www.pokerlistings.com/ppa-meets-doj-says-full-tilt-repayment-long-way-away-13234#comments Law &amp; Business <p>Zynga, with the assistance of bwin.party, plans to launch a real-money games service in the first half of 2013 with poker and over 180 casino games.</p> <p>"Bringing together Zynga's expertise in social gaming with the top international real money gaming operator is the best way to create the highest quality gaming experiences for our players in the UK," said Barry Cottle, executive VP, corporate and business development, Zynga.</p> <p>Apparently Zynga’s real-money U.K. players will have access to bwin.party’s player pool meaning there will instantly be thousands of players on the secure network.</p> <p>In addition Zynga’s U.K.-based real-money games service will operate under bwin.party’s Gibralter gaming license. bwin.party operates <a target="_blank" href="http://www.pokerlistings.com/party-poker">Party Poker</a> and <a target="_blank" href="http://www.pokerlistings.com/bwin-poker">bwin Poker</a>.</p> <h3>Important Step for Embattled Zynga</h3> <p>Moving to real-money games is potentially a huge move for Zynga as the company’s stock has been hitting record lows over the last few weeks as its free-to-play business model has been called into question.</p> <p>The very first game Zynga ever developed was the wildly popular Texas Hold’Em Poker (now just called Zynga Poker). It still has hundreds of thousands of daily users.</p> <p>Earlier this year Zynga CEO Mark Pincus called <a target="_blank" href="http://www.pokerlistings.com/zynga-looks-to-acquire-real-money-poker-software-76668">real-money gambling a natural fit</a> for a social games company.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 24 Oct 2012 14:42:27 -0700 http://www.pokerlistings.com/zynga-bwin-party-join-forces-to-offer-real-money-poker-in-u-k-26446 http://www.pokerlistings.com/zynga-bwin-party-join-forces-to-offer-real-money-poker-in-u-k-26446 http://www.pokerlistings.com/zynga-bwin-party-join-forces-to-offer-real-money-poker-in-u-k-26446#comments Law &amp; Business <p>The “World’s Biggest Online Poker Room” just ran another edition of its hugely successful WCOOP, the European Poker Tour is in full swing and this week the company even acquired a <a target="_blank" href="http://www.pokerlistings.com/breaking-doj-calls-full-tilt-ponzi-scheme-claims-owners-defrauded-players-46671">stake in London’s Hippodrome Casino</a> meaning there could potentially be a live PokerStars poker room in the future.</p> <p>This November marks a dramatic shift for PokerStars, however.</p> <p>The company’s biggest competitor – Full Tilt Poker – will return, under very different circumstances than when the <a target="_blank" href="http://www.pokerlistings.com/breaking-doj-calls-full-tilt-ponzi-scheme-claims-owners-defrauded-players-46671">lights went out in 2011</a>.</p> <p>For the first time ever, <a target="_blank" href="http://www.pokerlistings.com/poker-stars">PokerStars</a> will be competing with itself, thanks to parent company Rational Enterprises reaching a deal to acquire FTP earlier this year.</p> <p>Eric Hollreiser, Head of Corporate Communications for PokerStars and Full Tilt Poker took the time to answer a number of questions about what the future holds for PokerStars.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/erichollreiser.JPG"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-erichollreiser.JPG" alt="erichollreiser" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Eric Hollreiser</div> <div class="image-osd-background"> </div> </div> </div> <p>PokerListings.com: What’s changed at the PokerStars office since the Full Tilt acquisition and the settlement with the U.S. DOJ?</p> <p>Eric Hollreiser: Our offices are as busy as ever. Obviously we were all very excited and proud when the settlement was completed. </p> <p>PL.com: How long was that deal in the works?</p> <p>I can’t get into any specifics, but suffice to say that this was a very complex, perhaps unprecedented event. As such, it didn’t happen over-night.</p> <p>PL.com: When Full Tilt Poker launches on Nov. 6, won’t PokerStars essentially be competing against itself?</p> <p>There’s obviously plenty of room for competition in online poker. We know that many players enjoy playing on more than one site.  We believe that offering a choice of high-quality, trusted brands promoting poker and innovating on the game will help to grow the overall poker market. Having a multi-brand portfolio is common in many industries from automakers to restaurants to media companies to gaming.</p> <p>PL.com: It seemed very important to the company that PokerStars did not admit any wrongdoing as part of the settlement. Can you talk a little bit about why that was such a big deal to PokerStars?</p> <p>PokerStars has always acted responsibly and within the law and we’ve made decisions based upon the legal advice we have been receiving. So naturally it was important for us that we did not admit to any wrongdoing.</p> <p>We chose to settle because wanted to get this behind us, move on and focus on expanding our business without constraint and without distraction. The alternative was to engage in multi-year litigation which we felt was not the best option.</p> <p>PL.com: The <a target="_blank" href="http://www.pokerstarsblog.com/news/corporate-blog/">corporate blog</a> is an interesting idea for an online poker site. How much are you allowed to share on it?</p> <p>As much as I can get time to update it. The corporate blog is a good platform for us to share news, information and perspectives in an immediate way and the industry has been very appreciative of our openness. It’s still evolving and finding the appropriate voice and subject matter. </p> <p>PL.com: Viktor Blom’s departure from PokerStars seemed sudden. Would the company ever have him on the team again?</p> <p>Viktor is a great guy and an exciting player. I’m sure our paths will continue to cross in the future, so who knows?</p> <p>PL.com: There has been speculation the U.S. government will just reimburse U.S. FTP players’ original deposit, not winnings. Can PokerStars comment on this at all?</p> <p>I really do not have any visibility into the remission process being conducted by the U.S. Government.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 09 Oct 2012 11:49:52 -0700 http://www.pokerlistings.com/pokerstars-q-a-hello-ftop-goodbye-viktor-blom-92622 http://www.pokerlistings.com/pokerstars-q-a-hello-ftop-goodbye-viktor-blom-92622 http://www.pokerlistings.com/pokerstars-q-a-hello-ftop-goodbye-viktor-blom-92622#comments Law &amp; Business <p>Sending out an email to its players and a press release about the license, Full Tilt emphasized in both that player account balances are safe and secure on the site and that it will re-launch as planned on Nov. 6, 2012.</p> <p>In the coming weeks the site will be restoring all non-U.S. accounts in preparation for re-launch day.</p> <p>That means, as of Nov. 6, players will receive normal access to their Full Tilt player accounts with their most current password.</p> <p>Once <a target="_blank" href="http://www.pokerlistings.com/deadline-for-full-tilt-poker-re-launch-set-for-november-6-99714">Full Tilt Poker re-launches</a> players will once again have access to all real-money and play-money games.</p> <p>Perhaps most importantly players will once again have complete control over their account balances including withdrawals.</p> <h3>Full Tilt Online Poker Series Resurrected in December</h3> <p>Also announced was the return of the popular Full Tilt Online Poker Series.</p> <p>FTOPS XXI will begin Dec. 2, and although no specific events have been announced the series typically offers a wide range of poker variants with a number of different buy-in levels.</p> <p>U.S. poker players unfortunately are still restricted from taking part and are still awaiting news on their account balances.</p> <p>The U.S. Department of Justice is responsible for returning funds to players in the U.S. and, outside of hiring a third-party consultant to handle remissions, has been fairly quiet on the situation.</p> <p>For more information be sure to check our <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday bulletin board</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 09 Oct 2012 08:30:36 -0700 http://www.pokerlistings.com/full-tilt-grabs-isle-of-man-license-ftops-to-run-dec-2-16-10205 http://www.pokerlistings.com/full-tilt-grabs-isle-of-man-license-ftops-to-run-dec-2-16-10205 http://www.pokerlistings.com/full-tilt-grabs-isle-of-man-license-ftops-to-run-dec-2-16-10205#comments Law &amp; Business <p>The online gaming giant is still moving forward with its plans to have FullTiltPoker.com operational by the first week of November.</p> <p><a target="_blank" href="http://www.pokerlistings.com/poker-stars">PokerStars</a> has also been working with various regulators in relevant jurisdictions to ensure that repayment is in compliance with local laws.</p> <p>In some countries players will have to be repaid through the locally-licensed PokerStars client because Full Tilt Poker is no longer allowed.</p> <p>There will essentially be three different plans depending on what country the player resides in:</p> Spain, France, Denmark, Estonia, Belgium: all players in the aforementioned countries will be repaid through the locally-licensed PokerStars platform. Players will have the ability to “pair” their Full Tilt account with their PokerStars account to ensure payment. Italy: PokerStars is still working with local regulators to figure out a process that would be in compliance with local laws. Rest of the World (except the U.S.): Full Tilt Poker players will have full access to their accounts when <a href="http://www.fulltiltpoker.com">www.fulltiltpoker.com</a> re-launches in early November. <p>Meanwhile the U.S. Department of Justice is responsible for returning funds to U.S. players and they’ve yet to set a hard date on when players should expect their account balances.</p> <p>The DOJ has <a target="_blank" href="http://www.pokerlistings.com/doj-seeks-independent-claims-administrator-for-full-tilt-settlement-25915">outsourced the work to a third-party company</a> to handle the remissions.</p> <p>For a very comprehensive look at the Full Tilt Poker saga be sure to check out our <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin board</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 24 Sep 2012 12:48:28 -0700 http://www.pokerlistings.com/pokerstars-reveals-plan-for-full-tilt-row-payments-17294 http://www.pokerlistings.com/pokerstars-reveals-plan-for-full-tilt-row-payments-17294 http://www.pokerlistings.com/pokerstars-reveals-plan-for-full-tilt-row-payments-17294#comments Law &amp; Business <p>Burtnick, a 41-year-old from Vancouver, Canada, could face up to 15 years in prison.</p> <p>Burtnick admitted to deceiving banks in order to circumvent the<a target="_blank" href="http://www.pokerlistings.com/black-friday-history-week-how-the-uigea-changed-everything"> Unlawful Internet Gaming Enforcement Act</a> and facilitate payments between American poker players and Full Tilt Poker.</p> <p>He went on to say that the deception was necessary because the banks would have refused to process online gambling payments post-UIGEA.</p> <h3>Burtnick Knew What He Did Was Wrong</h3> <p>Prosecutors allege that the crimes took place between 2006 and 2011 while Burtnick worked for PokerStars and later Full Tilt Poker.</p> <p>“We had to do this type of deception to enable U.S. poker players to load their accounts with funds,” Burtnick said in court. “I know that what I did was wrong.”</p> <p>Burtnick will face sentencing by US District Judge Lewis Kaplan on December 19.</p> <p>The plea agreement calls for Burtnick to forfeit all money generated by the crimes and pay restitution in an amount to be determined.</p> <p>Burtnick was one of almost a dozen individuals charged by the US Department of Justice on April 15, 2011. A number of those individuals have already pled guilty.</p> <p>To stay up to date on all the latest US online poker news, keep an eye on our <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board</a><a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 19 Sep 2012 15:20:00 -0700 http://www.pokerlistings.com/full-tilt-payment-processor-burtnick-pleads-guilty-46976 http://www.pokerlistings.com/full-tilt-payment-processor-burtnick-pleads-guilty-46976 http://www.pokerlistings.com/full-tilt-payment-processor-burtnick-pleads-guilty-46976#comments Law &amp; Business <p>The news first came to light on poker forum 2+2 when users began reporting emails from FTP, requesting documents and information to verify their identities.</p> <p>Shyam Markus, who has been representing FTP on the forum, <a href="https://twitter.com/FTPMarkus/status/246260821984960512">quickly tweeted that the emails are indeed legitimate</a> but have only been sent out to a small group of FTP players.</p> <p>The email reads:</p> <p>As you are aware, Full Tilt Poker is preparing to re-launch by November 6th, 2012. Action Required: You will need to verify your identity to access your account.* In the interest of account security and in accordance with the anticipated Isle of Man regulatory requirements, you are required to verify your identity. Providing valid documentation now will ensure that your account is fully verified and active upon re-launch. Once relaunch and system testing has completed, you will have unrestricted access to your Full Tilt Poker account, including all cashier functionality and poker games. Please reply to this email, attaching the following documents:</p> <p>This news further strengthens the hope that <a target="_blank" href="http://www.pokerlistings.com/deadline-for-full-tilt-poker-re-launch-set-for-november-6-99714">PokerStars.com’s acquisition and re-launch of the FTP brand</a> is going according to plan.</p> <p>An estimated $300 million in player funds has been locked up on Full Tilt Poker since Black Friday, a sum PokerStars has agreed to cover in its recent deal with the US Department of Justice.</p> <p>The plan calls for non-US players to gain access to their Full Tilt Poker accounts no later than November 6, while Americans will have to go through the DOJ to recover their funds.</p> <p>Stay up to date with Full Tilt Poker news with PokerListings.com's <a target="_blank" href="http://www.pokerlistings.com/deadline-for-full-tilt-poker-re-launch-set-for-november-6-99714">Black Friday Bulletin Board.</a></p> <p><a href="https://plus.google.com/104078440048835204924" rel="me" target="_blank">Follow the author on Google+</a></p> <p><a target="_blank" href="https://twitter.com/mattshowell">Follow the author on Twitter</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 13 Sep 2012 09:50:00 -0700 http://www.pokerlistings.com/full-tilt-emails-players-to-prep-for-nov-6-re-launch-51711 http://www.pokerlistings.com/full-tilt-emails-players-to-prep-for-nov-6-re-launch-51711 http://www.pokerlistings.com/full-tilt-emails-players-to-prep-for-nov-6-re-launch-51711#comments Law &amp; Business <p><a target="_blank" href="http://docs.justia.com/cases/federal/district-courts/new-york/nysdce/1:2011cv02564/377900/264/">The Second Amended Complaint</a> explains in detail the financial history of roughly $137 million in distributions paid to the four Full Tilt Poker owners.</p> <p>Citing a slew of statutes including the Wire Act, The Illegal Gambling Business Act and now the Travel Act, the DOJ is calling the distributions proceeds of an illegal enterprise and therefore subject to forfeiture.</p> <p>"There is probable cause to believe that the Defendant Properties constitute, or are traceable to property used in illegal gambling businesses," states the new complaint.</p> <p>According to the amended complaint the DOJ will be seeking forfeitures in the amounts of:</p> $42.5 million from Howard Lederer $42 million from Chris Ferguson $40.8 million from Ray Bitar $11.7 million from Rafe Furst <p>The complaint goes on to provide details on how Howard Lederer and Ray Bitar spent that money in the roughly four and half years leading up to Black Friday.</p> <h3>Lederer Allegedly Funded Personal Accounts with FTP Funds</h3> <p>According to the DOJ, Howard Lederer used the distributions from Full Tilt Poker to fund his personal accounts, retirement funds, mortgage payments and the purchase of a number of properties and automobiles.</p> <p>The list of vehicles included a Maserati, four Audis and a 1965 Shelby Cobra.</p> <p>While the amendment attributed two homes in Glendora, California to Ray Bitar’s FTP distributions, it failed to go into detail in regards to Chris Ferguson and Rafe Furst.</p> <p>The Department of Justice complaint goes on to list 11 additional "Claims for Relief" to justify the forfeitures. The claims allege that FTP committed a long list of violations including illegal gambling, bank adn wire fraud, money laundering, conspiracy and travel offenses.</p> <p>Stay up to date with the latest news on Full Tilt Poker with our <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 11 Sep 2012 12:45:00 -0700 http://www.pokerlistings.com/doj-complaint-seeks-137m-from-lederer-ftp-board-77703 http://www.pokerlistings.com/doj-complaint-seeks-137m-from-lederer-ftp-board-77703 http://www.pokerlistings.com/doj-complaint-seeks-137m-from-lederer-ftp-board-77703#comments Law &amp; Business <p>Following in the footsteps of Rush Poker on Full Tilt and Zoom Poker on PokerStars, PartyPoker now joins the growing group of operators boasting their own brand of speed poker.</p> <p>By giving players the option to fold instantly and be moved to a new table, FastForward Poker promises four times as many hands as traditional poker. FastForward Poker is currently available at stakes from $0.02/$0.04 to $0.25/$0.50 at both six-max and heads-up tables.</p> <p>“FastForward Poker is here to stay!” announced PartyPoker in a <a href="http://www.partypoker.com/blog/news/fastfoward.html">blog post</a> on September 3rd.</p> <p>“Thursday the 6th of September will be a day long remembered as we’ll be taking down that old beta sign and putting it back into PartyPoker storage ready for our next fantastic idea."</p> <h3>A Four-Part Plan to Return PartyPoker to Growth</h3> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/Jim-Ryan.jpg"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-Jim-Ryan.jpg" alt="Jim Ryan" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">bwin.party CEO Jim Ryan.</div> <div class="image-osd-background"> </div> </div> </div> <p>Speed poker has exploded in popularity since Full Tilt’s first-to-market product went live in early 2010 and bwin.party is banking on that popularity to help turn around PartyPoker losses reflected in their recent <a href="http://www.bwinparty.com/%7E/media/Files/CorpWeb/Investors/2012%20Press%20Releases/120831%202012%20Half%20Year%20Results.ashx">2012 half-year report.</a></p> <p>“Poker is a key area of focus and we are determined to return it to growth through execution of a detailed plan that includes pooling our poker liquidity as well as repositioning our flagship PartyPoker brand,” said the report.</p> <p>“We expect both initiatives to have a positive impact on our performance, along with our recently launched FastForward Poker product,” it continued.</p> <p>bwin.party co-CEOs Jim Ryan and Norbert Teufelberger described the company’s four-part plan in more detail in <a href="bwinparty.tamarinduk.com">an interview</a> late last month.</p> <p>“So I mentioned the four-point plan,” said Ryan. “And quickly, again, that’s improving the poker ecology, innovating the poker product, integrating our poker networks, and then re-launching the PartyPoker brand.”</p> <p>Ryan went on to categorize FastForward Poker as a key part of the innovation included in that plan, which will culminate with a full product relaunch next year.</p> <p>To learn more about FastForward Poker and PartyPoker read our <a target="_blank" href="http://www.pokerlistings.com/party-poker">comprehensive room review and best PartyPoker signup bonus.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 05 Sep 2012 12:00:00 -0700 http://www.pokerlistings.com/fastforward-poker-key-in-bwin-party-s-new-four-part-plan-53806 http://www.pokerlistings.com/fastforward-poker-key-in-bwin-party-s-new-four-part-plan-53806 http://www.pokerlistings.com/fastforward-poker-key-in-bwin-party-s-new-four-part-plan-53806#comments Law &amp; Business <p>Earlier this month NY federal judge <a target="_blank" href="http://www.pokerlistings.com/ny-federal-judge-declares-poker-game-of-skill-53681">Jack Weinstein overturned an indictment</a> against Lawrence Dicristina for running a poker game and declared poker exempt from the Illegal Gambling Business Act.</p> <p>If a conference is held the defense will likely make the argument that if poker does not constitute illegal gambling than the charges should be dropped or put on hold.</p> <p>“How the government approaches a potential amended complaint, and how the defendants approach moving for its dismissal, are both matters which can be more efficiently handled if the parties have an opportunity to make the Court aware of their plans and views in light of DiCristina,” an attorney for Lederer wrote in the request.</p> <p>Lederer, Ferguson and Furst, all alleged owners of Full Tilt Poker, were all <a target="_blank" href="http://www.pokerlistings.com/breaking-doj-calls-full-tilt-ponzi-scheme-claims-owners-defrauded-players-46671">named in the amended civil complaint</a> connected to Black Friday.</p> <h3>District Attorney Bahara Wants to Deny Request</h3> <p>The Department of Justice has already moved to dismiss the defense’s request for a conference.</p> <p>U.S. District Attorney Preet Bahara wrote to Judge Leonard Sand to argue that the skill-game ruling does not affect the Lederer case. Bahara has been a central figure in prosecutions against online poker.</p> <p>You can view the complete request from Lederer’s lawyer <a target="_blank" href="http://www.jdsupra.com/legalnews/defense-request-for-status-conference-re-60315/">here</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 31 Aug 2012 08:39:57 -0700 http://www.pokerlistings.com/lederer-full-tilt-owners-ask-judge-to-consider-skill-game-ruling-67289 http://www.pokerlistings.com/lederer-full-tilt-owners-ask-judge-to-consider-skill-game-ruling-67289 http://www.pokerlistings.com/lederer-full-tilt-owners-ask-judge-to-consider-skill-game-ruling-67289#comments Law &amp; Business <p>Presiding over the case of Lawrence Dicristina, arrested and charged last year for running poker games out of a warehouse in Staten Island, Judge Jack Weinstein overturned the indictment and declared poker exempt from the Illegal Gambling Business Act.</p> <p>Drawing up what one lawyer called  "the most thorough and detailed poker ruling he had seen by a U.S. court," Weinstein's 120-page report clearly distinguishes between poker and games of chance when it comes to the law.</p> <p>"In poker increased proficiency boosts a player's chance of winning and affects the outcome of individual hands as well as a series of hands," the report says.</p> <p>"Expert poker players draw on an array of talents, including facility with numbers, knowledge of human psychology, and powers of observation and deception."</p> <h3>Positive History of Poker in the US</h3> <p>Weinstein in particular drew on a recent study of 103 million Texas Hold'em hands that showed 75% of hands were won without showdown, proving the dominance of skill.</p> <p>He also traced the varied and positive history of poker in the US to show its general perception in the eyes of Congress.</p> <p>While Weinstein said federal prosecutors can still target underground games run by organized crime, and that individual states can still ban poker under their own laws, the ruling is expected to help clear the way for impending legalization of online poker in the US.</p> <p>More on today's ruling from the <a href="http://www.nytimes.com/2012/08/22/nyregion/poker-is-more-a-game-of-skill-than-of-chance-a-judge-rules.html">New York Times here</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 21 Aug 2012 16:10:44 -0700 http://www.pokerlistings.com/ny-federal-judge-declares-poker-game-of-skill-53681 http://www.pokerlistings.com/ny-federal-judge-declares-poker-game-of-skill-53681 http://www.pokerlistings.com/ny-federal-judge-declares-poker-game-of-skill-53681#comments Law &amp; Business <p>It’s likely a positive step for U.S. Full Tilt Poker players who still have money frozen on the site.</p> <p>The Claims Administrator will be in charge of analyzing data from claims by U.S. Full Tilt players and digging into the user accounts from the FTP software.</p> <p>Applicants must list any prior experience or relation with Full Tilt Poker, <a href="javascript:mctmp(0);">PokerStars</a>, Absolute Poker or any other gambling or poker company.</p> <p>Here’s the complete application as seen on the DOJ website:</p> <p>Claims Administrator—Full Tilt Poker
The Government is soliciting applications from qualified persons to serve, pursuant to 28 C.F.R. §9.9(c), as Claims Administrator in connection with the remission to U.S. victims of funds forfeited via court-approved settlements in United States v. Pokerstars et al., 11 Civ. 2564 (LBS). At present the Government estimates there are approximately 1.3 million potential U.S. victims, and that approximately $159 million of forfeited funds (less expenses of administration) is immediately available for distribution via the remission process. In consultation with the United States Attorney’s Office for the Southern District of New York and the Asset Forfeiture and Money Laundering Section of the United States Department of Justice, the Claims Administrator will design and execute a process to solicit, receive and evaluate claims, and to process payments, for losses incurred by U.S. victims that are attributable to the fraud alleged in the above complaint. In so doing the Claims Administrator will obtain and evaluate information, such as financial transaction records, from claimants, and analyze information contained in user account records provided in database and other format by Full Tilt Poker. Interested parties may submit an Application by August 31, 2012, to Sharon Levin, Chief of the Asset Forfeiture Unit of the United States Attorney’s Office for the Southern District of New York, at Sharon.Levin@usdoj.gov.</p> <p>You can view the <a href="javascript:mctmp(0);">application here on the </a><a target="_blank" href="http://www.justice.gov/usao/nys/employmentmra.html">www.justice.gov</a><a href="javascript:mctmp(0);"> website</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 14 Aug 2012 11:26:56 -0700 http://www.pokerlistings.com/doj-seeks-independent-claims-administrator-for-full-tilt-settlement-25915 http://www.pokerlistings.com/doj-seeks-independent-claims-administrator-for-full-tilt-settlement-25915 http://www.pokerlistings.com/doj-seeks-independent-claims-administrator-for-full-tilt-settlement-25915#comments Law &amp; Business <p>For US poker players that deadline falls on the day of the next presidential election.</p> <p>So while they’re busy casting their vote for the person who may one day sign online poker regulation into law, the rest of the world will once again be playing on Full Tilt Poker.</p> <p>For players with money stuck on Full Tilt Poker it’s been a long and uncertain 15 months, but today’s announcement represents another big step towards a resolution and the return of more than $300 million in player funds.</p> <p>Jones, who served as Cardroom Manager at PokerStars from 2003 to 2007 and returned to the company in May of 2011 to head up their new Home Games project, had this to say in <a href="http://forumserver.twoplustwo.com/29/news-views-gossip/official-pokerstars-announcement-regarding-ftp-doj-see-1st-post-b4-asking-new-questions-1228781">a thread on Two Plus Two:</a></p> <p>Today Jones wrote:</p> <p>Hi folks - We're delighted to announce that we have officially closed our deal with the U.S. DoJ as of today, August 9th. 90 days from today is November 6th (yes, U.S. election day). Full Tilt Poker will be live no later than that day. Best regards, Lee Jones</p> <p>Jones’ is the first confirmation that the deal is officially finalized, which starts the clock on the 90 days PokerStars has to re-launch Full Tilt Poker and give non-US players access to their accounts.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/international-man-of-mystery-lee-jones-18194.jpg"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-international-man-of-mystery-lee-jones-18194.jpg" alt="International Man of Mystery Lee Jones" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Lee Jones has immense credibility in the poker community.</div> <div class="image-osd-background"> </div> </div> </div> <p>While players from the rest of the world will be able to play with their money on the new Full Tilt Poker, or cash out immediately, Americans will have neither option.</p> <p>More and more information is coming to light about <a href="http://www.pokerlistings.com/how-u-s-full-tilt-poker-players-will-be-paid-21940">how US players will get their money back from Full Tilt Poker</a>, and a lot of it is coming by way of another thread on Two Plus Two.</p> <h3>FTPDoug Returns to Answer Full Tilt Re-Launch Questions</h3> <p>Picking up where Lee Jones left off is a man named Shyam Markus, an employee of Full Tilt Poker since 2005.</p> <p>Markus is now the Poker Room Manager at Full Tilt Poker, but most poker players will know him from his previous Two Plus Two account FTPDoug.</p> <p>The FTPDoug account answered player questions and supplied information on software updates and developments via Two Plus Two in the years leading up to Black Friday.</p> <p>In a <a href="http://forumserver.twoplustwo.com/29/news-views-gossip/official-ftp-pre-relaunch-thread-1232335/">new thread dedicated to the re-launch of Full Tilt Poker</a> Markus identified himself as FTPDoug and proceeded to answer a few of the most common questions about the site’s revival.</p> <p>Here are a few of the most important answers posted so far:</p> FTP will be back up and running no later than November 6 but they will be working hard to get it done sooner, perhaps late October. If you are an American player YOU MUST follow the US Department of justice remission process or you will not receive the money in your Full Tilt Poker account. All screennames will remain the same. FTP is working on setting up a .eu site to cater to European players. All active and outstanding bonus’ will be refunded. The FTP forums will be restored at some point after site is re-launched. <p><a href="https://plus.google.com/104078440048835204924" rel="me" target="_blank">Follow the author on Google+</a></p> <p><a target="_blank" href="https://twitter.com/mattshowell">Follow the author on Twitter</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 09 Aug 2012 09:30:00 -0700 http://www.pokerlistings.com/deadline-for-full-tilt-poker-re-launch-set-for-november-6-99714 http://www.pokerlistings.com/deadline-for-full-tilt-poker-re-launch-set-for-november-6-99714 http://www.pokerlistings.com/deadline-for-full-tilt-poker-re-launch-set-for-november-6-99714#comments Law &amp; Business <p>In this running Q&amp;A compendium we’ll keep track of the situation as it develops to keep you on the cutting edge.</p> <p>Over the next three months hundreds of millions of dollars will be returned to players, and Full Tilt Poker will be up and running for the first time in more than a year.</p> <p>Keep reading to stay up to date on this breaking story and post your own questions in the comments section below.</p> <p>Will players get 100 percent of their Full Tilt Poker money and when will it be available?</p> <p>Everything being said now indicates that players will get 100 per cent of their Full Tilt player balances back but things are more clear for non-US players than Americans.</p> <p>PokerStars has made it clear that they will have Full Tilt Poker up and running within 90 days of their formal acquisition of FTP (which will happen by August 8, 2012), at which point all non-US players will have access to their accounts to play poker and withdraw their money.</p> <div class="image-container image-portrait-size-medium image-position"><a href="http://edge1.pokerlistings.com/assets/photos/IMG2385.JPG" class="lightbox"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-IMG2385.JPG" alt="Tom Dwan" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">As a US player Tom Dwan will get his money back, but he won't be able to play on FTP until online poker is regulated in the US.</div> <div class="image-osd-background"> </div> </div> </div> <p>US players will have to <a href="http://www.pokerlistings.com/how-u-s-full-tilt-poker-players-will-be-paid-21940" target="_blank">file a remission form with the Department of Justice</a> to recover their money. We expect more information about this process to become available soon.</p> <p>What criteria are used to make the distinction between “US players” and “Non-US players”?</p> <p>PokerStars is categorizing players as either “US players” or “Non-US" players based on the approved location of their Full Tilt Poker account on June 29, 2011.</p> <p>Non-US players will have access to their accounts as soon as Full Tilt Poker is up and running.</p> <p>US players will not have access to their accounts until PokerStars/FTP has successfully integrated itself into future regulation in the US.</p> <p>PokerStars has also said they are working on a mechanism whereby US players can check their account balances, since they won't be able to log into their accounts.</p> <p>US players who have moved out of the US since Black Friday will be able to play on Full Tilt but PokerStars has said they are still working out a mechanism to make this possible.</p> <p>Will PokerStars go after the phantom deposits?</p> <p>It’s come to light that in the months leading up to Black Friday that Full Tilt Poker was crediting player accounts with funds but not actually withdrawing the money from players' bank accounts.</p> <p>The phantom deposits are estimated to account for $130 million of the roughly $334 million owed to players.</p> <p>Records of the deposits that were never withdrawn from player bank accounts almost certainly exist, and in the agreement between PokerStars and the DOJ it expressly states that PokerStars will gain the rights to:</p> Accounts receivable or monies owed on date of forfeiture or later All gaming data and history relating to the business, computer records, database, operating reports, and any reconciliation files All present and potential claims against any third party <p>While PokerStars may have the ability to go after those funds, the logistics of actually recovering the money could prove too complicated.</p> <p>What will happen with other outstanding debts to Full Tilt Poker, such as the money owed by Barry Greenstein, Phil Ivey and a number of other former FTP pros?</p> <div class="image-container image-portrait-size-medium image-position-alt"><a href="http://edge1.pokerlistings.com/assets/photos/IMG4602.JPG" class="lightbox"><img class="image-position-alt image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-IMG4602.JPG" alt="Barry Greenstein" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Barry Greenstein is setting an example by paying his FTP debt directly to PokerStars.</div> <div class="image-osd-background"> </div> </div> </div> <p>In the aftermath of Black Friday it became known that a number of pro poker players owed Full Tilt Poker money for previous loans from the site.</p> <p>That list includes Barry Greenstein, Erick Lindgren and Phil Ivey, among others.</p> <p>In <a href="http://www.scribd.com/doc/101713812/PokerStars-Settlement-Order">the settlement order between PokerStars and the DOJ</a> we found the following line:</p> <p>Pokerstars company gains the following asset: Debt of professional poker players for repayment of loans previously granted to them as listed in the Excel Workbook entitled "Pro Loans revised - 19th Jul with Ray comments" provided by the Full tilt Group or their representatives to the PokerStars Group's representatives.</p> <p>Barry Greenstein has already <a href="http://forumserver.twoplustwo.com/207/poker-headlines/response-regarding-money-i-barry-greenstein-owe-full-tilt-1162224/index6.html" target="_blank">announced via Two Plus Two</a> that he will be settling his debt directly with PokerStars. It is likely PokerStars will go after other debts as well.</p> <p>What will happen to the remaining indictments against the group of individuals including Isai Scheinberg?</p> <p>Although PokerStars has settled with the Department of Justice, there are still a number of outstanding indictments against individuals involved in running PokerStars, FTP and UB/AP.</p> <p>Eleven individuals were originally charged, three of whom remain at large. Isai Scheinberg and Paul Tate of PokerStars and Scott Tom of Absolute Poker have yet to turn themselves over to US authorities.</p> <p>These indictments remain unresolved but Isai Scheinberg has been barred from managing PokerStars or Full Tilt Poker until his dispute with the DOJ is concluded.</p> <p>A number of those charged have already pled guilty and been sentenced.</p> <p>Payment processor <a href="http://www.pokerlistings.com/daily-3-bet-rubin-sentenced-grinder-reps-ispt-bwin-united-12899">Ira Rubin received three years in jail and paid $5 million</a> while Absolute Poker’s <a href="http://www.pokerlistings.com/absolute-poker-s-brent-beckley-sentenced-to-14-months-45074">Brent Beckley received 14 months.</a></p> <p>Full Tilt CEO Ray Bitar <a href="http://www.pokerlistings.com/fbi-arrests-full-tilt-poker-ceo-ray-bitar-53464">surrendered to US authorities at the beginning of July</a> and Nelson Burtnick, former head of payment processing for Full TIlt, surrendered at the Newark airport July 31 after flying in from Ireland.</p> <p>Both are still to be sentenced.</p> <p>Will the DOJ go after the money paid out to FTP owners while the company was insolvent?</p> <p>In the months leading up to Black Friday shareholders of Full Tilt Poker were still receiving full distributions totaling in the tens of millions of dollars while the company was, for all intents and purposes, insolvent.</p> <p>If the Department of Justice decides that those funds were generated by illegal activities, they would have ample grounds to go after it.</p> <p>Last year hedge fund manager <a href="http://www.pokerlistings.com/shak-advises-innocent-full-tilt-owners-to-make-deal-47960">Dan Shak told us</a> that in these cases, it’s usually best for owners to come forward and work with the DOJ, as opposed to trying to take an adversarial approach.</p> <div class="image-container image-portrait-size-medium image-position"><a href="http://edge1.pokerlistings.com/assets/photos/IMG5970.JPG" class="lightbox"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-IMG5970.JPG" alt="Phil Ivey" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Will we see Phil Ivey repping Full Tilt once more?</div> <div class="image-osd-background"> </div> </div> </div> <p>However, out of the entire group of FTP shareholders the DOJ has only named Howard Lederer and Chris Ferguson in the official charges.</p> <p>How will PokerStars brand the new Full Tilt Poker? Will they re-hire any players who previously endorsed FTP?</p> <p>Judging from the 90-fay timeline and everything PokerStars has said about re-launching Full Tilt Poker it sounds like the site will be back online exactly how it was when it went off-line last summer.</p> <p>PokerStars has said nothing so far about re-branding the site or re-hiring previously sponsored players.</p> <p>What will the rakeback/rewards system be for new site and will previous Full Tilt Poker rewards points be honored?</p> <p>Lee Jones has announced that PokerStars is still deciding what to do about previous FTP rewards points but that they are determined to arrive at a fair and equitable solution.</p> <p>Nothing has been said about what rewards program the new Full Tilt Poker will adopt but many in the poker world are hoping it’s similar to the 27 percent rakeback the site has traditionally used.</p> <p>Will Stars/FTP be successful in getting back into the US market after regulation</p> <p>This is certainly one of the most important questions, and one of the most uncertain.</p> <p>Americans can’t play online poker anywhere and regulation is still having a hard time gaining momentum. And even when online poker becomes regulated, there’s no guarantee that PokerStars or Full Tilt will successfully gain inclusion.</p> <p>The settlement with the DOJ only says they may apply for a license once a regulatory framework is in place. It doesn’t guarantee that a license will be granted.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 01 Aug 2012 15:28:00 -0700 http://www.pokerlistings.com/biggest-unanswered-questions-in-full-tilt-poker-revival-28081 http://www.pokerlistings.com/biggest-unanswered-questions-in-full-tilt-poker-revival-28081 http://www.pokerlistings.com/biggest-unanswered-questions-in-full-tilt-poker-revival-28081#comments Law &amp; Business <p>While PokerStars will handle the balances for players in the rest of the world, the U.S. government will be responsible for getting its citizens paid back.</p> <p>Officially this is what the U.S. government has <a target="_blank" href="http://www.justice.gov/usao/nys/pressreleases/july12/pokersettlement.html">stated on the issue</a>:</p> <p>Under the terms of the settlement with Full Tilt, U.S. victims of the company’s alleged fraud will be able to seek compensation from the Department of Justice (“DOJ”).  The funds that will be used to compensate qualifying victims will come from the $547 million that will be forfeited by PokerStars as part of its settlement with the Government. </p> <p>Conventional wisdom is that the U.S. government will soon release a form for American Full Tilt players on the <a href="http://www.justice.gov">www.justice.gov</a> website.</p> <p>An exact timeline for U.S. players getting paid has yet to be announced, while the rest of the world is expected to be back on Full Tilt and able to withdraw within 90 days.</p> <p>This is a <a target="_blank" href="http://www.scribd.com/doc/101141742/Sample-Remission-Petition">sample of a standard remission petition</a> from the U.S. government.</p> <p>The Full Tilt funds will be distributed by the Asset Forfeiture Section.</p> <h3>Will Players Receive Winnings or Initial Deposit?</h3> <p>Questions still remain about whether U.S. players will be compensated for the amount they initially deposited on the site or their current balance with winnings included.</p> <p>It is assumed that it will be according to their current balance, like PokerStars has offered to rest of the world players, but this <a target="_blank" href="http://www.forbes.com/sites/nathanvardi/2012/08/01/the-big-question-for-full-tilts-u-s-players-will-they-get-their-poker-winnings-back/">Forbes article</a> suggests that may not be the case.</p> <p>It’s worth noting that players will be categorized based on their country of residence attached to their account when Full Tilt went offline on June 29, 2011.</p> <p>U.S. players who have subsequently moved abroad will be forced to file for reimbursement in the United States.</p> <p>In addition PokerStars is still trying to figure out how to let U.S. players see their balances so they know they exact amount to seek for remission.</p> <p>Here is some contact information for the Asset Forfeiture and Money Laundering Section in the United States:</p> <p><a href="http://www.justice.gov/criminal/afmls/">http://www.justice.gov/criminal/afmls/</a></p> <p>Direct Line: (202) 514-1263</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 01 Aug 2012 13:41:01 -0700 http://www.pokerlistings.com/how-u-s-full-tilt-poker-players-will-be-paid-21940 http://www.pokerlistings.com/how-u-s-full-tilt-poker-players-will-be-paid-21940 http://www.pokerlistings.com/how-u-s-full-tilt-poker-players-will-be-paid-21940#comments Law &amp; Business <p>From player restitution to the further consolidation of the global online poker market, this deal will play out alongside the regulation of online poker in the US to shape the poker landscape over the next few years.</p> <p>And while the return of hundreds of millions in player money is certainly the most visible result of this deal, and the most welcome, the impact will be felt in many ways by many people.</p> <p>In this insider analysis of the PokerStars/DOJ/Full Tilt Poker agreement we’ll take a closer look at the biggest business deal in online poker history and what it means to you.</p> <h3>Cash Infusion for Poker Economy</h3> <p>The sums of money being thrown around in this deal are enormous.</p> <p>First of all, <a target="_blank" href="http://www.pokerlistings.com/pokerstars-settles-with-doj-acquires-full-tilt-poker-95329">PokerStars has agreed to forfeit $547 million to the US government</a> over the next three years, and that doesn’t even take into account the roughly $184 million in player funds PokerStars must pay back to non-US players.</p> <p>$150 million of PokerStars’s forfeiture will be used by the US government to pay back Americans with money stuck on Full Tilt.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/blair-hinkle-32259.jpg"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-blair-hinkle-32259.jpg" alt="Blair Hinkle" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Blair Hinkle has more than $1 million tied up on Full Tilt Poker.</div> <div class="image-osd-background"> </div> </div> </div> <p>In total $334 million is expected to be returned to former customers of FTP. And while not all of that will go directly back into poker, the infusion of funds will absolutely have an observable effect on the poker economy.</p> <p>The effect will be most pronounced in the overall online poker industry metrics. A large number of accounts that have been inactive since FTP shut down will be up and running instantaneously.</p> <p>Recreational players with small amounts of money on Full Tilt Poker will go straight back to the tables, while professionals and high-stakes players will either pick up where they left off on FTP or transfer the money to the sites at which they’ve been playing since <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday.</a></p> <p>Many non-US players on Full Tilt Poker who stopped playing altogether after Black Friday will begin playing on FTP as soon as their money is available and the site is up and running.</p> <p>In the US the effect will manifest in live cash games and tournaments, until regulation allows Americans to once again play poker on the internet.</p> <p>A large number of player-to-player debts will also be resolved. Patrik Antonius, for example, will have a chance at recouping the roughly <a href="http://www.pokerlistings.com/antonius-says-5-million-at-risk-in-full-tilt-chaos-96218">$5 million in debt he told PokerListings.com about last October.</a></p> <h3>PokerStars and Full Tilt Dominant Again</h3> <p>In the era between the introduction of the UIGEA and Black Friday the online poker industry was defined by PokerStars and Full Tilt Poker.</p> <p>That status quo will soon return and will not end until online poker is regulated in the United States.</p> <p>According to today’s announcement PokerStars will have Full Tilt Poker up and running within 90 days of when the deal with the DOJ is finalized.</p> <div class="image-container image-landscape-size-medium image-position-alt"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/fulltiltteam3.jpg"><img class="image-position-alt image-landscape-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage320180-fulltiltteam3.jpg" alt="fulltiltteam3" width="320" height="180"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Full Tilt built an extremely strong brand. Unfortunately it was completely eroded by the events following Black Friday.</div> <div class="image-osd-background"> </div> </div> </div> <p>The only difference now is that instead of two companies competing against one another, both of the biggest sites will be operating under the umbrella of PokerStars.</p> <p>PokerStars will be able to shape the online poker experience for the majority of the world’s players, and it will give them the opportunity to offer more varied online poker products.</p> <p>It remains to be seen how PokerStars will choose to differentiate the two rooms, and how much of the pre-Black Friday Full Tilt brand they choose to retain.</p> <p>The re-introduction of Full Tilt into the online poker market also has big implications for smaller poker sites like 888poker and Party Poker.</p> <p>These rooms have been doing a great job of differentiating themselves from PokerStars through software improvements and player incentives but they'll have to step it up to hold their own as the online poker space becomes more competitive.</p> <h3>Re-Branding the New Full Tilt Poker</h3> <p>PokerStars announced that they will hire an entirely new management team to run Full Tilt Poker from the existing offices in Dublin, but that regulatory control will be transferred to the Isle of Man.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/howard-lederer-33766.jpg"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-howard-lederer-33766.jpg" alt="Howard Lederer" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">However they choose to brand the new Full Tilt Poker, it can't look anything like this.</div> <div class="image-osd-background"> </div> </div> </div> <p>But while separate teams will be running PokerStars and Full Tilt, you can bet top-level decisions regarding both sites will be made by the same people, and that those decisions will have cooperation in mind.</p> <p>With two separate sites at their disposal PokerStars should be able to broaden their appeal. But whatever route they take they will have to differentiate their two products.</p> <p>Most professional poker players take into account a mix of game selection, difficulty of competition and rakeback/rewards programs. These are the main ways PokerStars can cover more bases with two separate sites.</p> <p>PokerStars has always had a VIP rewards program while Full Tilt Poker did straight rakeback. Some have even suggested a joint rewards program whereby players could accumulate points playing on both sites.</p> <p>While professional grinders are drawn by the site that’s best for their bottom line, recreational players are more swayed by image, marketing and how much they feel they can trust the site.</p> <p>And one thing PokerStars does well is marketing.</p> <p>It seems likely that the new Full Tilt Poker will attempt a fresh start which means PokerStars will be looking for a fresh crop of big-name poker pros.</p> <p>They may bring along marquee names like Tom Dwan and Patrik Antonius, people who made it through Black Friday with their integrity intact, but a new site should have a new face. And it should be as different from the old face as humanly possible.</p> <h3>PokerStars and Full Tilt Poker to Return to United States</h3> <div class="image-container image-portrait-size-medium image-position-alt"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/Preet-Bharara.jpg"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-Preet-Bharara.jpg" alt="Preet Bharara" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">US Attorney Preet Bharara</div> <div class="image-osd-background"> </div> </div> </div> <p>PokerStars and Full Tilt Poker became the biggest online poker sites in the world post-2006, after continuing to offer online poker to Americans despite the introduction of the Unlawful Internet Gaming Enforcement Act (UIGEA).</p> <p>Since Black Friday the common conception has been that Stars and FTP would never do business in the US again, as punishment for disregarding the UIGEA.</p> <p>According to today’s announcement that’s not the case.</p> <p>“We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow,” said Mark Scheinberg, Chairman of the Board of PokerStars.</p> <p>The next biggest developments in the poker world will be the rise of the new Full Tilt Poker, and the regulation of online poker in the United States.</p> <p>Depending on the route that US legislation takes, those two storylines might very well intersect.</p> <p>If PokerStars and Full Tilt Poker are able to get in on regulation in the United States, it’s difficult to imagine a more appealing place to play for Americans.</p> <p>The software, expertise and experience that PokerStars brings to running an online poker site will make it very difficult for brick-and-mortar operators to compete.</p> <p><a href="https://plus.google.com/104078440048835204924" rel="me" target="_blank">Follow the author on Google+</a></p> <p><a target="_blank" href="https://twitter.com/mattshowell">Follow the author on Twitter</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 31 Jul 2012 14:07:00 -0700 http://www.pokerlistings.com/pokerstars-ftp-deal-what-it-means-for-poker-70342 http://www.pokerlistings.com/pokerstars-ftp-deal-what-it-means-for-poker-70342 http://www.pokerlistings.com/pokerstars-ftp-deal-what-it-means-for-poker-70342#comments Law &amp; Business <p>The new deal will have Full Tilt Poker voluntarily forfeit all assets to the U.S. government.</p> <p>According to a press release from PokerStars, the U.S. government will then transfer all those assets to PokerStars, which will in turn pay out $547 million to the U.S. government over the next three years.</p> <p>Full Tilt players from the U.S., out approximately $150 million, will have the opportunity to file a petition for remission with the DOJ Asset Forfeiture Money Laundering Service.</p> <p>PokerStars will directly reimburse $184 million owed to non-U.S. customers within 90 days.</p> <p>The deal will be complete upon a $225 million payment from PokerStars to the US government within six days of the entrance of today’s settlement.</p> <p>As part of the deal, all civil forfeiture and money laundering charges against individuals related to PokerStars and Full Tilt Poker will be dropped.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/Preet-Bharara.jpg"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-Preet-Bharara.jpg" alt="Preet Bharara" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">U.S. attorney Preet Bharara</div> <div class="image-osd-background"> </div> </div> </div> <h3>Agreement Allows PokerStars to Pursue Real-Money Poker in U.S.</h3> <p>The agreement will also permit both <a target="_blank" href="http://www.pokerlistings.com/poker-stars">PokerStars</a> and Full Tilt Poker to offer real money online poker when State or Federal governments legalize online poker.</p> <p>“We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow,” said Mark Scheinberg, Chairman of the Board of PokerStars.</p> <p>PokerStars plans to re-open Full Tilt Poker within 90 days of the formal close of the deal, which will occur within the next seven days.</p> <p>Manhattan U.S. Attorney Preet Bharara, who was central to <a target="_blank" href="http://www.pokerlistings.com/pokerstars-full-tilt-absolute-poker-founders-indicted-48064">online poker's Black Friday</a>, also released a statement on the deal.</p> <p>“We are pleased to announce these settlements by Full Tilt Poker and PokerStars, which allow us to quickly get significant compensation into the victim players’ hands."</p> <p>Below are more highlights from this breaking news story:</p> <p>Details on PokerStars/Full Tilt Poker Deal</p> PokerStars acquires Full Tilt Poker from the U.S. government for $547 million over the next three years. Full Tilt players in the U.S. will be paid back by the U.S. government (with funds from PokerStars). PokerStars will directly reimburse non-U.S. players $184 million, with no restrictions on withdrawals, within 90 days of completing this transaction. PokerStars (and Full Tilt Poker) will be permitted to apply to relevant U.S. gaming authorities to offer real-money online poker if/when state or federal governments introduce regulation. All civil forfeiture and money laundering charges against PokerStars and Full Tilt Poker will be dropped. PokerStars' Isai Scheinberg will be forced to step down from PokerStars management. In a related matter <a target="_blank" href="http://www.bloomberg.com/news/2012-07-31/absolute-poker-agrees-to-forfeiture-in-u-s-settlement.html">Absolute Poker/UB Poker have agreed to forfeiture</a> in its case with the U.S. government The Future of Full Tilt PokerPokerStars is prohibited from employing or otherwise hiring Full Tilt insiders Ray Bitar, Howard Lederer, Chris Ferguson, Rafe Furst and Nelson Burtnick. There are plans to re-launch Full Tilt Poker in most markets as a separate brand, following the appointment of a "new, independent management team." PokerStars will relaunch Full Tilt in most markets within 90 days of deal closing with player accounts available in full for play or withdrawal. PokerStars will not seek a license to operate as Full Tilt Poker in France, Italy, Spain, Denmark, Belgium or Estonia. Plan is to have functionality available to transfers funds between Full Tilt and PokerStars accounts PokerStars intends a fair resolution for players with accumulated points under the old Full Tilt rewards program. Details to be announced. The official date for determining country of residence for Full Tilt players is June 29, 2011. Full Tilt Poker’s headquarters will remain in Dublin but regulatory oversight will be transferred to the Isle of Man. Ray Bitar <a target="_blank" href="http://diamondflushpoker.com/2012/07/ray-bitar-and-his-attorney-comment-on-the-pokerstarsfull-tiltdoj-settlement/">released a statement</a> expressing regret over not getting the deal done sooner. <br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 31 Jul 2012 09:22:44 -0700 http://www.pokerlistings.com/pokerstars-settles-with-doj-acquires-full-tilt-poker-95329 http://www.pokerlistings.com/pokerstars-settles-with-doj-acquires-full-tilt-poker-95329 http://www.pokerlistings.com/pokerstars-settles-with-doj-acquires-full-tilt-poker-95329#comments Law &amp; Business <p>The deal would reportedly see FTP players finally repaid for the millions of dollars they’ve been owed since <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> hit last year.</p> <p>Last Friday Wendeen Eolis penned an article on PokerPlayerNewspaper.com that claimed Full Tilt and PokerStars negotiations were "in the can" and that players could expect frozen funds returned by Christmas.</p> <p>Since then Gambling911 and poker journalist Jennifer Newell have both "confirmed" the rumors through their own sources. Newell <a href="https://twitter.com/WriterJen">even specified the announcement</a> would be made today.</p> <p>A very reliable source just told me the Stars/FTP deal is done. If no announcement today, it will happen on Monday. Book it.</p> — Jennifer Newell (@WriterJen) <a href="https://twitter.com/WriterJen/status/228931554443943936" data-datetime="2012-07-27T19:15:10+00:00">July 27, 2012</a> <p>While the news appears promising, as of 12 p.m. PST on Monday there has yet to be an official statement from the U.S. Department of Justice, PokerStars or Full Tilt on the issue.</p> <p>Full Tilt players have already had to deal with several false hopes including the <a href="http://www.pokerlistings.com/tapie-group-confirms-ftp-deal-a-failure-60082">much-publicized Tapie Group deal that eventually fell through</a> a few months ago.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/Preet-Bharara.jpg"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-Preet-Bharara.jpg" alt="Preet Bharara" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Preet Bharara: Man behind the Ponzi scheme allegation.</div> <div class="image-osd-background"> </div> </div> </div> <p>Recent news on the potential PokerStars/FTP deal has also been mostly limited to poker media sources with little mainstream attention at this point.</p> <h3>Long, Painful Journey with DOJ at its Center</h3> <p>It’s been a long, painful journey for poker players with money trapped on Full Tilt since Black Friday occurred last spring.</p> <p>Initially U.S. players were set to be paid back but after months of delays it finally came to light that FTP did not have players funds.</p> <p>US Department of Justice attorney Preet Bharara even alleged the online poker site <a target="_blank" href="http://www.pokerlistings.com/breaking-doj-calls-full-tilt-ponzi-scheme-claims-owners-defrauded-players-46671">was a Ponzi scheme</a> as it continued to accept funds form players around the world while the board members knew it was insolvent.</p> <p>Since then various deals have been discussed with the DOJ a factor in all of them.</p> <p>There have been several outlandish claims regarding a potential <a target="_blank" href="http://www.pokerlistings.com/poker-stars">PokerStars</a> deal with some poker insiders speculating PokerStars would be allowed back into the U.S. if it agreed to buy Full Tilt Poker and refund players.</p> <p>For more information be sure to check our comprehensive <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Full Tilt Poker Black Friday timeline</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 30 Jul 2012 12:19:50 -0700 http://www.pokerlistings.com/rumor-pokerstars-full-tilt-poker-deal-imminent-38900 http://www.pokerlistings.com/rumor-pokerstars-full-tilt-poker-deal-imminent-38900 http://www.pokerlistings.com/rumor-pokerstars-full-tilt-poker-deal-imminent-38900#comments Law &amp; Business <p>From cutting staff to accepting advertising buys from less than reputable services, there are plenty of clues that PokerNews has been struggling since Black Friday.</p> <p>And with PokerStars doing everything they can to strengthen their position as the world’s biggest online poker room, the next logical step is to gain control of what is arguably the biggest poker media resource on the web.</p> <p>The two companies have enjoyed an extremely tight working relationship over the last couple years, one that seems to be getting stronger. PokerNews live updates have been appearing on the PokerStars Blog since last season and PokerStars has been featured above all other poker rooms in terms of banners and toplists on PokerNews.</p> <p>But there are more reasons to predict this acquisition.</p> <h3>Clues that PokerNews is in Trouble</h3> <p>Poker affiliates across the board took a big hit when American customers were removed from the equation on April 15, 2011, but PokerNews was hit particularly hard. And it’s likely their troubles had begun prior to the Department of Justice’s indictments of the world’s three biggest online poker rooms.</p> <p>As late as March 6, 2011 <a target="_blank" href="http://web.archive.org/web/20110306020359/http://www.pokernews.com/">PokerNews still rated Full Tilt Poker as the number one room</a> at which to sign up and play. As we now know Full Tilt was in serious trouble at this point. FTP didn’t have the money to pay out players, so it’s unlikely they were making good on their affiliate deals.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/IMG0557.JPG"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-IMG0557.JPG" alt="Day 7 of the 2012 WSOP Main Event" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">PokerNews still had a strong presence at the 2012 World Series of Poker.</div> <div class="image-osd-background"> </div> </div> </div> <p>In fact, PokerListings.com was forced to sever all ties with FTP many months before Black Friday, due to outstanding payments for player signups.</p> <p>It wasn’t until the beginning of June that PokerNews <a target="_blank" href="http://pokerfuse.com/news/media-and-software/pokernews-pulls-full-tilt-poker-affiliation/">stopped sending players to Full Tilt Poker.</a></p> <p>Since Black Friday PokerNews has begun hiring cheaper, less experienced field reporters, phased out key full time positions and is taking advertising money from questionable sources, more evidence that the company is struggling.</p> <p>The most visible example came halfway through the 2012 WSOP when PokerNews laid off Eric Ramsey, a very highly-esteemed reporter and photographer that had worked with PokerNews for the last few years.</p> <p>The only explanation Ramsey was given was that the company could no longer afford the position.</p> <p>But perhaps most glaring is the banner that is currently featured front and center on the PokerNews home page.</p> <p>AshleyMadison.com is a dating site that helps people cheat on their spouses. Their tag-line, “Life is short. Have an affair” more or less sums it up.</p> <p>The fact that a major site like PokerNews would absorb the collateral damage to their brand that comes with a banner like that is a very big indication of where they are financially.</p> <h3>Why PokerStars Will Acquire PokerNews</h3> <p>PokerStars and PokerNews have been working closely together for the last couple years, most visibly on the European Poker Tour but also on PokerStars’ smaller regional tours like the Latin American Poker Tour.</p> <p>The PokerNews live coverage team is subsidized by PokerStars to provide live updates and content which appears on the PokerStars Blog.</p> <p>And live updates aren’t the only overlap in between the two sites.</p> <div class="image-container image-landscape-size-medium image-position-alt"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/Poker-News-Online-Poker-Reviews-Bonuses-PokerNews-Mozilla-Firefox-7212012-20243-PM.jpg"><img class="image-position-alt image-landscape-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage320180-Poker-News-Online-Poker-Reviews-Bonuses-PokerNews-Mozilla-Firefox-7212012-20243-PM.jpg" alt="Poker News Online Poker Reviews Bonuses PokerNews Mozilla Firefox 7212012 20243 PM" width="320" height="180"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">With the exception of AshleyMadison.com, PokerStars banners already dominate PokerNews.</div> <div class="image-osd-background"> </div> </div> </div> <p>Long-time PokerNews presenter and writer Lynn Gilmartin hosts PokerStars TV during major live events, and PokerNews’ Global Tournament Reporting Manager Donnie Peters writes a number of articles that appear on the PokerStars Blog.</p> <p>And this wouldn’t be the first time PokerStars has acquired a major poker media outlet and turned it into a dedicated PokerStars portal.</p> <p>Last year PokerStars bought PokerPages.com and now the only banners you’ll see on that site point directly to PokerStars. The content on the site is written by the same freelancers who work for the PokerStars Blog.</p> <h3>What This Will Mean for Poker Media</h3> <p>When rumors began to surface that PokerStars was trying to buy Full Tilt Poker <a target="_blank" href="http://www.pokerlistings.com/pros-react-to-pokerstars-potentially-buying-full-tilt-48453">the general reaction was extremely positive.</a> After all, most saw it as the best chance for players to recoup the money still locked up on FTP.</p> <p>But it wasn’t long until the conversation turned to the potential for a monopoly in the poker industry.</p> <p>PokerStars already owns the biggest share of the poker market and in terms of marketing and PR no one else even comes close.</p> <p>With major acquisitions like Full Tilt Poker, and potentially PokerNews, PokerStars is further consolidating the market.</p> <div class="image-container image-landscape-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/IMG0122.JPG"><img class="image-position image-landscape-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage320180-IMG0122.JPG" alt="Day 4" width="320" height="180"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">It's important to know where your news is coming from.</div> <div class="image-osd-background"> </div> </div> </div> <p>And if PokerNews becomes a mouthpiece for PokerStars it throws their editorial agenda into question.</p> <p>While affiliate sites like PokerNews and PokerListings don't claim to be completely unbiased, there is a difference between representing the interests of one single online poker room as opposed to a group. And that's especially true when that one site happens to be the biggest in the industry.</p> <p>The good news is that the community generally trusts PokerStars, and for good reason. Of the three online poker rooms targeted on <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> they're the only one that made it through in one piece and the only site that paid back their customers.</p> <p>Add to that the years of innovation, professionalism and unparalleled customer support that PokerStars has under its belt and it’s easy to see why they’re well-liked. Moreover, with their live poker tours around the world PokerStars is doing more than anyone to grow the game of poker.</p> <p>But despite all that a monopoly is still dangerous, especially when it includes major media outlets that readers trust for unbiased reporting of the news.</p> <p>It will mean fewer perspectives, less dissention with the popular opinion and ultimately a more narrow view of what’s really happening in the poker world.</p> <p>The key is for PokerStars to be up front and transparent. Rather than attempting to shape popular opinion by manipulating the news they must continue to offer the same service and support that made them the biggest to begin with.</p> <p>But most importantly if they do acquire PokerNews, they must make it clear that the site is no longer an unbiased news resource, but rather a dynamic advertisement for PokerStars.</p> <p><a href="https://plus.google.com/104078440048835204924" rel="me" target="_blank">Follow the author on Google+</a></p> <p><a target="_blank" href="https://twitter.com/mattshowell">Follow the author on Twitter</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 24 Jul 2012 11:40:00 -0700 http://www.pokerlistings.com/opinion-pokerstars-to-acquire-pokernews-60240 http://www.pokerlistings.com/opinion-pokerstars-to-acquire-pokernews-60240 http://www.pokerlistings.com/opinion-pokerstars-to-acquire-pokernews-60240#comments Law &amp; Business <p>According to a story with <a target="_blank" href="http://www.egrmagazine.com/news/exclusive_zynga_opens_real-money_poker_tender">eGaming Review</a>, noted software companies GTECH G2 and Playtech submitted bids to supply the platform.</p> <p>Playtech is well known in the industry for providing software for iPoker network, which includes <a target="_blank" href="http://www.pokerlistings.com/titan-poker">Titan Poker</a> and <a target="_blank" href="http://www.pokerlistings.com/william-hill-poker">William Hill Poker</a> while GTECH G2 is responsible for International Poker Network behind Yahoo! UK, Sporting Bet and Bet-at-Home.</p> <p>The news is surprising considering earlier this year Zynga moved to acquire Swedish Poker Network Ongame. It’s unclear how the tender offects the acquisition of Ongame.</p> <p>Although Zynga Poker does not currently offer for-money games, it is the most-played online poker game in the world with hundreds of thousands of daily users.</p> <p>Earlier this year Zynga CEO Mark Pincus described real-money gambling as a “natural fit” with virtual goods and social games at a conference earlier this year.</p> <p>Zynga has also been in talks with the Wynn in Las Vegas to potentially partner with the brick and mortar casino in the future.</p> <p>Even without real-money games Zynga dominates the mobile space and the company claims that Zynga Poker is the highest grossing game on Android or iOS platforms.</p> <p>Millionaire tech investor Jason Calacanis, who played at the 2012 WSOP in Las Vegas this summer, is convinced that Zynga is the heir-apparent to the online poker throne.</p> <p>“I would predict Zynga becomes the number one player in online poker,” he said. “It will be a race between Zynga and Pokerstars.”</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 24 Jul 2012 10:23:07 -0700 http://www.pokerlistings.com/zynga-looks-to-acquire-real-money-poker-software-76668 http://www.pokerlistings.com/zynga-looks-to-acquire-real-money-poker-software-76668 http://www.pokerlistings.com/zynga-looks-to-acquire-real-money-poker-software-76668#comments Law &amp; Business <p>Beckley, 32, was the head of payment processing at Absolute Poker starting in 2003 and <a href="http://www.apcw.org/legal-documents/Beckley%20Brent%20-%20Plea%20Agreement.pdf">pled guilty to two charges in December, 2011.</a></p> <p>"I fooled myself into thinking that what I was doing was OK," Beckley told U.S. District Judge Lewis Kaplan.</p> <p>Despite Beckley having no previous criminal record and making a full surrender Kaplan still felt he deserved prison time saying, “The sentence has to make clear that the government of the United States means business in these types of cases."</p> <p>Beckley was one of 11 individuals charged when the US Department of Justice pursued legal action against the world’s three biggest online poker rooms in April of 2011.</p> <p>Ray Bitar, the principal owner of Full Tilt Poker and most high profile of those indicted, surrendered to US authorities earlier this month. Unlike Beckley, Bitar pled not guilty to the charges he’s facing.</p> <p>While Beckley’s sentencing has been finalized, the matter of player funds still locked up on Absolute Poker has not.</p> <p>Similarly to former customers at Full Tilt Poker, players with money in their accounts at Absolute Poker are anxiously awaiting some word from the DOJ that there cash might be returned.</p> <p>Of the three, PokerStars is the sole surviving online poker room, and the only one to return player funds. PokerStars owner Isai Scheinberg remains at large.</p> <p>For continuing coverage of Black Friday’s aftermath, check out <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 23 Jul 2012 15:40:00 -0700 http://www.pokerlistings.com/absolute-poker-s-brent-beckley-sentenced-to-14-months-45074 http://www.pokerlistings.com/absolute-poker-s-brent-beckley-sentenced-to-14-months-45074 http://www.pokerlistings.com/absolute-poker-s-brent-beckley-sentenced-to-14-months-45074#comments Law &amp; Business <p>According to a <a target="_blank" href="http://www.bloomberg.com/news/2012-07-02/full-tilt-poker-s-bitar-charged-in-new-indictment-in-n-y-1-.html">story with Bloomberg</a>, Bitar remains in prison although his bail is set at $2.4 million, including $1 million in secured cash.</p> <p>The Full Tilt Poker founder is facing charges of money laundering, wire fraud and operating an illegal gambling business.</p> <p>If found guilty of all charges Bitar is looking at a maximum sentence of 145 years in prison.</p> <p>Upon surrendering to the U.S. government, Bitar was hit with a <a target="_blank" href="http://www.scribd.com/doc/98897950/Bitar-Raymond-And-Nelson-Burtnick-S8-Indictment">revised indictment</a> with new charges.</p> <p>The new indictment pertains specifically to the post-Black Friday actions of Full Tilt and alleges the company continued to encourage players outside the U.S. to make deposits despite not being able not even having the U.S. player funds.</p> <p>"I know that a lot of people are very angry at me," said Bitar in a statement released by his lawyers. "I understand why. Full Tilt should never have gotten into a position where it could not repay player funds."</p> <p>In a <a target="_blank" href="http://www.pokerlistings.com/fbi-arrests-full-tilt-poker-ceo-ray-bitar-53464">letter released yesterday</a>, Bitar told Full Tilt Poker employees that he was voluntarily returning to the U.S. to deal with the civil and criminal charges laid against him.</p> <p>According to prosecutors, Bitar may have been forced back to the U.S. regardless. They had been working with the Irish authorities and were prepared to extradite Bitar if he did not return voluntarily.</p> <p>The U.S. Department of Justice alleges that more than $430 million had been paid to Bitar and other owners while only $60-$70 million remained in company accounts to pay back players.</p> <p>More than one year after <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a>, Full Tilt players are still out about $350 million.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 03 Jul 2012 16:09:35 -0700 http://www.pokerlistings.com/full-tilt-s-ray-bitar-pleads-not-guilty-bail-at-2-4-million-16551 http://www.pokerlistings.com/full-tilt-s-ray-bitar-pleads-not-guilty-bail-at-2-4-million-16551 http://www.pokerlistings.com/full-tilt-s-ray-bitar-pleads-not-guilty-bail-at-2-4-million-16551#comments Law &amp; Business <p>According to the announcement Lock Poker will leave the Merge network to become a member of Revolution Gaming by June 1.</p> <p>“We are very excited at the prospect of driving the product, marketing and overall vision of the network. It is a dream come true,” said Jennifer Larson, CEO of Lock.</p> <p>“Merge was a great stepping stone for us but we have outgrown them. We really need to forge our own path to continued success. The only way to do this is to stay true to our core philosophy: partnering with our players.”</p> <p>The move is expected to be seamless and players should have their bankrolls and VIP statuses switched to the new Revolution Gaming network in a software update on May 31.</p> <p>According to Larson players will benefit from an improved loyalty program, rakeback and a faster cashout structure on the new Revolution Gaming network.</p> <p>The site is also set to add more Lock Pros although it already has a very respectable stable with Annette Obrestad, Melanie Weisner, Chris Moorman, Leo Margets and Matt Stout all on board.</p> <p>Lock Poker, Cake Poker, Bodog and the Merge Poker Network are among the few online poker sites that still accept <a target="_blank" href="http://www.pokerlistings.com/US-poker-rooms">U.S. poker</a> players.</p> <p>For more information check our <a target="_blank" href="http://www.pokerlistings.com/lock-poker">Lock Poker review</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 07 May 2012 08:42:04 -0700 http://www.pokerlistings.com/lock-poker-to-buy-cake-poker-transition-to-revolution-network-21038 http://www.pokerlistings.com/lock-poker-to-buy-cake-poker-transition-to-revolution-network-21038 http://www.pokerlistings.com/lock-poker-to-buy-cake-poker-transition-to-revolution-network-21038#comments Law &amp; Business <p>The Diamond Flush Poker website has published what it says is a leaked email from Laurent Tapie, the executive director of the Bernard Tapie Group spearheading the Full Tilt deal, to 16 “key” employees of Pocket Kings.</p> <p>In the email Tapie made a dramatic proposal, giving employees the chance to maintain their current salary but instead work for a new poker site under the Game Cubed company Tapie registered earlier this month in Ireland.</p> <p>The primary condition, however, is they would all need to accept the offer:</p> <p>I will do this only if I can attract ALL OF the Pocket Kings KEY STAFF to join me. With your help and know-how, we will launch a new website that will be best of breed in 6-7 months.</p> <p>I know that any such step requires a leap of faith, so here is my offer:  as of May 1, I will hire the entire Pocket Kings key staff – every single one of you – at your current salaries and with your accumulated benefits intact.  I also will include stock options in the new company, so that we all will share in what I believe to be the exciting upside this opportunity represents.</p> <p>Read the <a target="_blank" href="http://diamondflushpoker.com/2012/05/new-plans-for-tapie-and-online-poker/">complete email on Diamond Flush Poker</a>.</p> <h3>New Software, Lost Balances to ROW Players</h3> <p>Tapie went on to say the staff would write entirely new software and launch a new brand with an offer to former Full Tilt ROW players to recover their lost balances if they join the site.</p> <p>The email was allegedly sent out just hours before Tapie released the official statement where he said the company was pulling out of the Full Tilt deal.</p> <p>It’s unclear if any employees accepted the offer although at this point it seems unlikely considering Tapie himself called off the Full Tilt deal.</p> <p>The Full Tilt Poker deal allegedly fell through because the Tapie Group couldn’t reach an agreement with the U.S. Department of Justice on a timeline for paying back ROW players.</p> <p>In the email Tapie wrote the DOJ ultimately refused to accept the Tapie Group’s proposal for repayment of the players on April 14, 2012, because it wanted GBT to pay back 100% of the $184 million owed to ROW players in 90 days.</p> <p>Bernard Tapie Group attorney Behnam Dayanim, when contacted by PokerListings about the email, said he could only offer "no comment."</p> <p>Since the BTG/Full Tilt deal fell through, former competitor PokerStars <a href="http://www.pokerlistings.com/rumor-pokerstars-to-buy-full-tilt-poker-for-750-million-34877">has been rumored to be in negotiations with the DOJ</a> to buy the floundering Full Tilt Poker for $750 million.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 01 May 2012 11:46:00 -0700 http://www.pokerlistings.com/leaked-tapie-email-plans-for-a-new-full-tilt-poker-like-site-53506 http://www.pokerlistings.com/leaked-tapie-email-plans-for-a-new-full-tilt-poker-like-site-53506 http://www.pokerlistings.com/leaked-tapie-email-plans-for-a-new-full-tilt-poker-like-site-53506#comments Law &amp; Business <p>The AGCC confirmed the move earlier this week. Although the Commission gave no reason for the withdrawal, Orinic Limited was believed to have been applying for the licence as part of the potential deal with the Bernard Tapie Group.</p> <p>Since the Tapie deal collapsed earlier this week there was apparently no reason for Orinic to go forward with the application for the time being.</p> <p>Orinic Limited was seeking a Category 2 eGambling license that would have permitted them to handle online gambling funds.</p> <p>The Full Tilt Poker subsidiary was able to avoid getting its Category 1 license revoked last summer because it didn’t host of the games on FTP and wasn’t in violation of any AGCC regulations.</p> <p>In other Full Tilt Poker news the company has released an official statement addressing the collapse of the Bernard Tapie deal.</p> <p>“To address issues reported today in the media and on blogs, Full Tilt Poker confirms that its agreement with Groupe Bernard Tapie has in fact been terminated,” said FTP Attorney Barry Boss.</p> <p>“Despite this development, Full Tilt Poker is more optimistic than ever that its number one goal will be obtained: Full Tilt players will be repaid. Full Tilt Poker has been in settlement discussions with the US Department of Justice.  As such settlement discussions are always confidential, we are unable to comment on any rumors related to the details of those discussions.  As soon as we have information to share publicly we will do so.”  </p> <br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 26 Apr 2012 08:57:40 -0700 http://www.pokerlistings.com/full-tilt-subsidiary-pulls-out-of-agcc-application-31176 http://www.pokerlistings.com/full-tilt-subsidiary-pulls-out-of-agcc-application-31176 http://www.pokerlistings.com/full-tilt-subsidiary-pulls-out-of-agcc-application-31176#comments Law &amp; Business <p>While the acquisition has yet to be confirmed officially, poker players at the EPT Grand Final in Monte Carlo haven’t stopped talking about it.</p> <p>We spoke with Jason “JCarver” Somerville, Mike “Timex” McDonald, Matt “Jarfish” Jarvis and Mike "SirWatts” Watson to find out what the pros are saying about the possible PokerStars acquisition of Full Tilt Poker.</p> <p>PokerListings.com: Based on what we’ve heard today, does the idea of PokerStars buying Full Tilt make any sense? Is it even possible?</p> <p>Jason Somerville: I absolutely think it’s possible but I think Stars is smart enough that they wouldn’t do this unless they had their eye on some bigger prize so all the talk about Stars coming back to America makes sense because they just wouldn’t pay the DOJ unless that was part of it.</p> <p>Mike McDonald: I was definitely caught off guard when I heard the news. I knew Full Tilt Poker was in the process of being acquired but I had no idea PokerStars was playing a role in it. But I definitely think it’s feasible. I don’t see any reason it wouldn’t be doable. If Coke could buy Pepsi why wouldn’t they? So I feel like that’s what’s happening here.</p> <p>Matt Jarvis: It seems to make a lot of sense. As much as I hate monopolies it makes a lot of sense for a company like that to try to consolidate the market as much as possible.</p> <div class="image-container image-portrait-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/IMG5772.JPG"><img class="image-position image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-IMG5772.JPG" alt="Mike McDonald" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Mike "Timex" McDonald</div> <div class="image-osd-background"> </div> </div> </div> <p>Mike Watson: It’s weird because no one seems to know where the information is coming from but there are enough people whose opinions I respect who seem to think it’s legit so it’s certainly plausible. PokerStars has the money and the willingness to actually do it so it makes sense.</p> <p>PokerListings.com: What do you see as the biggest reasons for PokerStars to make a move like this?</p> <p>Jason Somerville: I think it’s purely financial. If PokerStars pulls this off who else really exists in the online poker world? There wouldn’t be any competition left. They’d almost have a monopoly at that point. But apart from Stars, even if the money getting paid back is the only thing that this accomplishes, that’s so huge. Three of my closest friends have something in the realm of $5-$10 million tied up on Full Tilt, just insane money.</p> <p>Mike McDonald: There could be different segments of the market they could appeal to with Full Tilt maybe. I feel like Full Tilt has always been seen as the cooler of the two sites. PokerStars has a lot of the Main Event champions but they never had the Phil Iveys and the nosebleed cash games.  </p> <p>Matt Jarvis: The software is definitely a big asset. Some people preferred it even over the PokerStars software, and the player base is huge as well. I think it’s true that the casual player doesn’t really understand what happened on Black Friday and I really think that if the site was up and running tomorrow, a lot of people would be playing on it pretty fast. And that’s even more true if PokerStars is running things.</p> <div class="image-container image-portrait-size-medium image-position-alt"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/Matt-Jarvis-WSOP-Winner.jpg"><img class="image-position-alt image-portrait-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage180320-Matt-Jarvis-WSOP-Winner.jpg" alt="Matt Jarvis WSOP Winner" width="180" height="320"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Matt "Jarfish" Jarvis</div> <div class="image-osd-background"> </div> </div> </div> <p>Mike Watson: The player base has to be great for them. Full Tilt, or whatever it ends up being called, could make a lot of money for them. What I’m hearing is that they’re going to run it alongside Stars but that remains to be seen. They’re giving away a lot of money in the short term but if people know it’s managed properly it could certainly be successful.</p> <p>PokerListings.com: Do you think people should be apprehensive about a possible PokerStars monopoly in the future?</p> <p>Jason Somerville: People have a really bad opinion of Full Tilt, and it’s certainly warranted, but PokerStars, on the other hand, paid players back what, like 45 seconds after Black Friday? And it wasn’t just done, it was done well. They were so fast and so up front that I think they’ll be able to handle it well and people will be able to trust them.</p> <p>Mike McDonald: Any time there’s a monopoly in any industry it has the potential to be a bad thing, but I’m just hoping things don’t go that way.</p> <p>Matt Jarvis: I think it’s a little bit scary but I really like the way PokerStars runs things. It’s obviously a bit worrisome because Stars might be able to do whatever they want, as far as raising rake, or changing things for the players or whatever they wanted to do. But I can’t really see them alienating their players like that, though, since they’re basically printing money.</p> <p>Mike Watson: I’m not worried about it. The biggest thing is to just get the players’ money back.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 24 Apr 2012 14:40:00 -0700 http://www.pokerlistings.com/pros-react-to-pokerstars-potentially-buying-full-tilt-48453 http://www.pokerlistings.com/pros-react-to-pokerstars-potentially-buying-full-tilt-48453 http://www.pokerlistings.com/pros-react-to-pokerstars-potentially-buying-full-tilt-48453#comments Law &amp; Business <p>According to the release the deal fell apart because the parties involved couldn’t agree on a plan for repayment of the non-U.S. players and the substantial legal complications surrounding legality of forfeiture under non-U.S. laws.</p> <p>Because all of Full Tilt Poker’s key assets reside outside the U.S., the Tapie Group claimed non-U.S. courts might regard the forfeiture as a “fraudulent transaction.”</p> <p>In the statement the Tapie Group also briefly touched on the <a target="_blank" href="http://www.pokerlistings.com/rumor-pokerstars-to-buy-full-tilt-poker-for-750-million-34877">rumored PokerStars acquisition</a> and warned about a consolidated online poker market that might eventually lead to anti-trust issues.</p> <p>The complete statement is below:</p> <p>Groupe Bernard Tapie regrets to announce that, after seven months of intensive work, our efforts to obtain final approval of the United States Department of Justice of the agreement to acquire the assets of Full Tilt Poker have ended without success. Ultimately, the deal failed due to two major issues. The parties could not agree on a plan for repayment of ROW players. GBT proposed a plan that would have resulted in immediate reinstatement of all ROW player balances, with a right to withdraw those funds over time, based on the size of the player balance and the extent of the player’s playing activity on the re-launched site. All players would have been permitted complete withdrawal of their balances, regardless of whether they played on the site, by a date certain, and 94.9% of ROW players would have been fully repaid on day 1. DOJ ultimately insisted on full repayment with right of withdrawal within 90 days for all players– a surprise demand made in the 11th hour, after months of good-faith negotiations by GBT. The legal complications surrounding the deal – specifically, questions surrounding the legality of the forfeiture under non-US laws – also proved unresolvable. All of the key assets of the FTP companies reside outside of the United States. A non-US court well might regard the purported forfeiture as a “fraudulent transaction” and declare it invalid or deem the acquirer of the assets responsible for all of those creditor obligations. Given the $80 million purchase price, and the substantial amount of cash needed to relaunch FTP, those issues ultimately proved too substantial to overcome. GBT is very conscious of the hopes it has created – among FTP employees that they will retain their jobs, among FTP players that they will recover their balances, and among the entire poker community that the world’s finest poker platform will be relaunched and bring a needed added element of competition to a world market that today is fully dominated by a single operator. GBT cannot accept the end of those hopes. For that reason, unless a concrete and legally viable solution is found in the very coming days to save the employees and repay the players of FTP, we will move to our own plan of action. We understand from press reports that the DOJ may have entered into an agreement with PokerStars pursuant to which PokerStars will acquire the FTP assets.
If accurate, we 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.

If a PokerStars acquisition of FTP means that all FTP players will be fully repaid immediately, we are very happy for the players, as their final and full repayment has always been our priority. We only regret that such a deal would signal further consolidation of a poker market already dominated by a single player – an outcome that may raise antitrust concerns and that, in the long run, is probably not good for players and for the whole online poker industry.</p> <br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 24 Apr 2012 09:52:27 -0700 http://www.pokerlistings.com/tapie-group-confirms-ftp-deal-a-failure-60082 http://www.pokerlistings.com/tapie-group-confirms-ftp-deal-a-failure-60082 http://www.pokerlistings.com/tapie-group-confirms-ftp-deal-a-failure-60082#comments Law &amp; Business <p>News broke earlier this morning when Dreyfus said via Twitter that PokerStars was buying the beleaguered Full Tilt for $750 million, which includes the $330 million to pay back all players.</p> <p>Dreyfus is the CEO of Chilipoker and Tweets about the iGaming industry in the USA and France.</p> <p>What about the proposed Bernard Tapie Group deal that appeared close to completion?</p> <p>According to iGaming France, Laurent Tapie has confirmed the deal is off and insinuated there was external sabotage over the DOJ negotiations. Tapie is set to release a statement later today.</p> <p>The Tapie Group has been in talks to buy Full Tilt for the last six months. The group appeared to be close over the last couple weeks as Laurent Tapie registered a company in Ireland first called “New Full Tilt” and there were signs of activity on the FTP website.</p> <p>Laurent Tapie has yet to comment but said he would be releasing a statement later today.</p> <h3>Kid Poker in the Dark on FTP Deal</h3> <p>Daniel Negreanu, leading member of Team PokerStars Pro, told PokerListings.com today in Monte Carlo that he knew nothing of an impending deal.</p> <p>“I have no information on it other than what I’m reading but people I’m talking to seem to believe it’s true,” said Negreanu.</p> <p>“The idea of PokerStars buying Full Tilt for $750 million seems impossible to me, so based on what I know it would really surprise me.</p> <p>“But it would definitely be good for poker players because PokerStars is a good company and players wouldn’t have to deal with those scumbags anymore,” he said.</p> <p>Prior to Black Friday, PokerStars and Full Tilt were bitter rivals as the two biggest online poker rooms in the world.</p> <p>When Black Friday hit PokerStars quickly repaid USA players and left the market. Meanwhile Full Tilt stalled before it was finally revealed in the fall of 2011 they didn’t have enough money to cover player’s balances.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 24 Apr 2012 08:19:21 -0700 http://www.pokerlistings.com/rumor-pokerstars-to-buy-full-tilt-poker-for-750-million-34877 http://www.pokerlistings.com/rumor-pokerstars-to-buy-full-tilt-poker-for-750-million-34877 http://www.pokerlistings.com/rumor-pokerstars-to-buy-full-tilt-poker-for-750-million-34877#comments Law &amp; Business <p>The hearing will be open to the public at 2pm on Thursday, May 3 at the Braye Beach Hotel in Alderney.</p> <p>Orinic was the only Full Tilt Company not stripped of its AGCC license last year following an internal review by the AGCC. Orinic received a six-month suspension instead.</p> <p>Orinic previously held a Category 1 license with the AGCC, which did not permit the handling of online gambling funds.</p> <p>Orinic is now seeking a Category 2 license which would allow them to offer full online gambling services and handle gambling transactions.</p> <p>Here is the full statement from the <a href="http://www.gamblingcontrol.org/userfiles/file/Orinic%20Public%20Notice.pdf">AGCC website</a>:</p> <p>In the matter of an application by Orinic Limited for a Category 2 eGambling licence</p> <p>TAKE NOTICE </p> <p>that the Alderney Gambling Control Commission, pursuant to Section 4 of the Alderney eGambling Ordinance, 2009 and Regulation 23 of the Alderney eGambling Regulations, 2009, will hold a public hearing at which oral representations may be made.</p> <p>This hearing will take place at 2.00pm on Thursday 3rd May, 2012 at the Braye Beach Hotel, Alderney.</p> <p>The pieces of the puzzle appear to be falling into place for the rebirth of Full Tilt Poker, as this AGCC licensing process is happening alongside re-staffing of FTP company Pocket Kings Ltd and the <a target="_blank" href="http://www.pokerlistings.com/tapie-funds-new-full-tilt-poker-company-12050">launch of New Full Tilt Poker Limited</a> by Laurent Tapie of Groupe Bernard Tapie.</p> <p>For more information keep an eye on our <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board - US Online Poker Legal Updates.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 19 Apr 2012 09:30:00 -0700 http://www.pokerlistings.com/full-tilt-poker-s-orinic-limited-granted-agcc-hearing-90454 http://www.pokerlistings.com/full-tilt-poker-s-orinic-limited-granted-agcc-hearing-90454 http://www.pokerlistings.com/full-tilt-poker-s-orinic-limited-granted-agcc-hearing-90454#comments Law &amp; Business <p>The news further fuels speculation that the defunct online poker room will soon be operational.</p> <p>Alongside Tapie at the helm of New Full Tilt Limited is Prosper Jerémy Masquelier, named as the company’s second Director.</p> <p>Masquelier, along with Laurent and Bernard Tapie, are the three co-founders of the mysterious International Stadiums Poker Tour announced October of last year.</p> <p>The news came to light on <a href="http://pokerfuse.com/news/poker-room-news/new-full-tilt-limited-tapie-funds-new-irish-company-1m/">PokerFuse</a> and <a href="http://forumserver.twoplustwo.com/29/news-views-gossip/new-full-tilt-limited-tapie-funds-new-irish-company-1m-1194616/">TwoPlusTwo</a> and relies on information from Irish company directory <a href="https://www.solocheck.ie/">SoloCheck.ie.</a></p> <p>According to records New Full Tilt Limited was incorporated on February 14, has a registered Dublin address and is classified as “Software Consultancy and Supply”.</p> <p>Records also show that the company has been funded with €1 million.</p> <p>This news comes one day after the Full Tilt website showed signs of life for the first time in months, and just weeks after FTP operator Pocket Kings LTD began re-hiring.</p> <p>With hundred of millions in unpaid player funds hanging in the balance, rumors continue to circulate as to the future of Full Tilt Poker.</p> <p>We contacted Groupe Bernard Tapie attorney Behnam Dayamin who responded, “I still cannot comment.”</p> <p>ESPN’s Andrew Feldman tweeted yesterday:</p> <p><span style="text-decoration: line-through;"><span style="text-decoration: underline;">@</span></span><span style="text-decoration: underline;">ESPN_Poker</span> “Lots of FTP rumors going around. Was told yesterday, "There is going to be a major development shortly." More details when I have them...”</p> <p>For more information on everything pertaining to Full Tilt Poker and Black Friday, follow our <a target="_blank" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 17 Apr 2012 12:00:00 -0700 http://www.pokerlistings.com/tapie-funds-new-full-tilt-poker-company-12050 http://www.pokerlistings.com/tapie-funds-new-full-tilt-poker-company-12050 http://www.pokerlistings.com/tapie-funds-new-full-tilt-poker-company-12050#comments Law &amp; Business <p>The application, reported by <a href="http://pokerfuse.com/news/law-and-regulation/full-tilt-shell-company-applies-category-2-egaming-license/">Pokerfuse.com,</a> is for a category 2 license with the AGCC that would permit Orinic to handle gaming funds and offer full online gaming services.</p> <p>This news comes on the heels of urgent customer service job openings <a target="_blank" href="http://www.pokerlistings.com/full-tilt-poker-parent-company-hiring-again-31663">posted by another major Full Tilt subsidiary,</a> Pocket Kings LTD.</p> <p>And it’s all serving to bolster hopes that the Groupe Bernard Tapie acquisition deal is indeed going through.</p> <p>Orinic previously held a category 1 license with the AGCC, which did not allow the handling of online gaming funds.</p> <p>That license was suspended as a result of the hearings between Full Tilt Poker and the AGCC following Black Friday but Orinic was the only company within the Full Tilt family that wasn’t stripped of its operating license entirely.</p> <p>This latest license application was submitted on March 23 and is now approaching the end of a two-week window in which objections can be raised.</p> <p>Orinic was originally incorporated in Alderney in January, 2011 in order to bring Full Tilt Poker to Switzerland.</p> <p>Keep an eye on our <a target="_blank" href="/poker-news">Poker News Section</a> for more Full Tilt Poker news.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 03 Apr 2012 16:00:00 -0700 http://www.pokerlistings.com/full-tilt-subsidiary-seeks-agcc-gaming-license-97617 http://www.pokerlistings.com/full-tilt-subsidiary-seeks-agcc-gaming-license-97617 http://www.pokerlistings.com/full-tilt-subsidiary-seeks-agcc-gaming-license-97617#comments Law &amp; Business <p>Posted on April 3 <a href="http://www.jobs.ie/ApplyForJob.aspx?Id=1164662">on Jobs.ie</a> under a Pocket Kings Careers banner, the positions open are for Localization Specialists and Customer Service Reps in several languages.</p> <p>Offering 2-3 month contract roles that “may become permanent," the job responsibilities include the "localization of all Full Tilt Poker assets including online and off line marketing campaigns and IT focused projects.”</p> <p>Candidates are expected to review and maintain various language poker web sites and game clients, "ensuring that all content is localized and kept up to date and error free." First hand poker knowledge and passion for the game is required and experience working in the gaming fields is a plus.</p> <p>These roles are labeled urgent so candidates are expected to send in their CVs as soon as possible.</p> <p>Also currently being recruited for are Customer Service Team Leaders and Supervisors in several languages with all jobs based out of the Pocket Kings office in Dublin.</p> <p>Current languages required are German, Russian, Spanish, Italian, Portuguese, Dutch, French, Hungarian, Romanian, Polish, Swedish, Danish and Czech, suggesting a possible full relaunch of Full Tilt Poker across Europe.</p> <p>Rumors circulated last week <a href="http://www.pokerlistings.com/tapie-in-dublin-takeover-done-deal-according-to-p5s-17060">that Bernard Tapie Group Director Laurent Tapie had moved to Dublin</a> and plans were on track to relaunch Full Tilt Poker within the first two weeks of April.</p> <p>BTG lawyer Behn Dayanim, the de facto media contact for the Tapie Group over the last few months, has declined comment recently.</p> <p>The Pocket Kings company profile page on jobs.ie can be found <a href="http://www.pocketkingscareers.ie/">here</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 03 Apr 2012 09:22:07 -0700 http://www.pokerlistings.com/full-tilt-poker-parent-company-hiring-again-31663 http://www.pokerlistings.com/full-tilt-poker-parent-company-hiring-again-31663 http://www.pokerlistings.com/full-tilt-poker-parent-company-hiring-again-31663#comments Law &amp; Business <p>Elie, 32, agreed with US District Judge Lewis Kaplan, <a href="http://www.bloomberg.com/news/2012-03-26/online-poker-payment-processor-pleads-guilty-to-conspiracy-1-.html">upon prompting</a>, that his actions in processing payments for the poker sites was “wrong” and that he was pleading guilty for that reason.</p> <p>Elie was also facing charges for money laundering but only pleaded guilty to the one charge of conspiracy to commit bank fraud.</p> <p>That charge carries a maximum sentence of five years in prison, but Judge Kaplan said Elie has agreed to forfeit $500,000 of the profits made in processing the payments in exchange for a sentence of no longer than six to 12 months.</p> <p>Sentencing was set for Oct. 3 while Elie remains free on a $250,000 bond.</p> <p>John Campos, the Director of SunFirst Bank in Utah up on similar charges to Elie, has also reported now agreed to plead guilty to one charge.</p> <p>According to a <a href="http://www.forbes.com/sites/nathanvardi/2012/03/27/federal-prosecutors-dodge-online-poker-trial-by-handing-banker-a-misdemeanor-deal/">report from Forbes today</a>, Campos has agreed to "plead guilty to a single misdemeanor charge" with a maximum sentence of 0-6 months.</p> <p>Forbes speculates that by agreeing to let Campos plead to a misdemeanor charge, the DOJ is avoiding a trial that could affect the government’s remaining cases against the founders of PokerStars and Full Tilt Poker.</p> <p>Elie and Campos's trial date had been set for April 9.</p> <p>UPDATE: <a href="http://www.washingtonpost.com/national/judge-delays-decision-on-former-utah-bank-execs-guilty-plea-in-ny-federal-poker-prosecution/2012/03/28/gIQA15iHhS_story.html#">According to the Washington Post</a>, Judge Kaplan has refused to accept the Campos plea, saying the DOJ appears to be "walking away from the case" by allowing Campos to cop to a misdemeanor rather than a felony.</p> <p>Kaplan has ordered the prosecution to defend its decision in writing before making a final decision on the plea at a hearing June 27.</p> <p>Assistant US Attorney Arlo Devlin Brown says the decision to agree to the plea was based on legal opinions that say it may not have been illegal for payment processors to have accepted money.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 27 Mar 2012 09:40:11 -0700 http://www.pokerlistings.com/elie-pleads-guilty-to-black-friday-charge-92040 http://www.pokerlistings.com/elie-pleads-guilty-to-black-friday-charge-92040 http://www.pokerlistings.com/elie-pleads-guilty-to-black-friday-charge-92040#comments Law &amp; Business <p>The source, unnamed but reportedly “very well connected within the online and live poker communities,” <a href="http://www.pocketfives.com/articles/source-laurent-tapie-moved-dublin-acquisition-done-deal-587265/">told PocketFives on Sunday</a> that the Bernard Tapie Group and Full Tilt Poker are still “finalizing the deal with the U.S. Department of Justice,” but that the takeover is "a done deal.”</p> <p>The source added that Laurent Tapie has recently moved to and been working from Dublin, where the PocketKings offices are located, several days a week and that he is getting ready to reopen Full Tilt Poker in Europe.</p> <p>Despite it now being past the previous deadline set for March 23, the official deal “should be signed next week” the source says.</p> <p>Laurent, the son of BTG honcho and noted French politician and entrepreneur Bernard Tapie, has been in charge of the acquisition since the early negotiations which began back in September of last year.</p> <p>As recently as <a href="http://www.pokerlistings.com/daily-3-bet-birdguts-punked-dial-a-benza-ftp-relaunch-61122">last Thursday</a> BTG group lawyer Behn Dayanim informed us "sorry, no news," but multiple sources reportedly told Wicked Chops Insider that Full Tilt was in "ramp-up mode" and gearing up for a relaunch.</p> <p>No official announcement has been made by either Full Tilt Poker or the Bernard Tapie Group since FTP CEO Ray BItar <a href="http://www.pokerlistings.com/full-tilt-ceo-ray-bitar-apologizes-for-silence-30459">released an interview in early March</a> apologizing for his silence over the past year.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Sun, 25 Mar 2012 23:15:03 -0700 http://www.pokerlistings.com/tapie-in-dublin-takeover-done-deal-according-to-p5s-17060 http://www.pokerlistings.com/tapie-in-dublin-takeover-done-deal-according-to-p5s-17060 http://www.pokerlistings.com/tapie-in-dublin-takeover-done-deal-according-to-p5s-17060#comments Law &amp; Business <p>According to <a href="http://www.theaustralian.com.au/news/world/australian-supergrass-daniel-tzvetkoff-to-star-in-us-poker-trial/story-e6frg6so-1226306465923">TheAustralian.com</a>, the 29-year-old Tzvetkoff will "come out of hiding" next month for the trial and his documents are the centerpiece of the DOJ's case.</p> <p>Originally accused of stealing over $100 million by the poker companies themselves, Tzvetkoff was arrested in April 2010 in a Las Vegas casino and charged with laundering over $1 billion in payments from US players for the poker sites.</p> <p>Transferred to New York and facing 75 years in jail, Tzvetkoff struck a deal to be an informant for the US government and is now the star witness in their case against the three largest poker sites accused of taking payments from US players.</p> <p>Tzvetkoff has reportedly turned over 90,000 documents from Intabill, his processing company, including private emails that confirm the illegal transactions.</p> <p>Two defendants who have been arrested in the <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-boardorld/australian-supergrass-daniel-tzvetkoff-to-star-in-us-poker-trial/story-e6frg6so-1226306465923">Black Friday indictments</a>, Elie and Campos, are set to appear in court on money laundering and bank fraud charges and Tzvetkoff is scheduled to be a witness.</p> <p>Elie, 31, is charged with nine offences and if convicted faces a maximum sentence of 85 years. Campos, a 57-year-old executive from Utah's SunFirst Bank, is charged with six offences and faces 35 years in prison.</p> <p>Tzvetkoff was once considered a "whiz kid" in Australia and celebrated in the media for his lavish lifestyle including a $27 million home on the Gold Coast and several flashy sports cars along with sponsoring his own racing team.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 21 Mar 2012 09:00:00 -0700 http://www.pokerlistings.com/tzvetkoff-to-appear-at-upcoming-black-friday-trial-44832 http://www.pokerlistings.com/tzvetkoff-to-appear-at-upcoming-black-friday-trial-44832 http://www.pokerlistings.com/tzvetkoff-to-appear-at-upcoming-black-friday-trial-44832#comments Law &amp; Business <p>The company joins a growing list of online poker sites that have applied for Nevada licenses including 888 Holdings, St. Minver and Boss Media.</p> <p>There is a growing sentiment in the poker community that regulated online poker in the U.S. is coming and online poker rooms have been racing to align themselves with brick and mortar casinos in the U.S.</p> <p>Last year Bwin.Party announced a partnership with MGM Resorts and Boyd Gaming that would allow them to quickly enter the U.S. market once regulations are in place. Bwin.Party will own 65% of the venture while MGM will hold 25% and Boyd will control 10% percent.</p> <p>It’s a familiar strategy as 888 Holdings has partnered with Caesars Entertainment, the owner of the WSOP, and even the Golden Nugget has partnered with ChiliPoker.</p> <p><a target="_blank" href="http://www.pokerlistings.com/party-poker">PartyPoker</a> was once the biggest online poker site in the U.S. with a 50% market share but left the market in 2006 after the Unlawful Internet Gambling Act passed in the House and Senate.</p> <p>The void left by PartyPoker in the U.S. was quickly filled by PokerStars and Full Tilt Poker.</p> <p>The two sites eventually became the biggest <a target="_blank" href="http://www.pokerlistings.com/online-poker-rooms">online poker</a> sites in the world but Black Friday relegated PokerStars to Europe while Full Tilt has been down since failing to repay its players.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 09 Mar 2012 15:00:00 -0800 http://www.pokerlistings.com/bwin-party-seeks-nevada-gaming-license-17562 http://www.pokerlistings.com/bwin-party-seeks-nevada-gaming-license-17562 http://www.pokerlistings.com/bwin-party-seeks-nevada-gaming-license-17562#comments Law &amp; Business <p>“I would characterize my view as positive,” said Dayanim in an interview with PokerListings. “We are reasonably optimistic we can get this deal done over the next few weeks.”</p> <p>He was quick to point out that it was far from a done deal and there are still some hurdles that need to be overcome for the deal to succeed.</p> <p>“Any time you’re dealing with a company in distress, understanding the financial position of the company is incredibly important,” he said.</p> <p>According to Dayanim the deal is further complicated by the legal implications regarding the DOJ and both Full Tilt and the individuals behind the company. On top of that the deal involves parties from a number of jurisdictions.</p> <p>“All of those things together make this a complex deal and, frankly, the novelty makes it hard as well,” he said. “There has never been a deal like this.”</p> <p>One ongoing issue is the players who owe debts to Full Tilt. Last month Dayanim confirmed <a target="_blank" href="http://www.pokerlistings.com/tapie-confirms-unpaid-debts-may-block-full-tilt-deal-38995">19 players owed money</a> to the site including Phil Ivey, Erick Lindgren and Mike Matusow.</p> <p>Nothing has changed on that front, according to Dayanim.</p> <p>“It’s still an issue in that those debts have not been resolved,” he said. “We’re continuing to work on that. There are no new names to add to that list but we’re also not taking off any names from that list.”</p> <p>Dayanim went on to say the Bernard Tapie Group is optimistic it can work around that issue but it’s still a major problem.</p> <p>The deal is very important to the thousands of players with money trapped on Full Tilt and Dayanim mentioned the group is not taking the potential acquisition lightly.</p> <p>“This is a very important deal for the Tapie Group,” he said. “I will say that Laurent Tapie has been working tirelessly to make this deal happen over the last several months.”</p> <p>The Bernard Tapie Group surprised the poker world last year when it announced the massive International Poker Stadium Tour that would start with an event at Wembley Stadium complete with a €20,000,000 prizepool.</p> <p>Dayanim took the time to clarify the two are completely separate entities and the IPST is not contingent on the Full Tilt deal going through.</p> <p>Yesterday <a target="_blank" href="http://www.pokerlistings.com/full-tilt-ceo-ray-bitar-apologizes-for-silence-30459">Full Tilt CEO Ray Bitar broke his nearly year long silence</a> regarding the site and apologized to players from the extreme delay in getting players their funds back.</p> <p>Dayanim didn’t have many thoughts on Bitar’s disclosure.</p> <p>“I don’t see it as harmful in any way and I don’t see it impacting the deal in any way,” he said.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 07 Mar 2012 15:40:00 -0800 http://www.pokerlistings.com/btg-lawyer-still-optimistic-on-full-tilt-deal-68929 http://www.pokerlistings.com/btg-lawyer-still-optimistic-on-full-tilt-deal-68929 http://www.pokerlistings.com/btg-lawyer-still-optimistic-on-full-tilt-deal-68929#comments Law &amp; Business <p>In an <a target="_blank" href="http://www.pokerstrategy.com/news/world-of-poker/Exclusive:-Full-Tilt-Poker-CEO-Ray-Bitar-Apologizes-to-the-Poker-World_57346/">exclusive interview with PokerStrategy.com</a>, Bitar took the time to say sorry to all the players who had been affected by Black Friday and the subsequent closure of Full Tilt Poker.</p> <p>PokerStrategy.com asked Bitar why he hadn’t made any statements since Black Friday.</p> <p>“Ray Bitar: There are two reasons. One is the ongoing legal process which has precluded me from providing any relevant information surrounding the on-going investigation, and of course, I have not wanted to jeopardize the process in any way. While I could have made general statements throughout this process, they would not directly relate to the issues under investigation. Any such statements would be so general in nature that they would not provide answers to the many questions people understandably have. The second reason is that, along with others, I have been working every single day since Black Friday to ensure players are repaid, which has been my top priority, as well as working on the future plans of FTP. This work had to be done out of the scrutiny of the public eye. And so while it might satisfy people to have specific information about those ongoing discussions - and it would certainly take some of the heat off myself - I am convinced that such public statements would diminish the likelihood of a successful outcome, which is what we need to be focused on."View the complete interview <a target="_blank" href="http://www.pokerstrategy.com/news/world-of-poker/Exclusive:-Full-Tilt-Poker-CEO-Ray-Bitar-Apologizes-to-the-Poker-World_57346/">here</a>.</p> <p>Full Tilt Poker was forced out of the U.S. market last April when the DOJ came down hard on FTP, PokerStars and UB/Absolute Poker.</p> <p>FTP continued to operate in Europe before the Alderney Gambling Control Commission eventually suspended its operating license.</p> <p>In September, 2011, the DOJ called Full Tilt a “Ponzi” scheme and that its owners defrauded the players by misrepresenting to players that their deposits were actually on the site.</p> <p>The interview was only three questions long and Bitar mentioned he had been cooperating fully with the U.S. DOJ and doing everything in his effort ensure that Full Tilt survives and players get repaid.</p> <p>Bitar did not speak about the Bernard Tapie Group deal, Chris Ferguson, Phil Ivey or if the site would re-open any time soon.</p> <p>He did say that his silence was not an attempt to “hide” or “ignore” the situation but was done because his entire focus has been on reaching the best outcome for Full Tilt players.</p> <p>Bitar finished by saying he was hopeful he would soon have good news for players.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 06 Mar 2012 16:50:00 -0800 http://www.pokerlistings.com/full-tilt-ceo-ray-bitar-apologizes-for-silence-30459 http://www.pokerlistings.com/full-tilt-ceo-ray-bitar-apologizes-for-silence-30459 http://www.pokerlistings.com/full-tilt-ceo-ray-bitar-apologizes-for-silence-30459#comments Law &amp; Business <p>According to a <a href="http://calvinayre.com/2012/02/28/business/breaking-news-bodog-com-seized-by-homeland-security/">post on CalvinAyre.com</a>, the Department of Homeland Security had a sealed warrant for the seizure and the company only received notice via a "leaked VeriSign notice" sent to the international registrar for the domain.</p> <p>An official seizure notice is now up on Bodog.com.</p> <p>In an <a href="http://www.forbes.com/sites/nathanvardi/2012/02/28/feds-indict-former-online-gambling-billionaire-calvin-ayre/">article on Forbes.com</a>, writer Nathan Vardi says federal prosecutors have also unsealed an indictment against Ayre and charged him with "operating an illegal gambling business involving sports betting and conspiring to commit money laundering."</p> <p>According to Forbes, the focus is entriely on the sportsbetting operations and the movement of funds from accounts outside the U.S and poker is not mentioned.</p> <p>Three other Canadians involved with Bodog - James Philip, David Ferguson and Derrick Maloney - were also indicted.</p> <p>“Sports betting is illegal in Maryland, and federal law prohibits bookmakers from flouting that law simply because they are located outside the country,” US attorney Rod Rosenstein said in a statement.</p> <p>“Many of the harms that underlie gambling prohibitions are exacerbated when the enterprises operate over the internet without regulation.”</p> <p>The Bodog Brand for now seems unaffected as the Bodog.com site hasn’t been used for “active commerce” for quite some time and all Bodog-branded sites were moved to international domains recently.</p> <p>The US-facing site was <a href="http://www.pokerlistings.com/bodog-re-branding-in-us-as-bovada-84283">transferred to the Mohawk nation</a> at the end of last year and re-branded as Bovada.lv.</p> <div class="image-container image-landscape-size-medium image-position"><a class="lightbox" href="http://edge1.pokerlistings.com/assets/photos/calvin-ayre-6558.jpg"><img class="image-position image-landscape-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage320180-calvin-ayre-6558.jpg" alt="Calvin Ayre" width="320" height="180"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Bodog Founder Calvin Ayre.</div> <div class="image-osd-background"> </div> </div> </div> <p>Bodog Brand founder Ayre responded to the seizure in the blog and said:</p> <p>“Not sure what to say. BodogBrand.com is a brand-licensing organisation based outside the US.</p> <p>“The brand left the market last year and the domain in question has been dormant globally for longer than that.</p> <p>“We are only currently doing brand licensing deals outside the US so this domain had no place in any of our current plans.”</p> <p>Ayre continued on to say the current climate doesn’t leave international companies due process to protect their .com domains and the US government is using the seizures to clear the way for large Nevada casinos to dominate in a federally regulated market.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 28 Feb 2012 08:00:00 -0800 http://www.pokerlistings.com/us-gov-t-seizes-bodog-com-bodog-brand-shrugs-32937 http://www.pokerlistings.com/us-gov-t-seizes-bodog-com-bodog-brand-shrugs-32937 http://www.pokerlistings.com/us-gov-t-seizes-bodog-com-bodog-brand-shrugs-32937#comments Law &amp; Business <p>Speaking <a href="http://www.pokerstrategy.com/news/world-of-poker/Tapie-Lawyer:-Positive-progress-has-been-made.-_57107/">with pokerstrategy.com</a>, Dayanim said progress has been made towards completing the deal and they’ve chosen to extend the deadline past the end of February to continue the negotiation process.</p> <p>Said Dayanim:</p> <p>"We are very close to executing a deal and anticipate it happening over the next several weeks.</p> <p>“There was an expectation among the parties involved that we would conclude our discussions one way or the other by the end of February.</p> <p>“Positive progress has been made in recent talks, and each of the parties feels reasonably confident that we'll be able to reach a successful conclusion.</p> <p>“As such, everyone has agreed to let the process continue for a bit longer."</p> <p>As for the outstanding player debts, reported as around $16 million and <a href="http://www.pokerlistings.com/tapie-confirms-unpaid-debts-may-block-full-tilt-deal-38995">considered a major obstacle to the dea</a>l, Dayanim said talks with players are continuing and while some players have been working with them for a solution, others remain “recalcitrant.”</p> <p>Still, Dayanim says they are hopeful enough loans will be repaid to resolve the issue.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 27 Feb 2012 11:00:00 -0800 http://www.pokerlistings.com/tapie-group-lawyer-full-tilt-deal-very-close-71221 http://www.pokerlistings.com/tapie-group-lawyer-full-tilt-deal-very-close-71221 http://www.pokerlistings.com/tapie-group-lawyer-full-tilt-deal-very-close-71221#comments Law &amp; Business <p>Calling licensing an “arduous task” that requires significant resources and detailed scrutiny of company practices, Hollreiser says despite the effort obtaining the Malta license offers a clear benefit to the players, the industry and the company.</p> <p>“As countries around the world awaken to the advantages of online poker regulation,” Hollreiser writes, “a development that PokerStars has continuously supported, the industry will continue to wind its way through the complex web of rules that address everything from online security to taxation to consumer protection to corporate finance.</p> <p>“Sometimes these rules reflect existing regulation in other markets, sometimes they underscore the lack of clear rules elsewhere. That's why we support a regulated marketplace and seek licenses, which provides clarity to players and operators.</p> <p>Hollreiser says players in European markets will benefit from the new Malta license immediately - particularly in regards to taxation clarification offered to sites operating with licenses from EU nations.</p> <p>Hollreiser also emphasized that PokerStars will continue to protect player funds in segregated accounts separate from operating accounts.</p> <p>“We believe that each new license we obtain,” Hollreiser adds, “underscores the reasons why they should feel comfortable playing with us.</p> <p>“We don't know of any company in our industry that has been licensed by as many jurisdictions as PokerStars.”</p> <h3>Launch Expected Soon</h3> <p>The launch of the new .eu domain could come as early as next week. Sweden and Finland head the list of countries to be served by the new site.</p> <p>The announcement comes on the heels of PokerStars being approved for a license in Belgium this week.</p> <p>The following sites will continue to share a player pool:</p> PokerStars.com (including Spain) PokerStars.ee PokerStars.dk PokerStars.be PokerStars.eu <p>PokerStars.it and PokerStars.fr remain restricted to players from Italy and France, respectively.</p> <p>Read the <a href="http://www.pokerstarsblog.com/corporate_blog/2012/corporate-blog-more-positive-license-dev-090856.html">full post here</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 10 Feb 2012 08:30:00 -0800 http://www.pokerlistings.com/pokerstars-secures-malta-license-will-launch-pokerstars-eu-75697 http://www.pokerlistings.com/pokerstars-secures-malta-license-will-launch-pokerstars-eu-75697 http://www.pokerlistings.com/pokerstars-secures-malta-license-will-launch-pokerstars-eu-75697#comments Law &amp; Business <p>Responding to a <a href="http://www.pokerlistings.com/unpaid-pro-debts-serious-obstacle-in-ftp-deal-17999">recent interview</a> with BTG lawyer Behn Dayanim, Tapie <a href="http://www.igamingfrance.com/full-tilt-poker-laurent-tapie-sheds-a-light-on-the-goings-on-behind-the-scenes/26186">confirmed to iGamingFrance</a> that the unpaid debts of 19 poker pros, including Phil Ivey, Erick Lindgren and David Benyamine, could threaten the impending deal to purchase Full Tilt Poker's assets.</p> <p>The unresolved debt of $16.5 million is not something the Group is willing to take on, Tapie says, especially since the overall financial situation at Full Tilt is "worse than expected."</p> <p>Still, Tapie says they have reached out to all of the pros and some have even signed repayment contracts already. Some have yet to respond.</p> <p>Tapie also specifically said Full Tilt players will only be refunded if GBT completes the takeover, which will require "the bulk" of that money returned.</p> <p>If it isn't repaid, Tapie says it is true it could block the deal.</p> <p>Said Tapie, roughly translated:</p> <p>"The poker community, and particularly that made up of former Full Tilt players waiting to recover their funds, deserves to know the reality of the behaviour of some major poker figures who say they are ‘sorry for the situation of Full Tilt players and want to do everything they can to help them get their funds back, blaming the old management, but also refrain from saying how much they have borrowed from Full Tilt, and lost, playing on the site.</p> <p>"However these losses represent some of the funds owed to the players who are waiting to be reimbursed. When you are a poker player, a great player at that, recognised and admired, the basic rule, it seems to me, is to honour your gambling debts.</p> <p>"Fortunately, among the 19 players we have attempted to contact, some have immediately called back and worked with us on a repayment plan to clear their debts, and we are already finalising contracts to that effect."</p> <p>Read the rest of Tapie's comments at <a href="http://www.igamingfrance.com/full-tilt-poker-laurent-tapie-sheds-a-light-on-the-goings-on-behind-the-scenes/26186">iGamingFrance</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 03 Feb 2012 22:00:00 -0800 http://www.pokerlistings.com/tapie-confirms-unpaid-debts-may-block-full-tilt-deal-38995 http://www.pokerlistings.com/tapie-confirms-unpaid-debts-may-block-full-tilt-deal-38995 http://www.pokerlistings.com/tapie-confirms-unpaid-debts-may-block-full-tilt-deal-38995#comments Law &amp; Business <p>Calling the outstanding debts a <a href="http://www.pokerlistings.com/unpaid-pro-debts-serious-obstacle-in-ftp-deal-17999">"serious obstacle" to completing the deal</a>, Dayanim named several players including Phil Ivey, David Benyamine and Greenstein as having outstanding debts they are seeking to have paid before the takeover.</p> <p>Saying he's been inundated with calls from poker media, Greenstein said it would be easier if he responded in a public place and made a statement concerning his debt on 2+2:</p> <p>Statement below:</p> <p>"I borrowed $400,000 to play on Full Tilt a few years ago, before PokerStars had high stakes games. I didn’t pay it back, hoping that some people who owed me and had money on Full Tilt would pay me there so I could use that against the debt. (I'm only owed about $150,000 now).</p> <p>"I have assumed when this case is resolved, the DOJ will allow methods for dealing with debt to FTP.</p> <p>"Tapie Group contacted me last week and asked if I would pay them directly. Their attorney offered me the opportunity to pay in installments so I could have a chance to use money owed to me. He even offered me the opportunity to discount my debt if the US players don’t get paid in full"</p> <p>"I told him that I have never paid less than I owe on any debt and I would rather wait until the DOJ establishes a fund for the US players. I don't believe my debt has any impact on the sale to the Tapie group as they have alleged. </p> <p>"I was concerned about taking money due to US players and giving it to the Tapie Group because it is understood that the Tapie Group won't be the one paying the US players.</p> <p>"On the other hand, I realize that the total debt counting other players is substantial, especially because I would include in that tally any money taken from FTP once it had become insolvent."</p> <p>See the full post along with an excerpt from the letter Greenstein sent to FTP's attorney <a href="http://forumserver.twoplustwo.com/29/news-views-gossip/response-regarding-money-i-owe-full-tilt-1161767/">here</a>.</p> <p>Greenstein also suggested everyone who owes money to Full Tilt discusses it openly for "a better chance that they will make good on their debts" and so "money will end up in the pockets of players with balances on FTP."</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 02 Feb 2012 15:00:00 -0800 http://www.pokerlistings.com/greenstein-responds-to-ftp-debt-allegations-38658 http://www.pokerlistings.com/greenstein-responds-to-ftp-debt-allegations-38658 http://www.pokerlistings.com/greenstein-responds-to-ftp-debt-allegations-38658#comments Law &amp; Business <p>Behn Dayanim, the lawyer representing the Tapie Group, <a href="http://www.pokerstrategy.com/news/world-of-poker/Exclusive:-Groupe-Bernard-Tapie-Unable-to-Collect-Owed-Funds-from-Several-Pros_56256/">told pokerstrategy.com in an exclusive interview</a> that the due diligence process has revealed Full Tilt’s financial situation to be “substantially worse” than anticipated.</p> <p>In particular, outstanding debts to the company from pros including Phil Ivey, Mike Matusow, David Benyamine, Erick Lindgren and Barry Greenstein could be problematic.</p> <p>Said Dayanim:</p> <p>"GBT doesn't want to acquire assets which will need to be litigated over later. In total, the sum owed to the company is between $10 and $20 million. </p> <p>"Several of the players who owe money and have not yet expressed a willingness to pay their debts include Phil Ivey, Layne Flack, David Benyamine, and Erik Lindgren. Barry Greenstein, Mike Matusow, and others owe a smaller but still significant amount.</p> <p>"If the money doesn't come in, it creates a serious obstacle to completion of the deal."</p> <p>A signed agreement is in place between GBT and the US Department of Justice to purchase the assets of the former Full Tilt for $80 million, although the working through of several necessary conditions has taken more time than expected.</p> <p>As recently as this past week however, Groupe Director <a href="http://www.pokerlistings.com/tapie-slams-ferguson-rumors-deal-on-track-for-feb-86019">Laurent Tapie has said he expects</a> the deal to be completed by the end of February.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 02 Feb 2012 10:00:00 -0800 http://www.pokerlistings.com/unpaid-pro-debts-serious-obstacle-in-ftp-deal-17999 http://www.pokerlistings.com/unpaid-pro-debts-serious-obstacle-in-ftp-deal-17999 http://www.pokerlistings.com/unpaid-pro-debts-serious-obstacle-in-ftp-deal-17999#comments Law &amp; Business <p>In an <a href="http://www.igamingfrance.com/poker-news-of-chris-ferguson-blocking-ftp-takeover-is-totally-false-deal-should-happen-by-end-february/26157">interview with iGamingFrance</a>, the Director of the Bernard Tapie Group called the story “totally false” and said the deal is on track to be completed by the end of February.</p> <p>Said Tapie:</p> <p>"This (story) is totally false. Chris Ferguson has no problem with regard to the completion of the takeover agreement, which is now imminent.</p> <p>"Even if Chris Ferguson wanted to oppose it (which is not the case), he would not be able to because the agreement has already been validated.</p> <p>"Now that the due diligence process is nearly complete, and unless there are last minute surprises, we hope to do the deal by the end of February."</p> <p>The original story published by Subject: Poker involved the investigation of several bank accounts in the name of Pocket Kings Ltd that were ostensibly under the personal control of Ferguson and to which he “funneled” money.</p> <p>According to Subject: Poker, $14.3 million of an estimated $60 million was not withdrawn and instead was used to cover Full Tilt’s post-<a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> expenses.</p> <p>The insinuation of a possible delay came in the deal from the suggestion Ferguson and his lawyer Ian Imrich are seeking an accounting of the money spent post-Black Friday and may pursue legal action to reclaim any money “spent improperly.”</p> <p>As reported in the original story, this may or may not even be possible and no sources were named.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 01 Feb 2012 08:00:00 -0800 http://www.pokerlistings.com/tapie-slams-ferguson-rumors-deal-on-track-for-feb-86019 http://www.pokerlistings.com/tapie-slams-ferguson-rumors-deal-on-track-for-feb-86019 http://www.pokerlistings.com/tapie-slams-ferguson-rumors-deal-on-track-for-feb-86019#comments Law &amp; Business <p>According to Subject: Poker, over the last four years Ferguson transferred an additional $60 million in Full Tilt dividend payments (on top of the $25 million paid into his personal accounts) into accounts belonging to Pocket Kings Ltd.</p> <p>Those bank accounts were understood to be Ferguson's personal accounts it claims.</p> <p>Ferguson withdrew or moved $45 million of the money through various means, the report says, including transfers to other personal accounts, payments to his lawyer Ian Imrich, loans to other FTP shareholders and the purchasing of more FTP shares.</p> <p>According to Subject: Poker, $14.3 million of the $60 million was not withdrawn and instead was used with Ferguson’s approval to cover Full Tilt’s post-<a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> expenses.</p> <p>As for how the accounts could affect the impending deal, Subject: Poker sources say Ferguson and Imrich have been trying to recoup this $14.3 million and have threatened legal action to see an accounting of the money and reclaim any money “spent improperly.”</p> <p>This may or may not even be possible though, Subject: Poker says.</p> <p>The report also claims early versions of Full Tilt’s agreement with the Bernard Tapie Group included giving the equivalent in shares to Ferguson but that changed when the DOJ stipulated Full Tilt’s board of directors could not be involved in the new company.</p> <p>No sources have been officially named and neither Imrich or Ferguson were reached for comment.</p> <p>Read the <a href="http://www.subjectpoker.com/2012/01/chris-fergusons-secret-bank-accounts/">full report here</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 25 Jan 2012 20:00:00 -0800 http://www.pokerlistings.com/ferguson-accounts-could-impact-ftp-deal-31245 http://www.pokerlistings.com/ferguson-accounts-could-impact-ftp-deal-31245 http://www.pokerlistings.com/ferguson-accounts-could-impact-ftp-deal-31245#comments Law &amp; Business <p>According to <a href="http://allthingsd.com/20120120/zynga-confirms-it-is-seeking-partners-for-online-gambling-initiatives">writer Tricia Duryee's post</a>, a “Zynga spokesperson” provided the following statement in response to the question of a potential launch into real-money gaming:</p> <p>“We build games and experiences that our players want and love. Zynga Poker is the world’s largest online poker game with more than 7 million people playing every day and over 30 million each month.</p> <p>“We know from listening to our players that there’s an interest in the real money gambling market. We’re in active conversations with potential partners to better understand and explore this new opportunity.”</p> <p>No specific spokesperson was named and the statement is open to interpretation, but rumors of Zynga looking into partnerships with land-based casinos in the US have been circling for months.</p> <p>While US poker players are anxiously awaiting regulated <a href="http://www.pokerlistings.com/US-poker-rooms">US poker sites</a>, an ongoing interest has been the crossover potential from the massive play-money gaming pool on Zynga Poker.</p> <p>With an expected 10-20% conversion rate to real-money players should it become available, it could be the most substantial influx of new players into the poker economy since 2003.</p> <p>Zynga founder and CEO Mark Pincus also recently announced at a press event that the company was preparing to launch Zynga Casino with its first game expected to be bingo.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 20 Jan 2012 09:00:00 -0800 http://www.pokerlistings.com/zynga-confirms-interest-in-real-money-gambling-23310 http://www.pokerlistings.com/zynga-confirms-interest-in-real-money-gambling-23310 http://www.pokerlistings.com/zynga-confirms-interest-in-real-money-gambling-23310#comments Law &amp; Business <p><a href="http://www.courthousenews.com/2012/01/17/Poker.pdf">The complaint</a> names Excapsa Software, the company that controlled Ultimate Bet, and alleges that at least $20 million was stolen from customers of the online poker room. It goes on to assert that members of the site’s management were complicit in the theft.</p> <p>In addition to Excapsa, the complaint names 10 John Does and explains that while the plaintiffs are unable to prove who these 10 individuals are right now, they have suspicions and are working to amend the complaint with names when evidence is discovered.</p> <p>The plaintiffs in the complaint are named as Daniel Ashman of Cambridge, Massachusetts, Brad Booth of Vancouver, British Columbia, Thomas Koral of Skokie, Illinois, Greg Lavery of Madison, Wisconsin, Dave Lizmi of Baltimore, Maryland, Joseph Sanders of Lima, Peru, Daniel Smith of Bethesda, Maryland and Dustin Woolf of Los Angeles, California.</p> <p>While some of these names are familiar to mainstream poker fans thanks to televised appearances, all of them are or were high-stakes online poker professionals.</p> <p>This complaint seeks not only to recoup the players stolen funds, but also to compensate them for interference with prospective economic advantage, intentional infliction of emotional distress, unfair business practices, fraud and negligence, as well as to uncover the identities of those responsible at Ultimate Bet.</p> <p>The complaint’s supporting material reads as a detailed history of the Ultimate Bet super user scandal and investigation, clearly implicating founders and management of Ultimate Bet including Russ Hamilton, Greg Pierson, Jon Karl and Jack Bates.</p> <p>The complaint reads:</p> <p>Since at least June 2003 and until at least January 2008 Excapsa/UltimateBet did conspire to and did direct, effect, and permit the theft of over $2 million held in plaintiffs' online poker accounts at UltimateBet.com. Specifically, by creating and making use of an intentional a security flaw in the UltimateBet.com software, and with the assistance of owners, agents, and employees of Excapsa and its various subsidiaries that operated UltimateBet, defendants either allowed others to or did directly view plaintiffs 'hole cards' during high-stakes poker matches run at UltimateBet.com.</p> <p>With the assistance of owners, operators, officers, employees, and/or agents of Excapsa and its subsidiaries, the cheaters were further able to change their online identities to avoid detection and to improperly funnel their illicit proceeds through various UltimateBet accounts in a manner that would have been impossible without insider assistance. Through these activities, defendants stole or caused to be stolen at least 20 million dollars from plaintiffs and other high-stakes poker players at games run by UltimateBet.</p> <p>At this time, plaintiffs suspect but do not know the identities of Does 1-10. Evidence, some of which is discussed below, has arisen that some of the founders and management of UltimateBet and Excapsa, including Greg Pierson, Jon Karl, Jack Bates, Russ Hamilton, and others who formerly operated (and may continue to be involved in the operation of) UltimateBet were likely aware of or involved the conspiracy to cheat players. However, because the identities and activities of UltimateBet and those who have profited from its operations has been intentionally shielded though numerous agents, subsidiaries, and foreign corporations, it will be necessary to conduct significant discovery before a complete list of defendants can be identified. After such discovery, plaintiffs will seek to amend the complaint to add additional defendants.</p> <p>In "the UltimateBet.com online poker cheating scandal” plaintiffs and other high-stakes online poker players were cheated out of millions of dollars in crooked online poker games where their opponents (employees, agents, owners, and/or officers of Excapsa/UltimateBet) had illicit access to players 'hole' cards. Plaintiffs unknowingly played games of high-stakes poker with their cards essentially face-up. The facts underlying the case have already been the subject of intense public interest and media scrutiny, including a feature story on 60 Minutes, an investigative series by the Washington Post, a feature article by MSNBC, and hundreds of articles and news reports across the Internet.</p> <br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 17 Jan 2012 11:55:00 -0800 http://www.pokerlistings.com/rico-complaint-says-20m-stolen-in-ub-cheating-scandal-28236 http://www.pokerlistings.com/rico-complaint-says-20m-stolen-in-ub-cheating-scandal-28236 http://www.pokerlistings.com/rico-complaint-says-20m-stolen-in-ub-cheating-scandal-28236#comments Law &amp; Business <p>PokerStars.be, Partouche.be and Casino777.be will all be granted fully operational licenses in the country. </p> <p>Despite the .be domain, PokerStars.be and Casino777.be are expected to be the same as the .com versions meaning players in Belgium will be able to play against the rest of the world, unlike France and Italy.</p> <p>The one exception appears to be Partouche.be as the site is currently French-only, which means the .be version will likely be Belgium-only.</p> <p>Perhaps more interesting is the fact that Belgium has also created a “black list” of unauthorized <a target="_blank" href="http://www.pokerlistings.com/online-poker-rooms">online poker</a> sites. Sites on the list will be blocked by the four largest Internet Service Providers in Belgium.</p> <p>France has taken the same approach and recently made a ruling that all French ISPs must block unauthorized online poker sites.</p> <p>Despite the list, online poker giants such as PartyPoker and iPoker have stated the new laws are impossible to enforce and they will remain open to players from Belgium.</p> <p>The Belgium online gambling laws, which were passed in 2011, have received their share of criticism thanks to their restrictive nature. If Belgian poker player plays on an unapproved site they could potentially face criminal penalties.</p> <p>For its part the European Commission has voiced displeasure at the new Belgium online gambling laws claiming they go against Free Trade Agreement, which assures free trade across Europe. The EC has criticized France for the same reason in the past.</p> <p>Belgium is one of several countries that are looking to regulate online poker in 2012 including Germany, Spain and France.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 05 Jan 2012 11:00:00 -0800 http://www.pokerlistings.com/belgium-approves-3-poker-sites-plans-to-block-others-58985 http://www.pokerlistings.com/belgium-approves-3-poker-sites-plans-to-block-others-58985 http://www.pokerlistings.com/belgium-approves-3-poker-sites-plans-to-block-others-58985#comments Law &amp; Business <p>The memo was written as a response to requests from the states of Illinois and New York regarding interstate lottery sales back in September but only released to the public today.</p> <p>In it the DOJ reveals that its legal position, according to Assistant Attorney General Virginia Seitz, is that “interstate transmissions of wire communications that do not relate to a ‘sporting event of contest’ fall outside the reach of the Wire Act.”</p> <p>In theory, this moves online poker out of the scope of the Wire Act although no further clarification by the DOJ regarding poker was offered.</p> <p>THe DOJ also made it clear this was not inherently related to the enforcement of the UIGEA.</p> <p>The conclusion of the memo is included below:</p> <p>“Given that the Wire Act does not reach interstate transmissions of wire communications that do not relate to a ‘sporting event or contest,’ and that the state-run lotteries proposed by New York and Illinois do not involve sporting events or contests, we conclude that the Wire Act does not prohibit the lotteries described in these proposals.</p> <p>“In light of that conclusion, we need not consider how to reconcile the Wire Act with UIGEA, because the Wire Act does not apply in this situation.</p> <p>“Accordingly, we express no view about the proper interpretation or scope of UIGEA.”</p> <p>Online poker advocates such as the Poker Player's Alliance on jumping on the revelation, encouraging the Federal government to take it one step further and initiate fully legislated, interstate online poker.</p> <p>“State by state licensing and regulation," said former Senator and PPA member Alphonse D'Amato in a statement, "could result in a balkanized online poker world where players across the nation would be limited in their choices of where and against whom they could play. </p> <p>"This could potentially reduce the number of total players, reducing revenues state lawmakers project from this activity.</p> <p>"At the same time, it would deter entrepreneurs from entering the online poker market, as there would essentially be 50 different sets of laws and rules to which they would have to adhere.</p> <p>"We urge members of Congress to act quickly based on today’s announcement and pass legislation like H.R. 2366 to license and regulate online poker at the federal level."</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 23 Dec 2011 14:00:00 -0800 http://www.pokerlistings.com/doj-says-wire-act-only-applies-to-sports-betting-14642 http://www.pokerlistings.com/doj-says-wire-act-only-applies-to-sports-betting-14642 http://www.pokerlistings.com/doj-says-wire-act-only-applies-to-sports-betting-14642#comments Law &amp; Business <p>While still limited to just play within state borders and not yet open to players until Federal regulation is approved, it clears the way for gaming companies to be officially licensed to offer online poker in Nevada.</p> <p>The new regulatory framework forces applicants to prove they can control player registrations, prevent underage play and restrict players to in-state locations before they can be considered for a license.</p> <p>It also dictates the information companies have to show on their websites, how they will keep records and resolve disputes and how they will pay fees and be taxed.</p> <p>Information and support outlets for problem gambling also have to be provided.</p> <p>The new framework is the first comprehensive set of guidelines for online poker licensing in the US.</p> <p>At least six companies had previously initiated the licensing process with the state of Nevada including Bally’s Technology, South Point, Caesars Entertainment, International Game Technology, Shuffle Master and Cantor Gaming.</p> <p>Chairman of the Nevada Gaming Control Board Mark Liparelli says those companies will have "a smoother time moving forward" because they have already passed some essential checks.</p> <p>Liparelli said he expects one of those companies to be awarded the first actual license in the Spring.</p> <p>Added Cantor Gaming chief executive officer and president Lee Amaitis:</p> <p>“This is an important day for gaming control everywhere as Nevada again opens a path to a future that will benefit jurisdictions around the globe. </p> <p>"I feel privileged to share it with you.”</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 23 Dec 2011 08:00:00 -0800 http://www.pokerlistings.com/nevada-approves-regulations-for-online-poker-13471 http://www.pokerlistings.com/nevada-approves-regulations-for-online-poker-13471 http://www.pokerlistings.com/nevada-approves-regulations-for-online-poker-13471#comments Law &amp; Business <p>Beckley, one of the co-founders of Absolute Poker along with Scott Tom, appeared in Manhattan court today according to Bloomberg News and admitted to conspiring to break U.S. Internet gambling laws and conspiracy to commit bank fraud and wire fraud.</p> <p>The maximum prison sentence for bank fraud is 30 years but Beckley will likely serve 12-18 months under his plea agreement, Reuters says.</p> <p>"I knew that it was illegal to accept credit cards from players to gamble on the Internet," Beckley said before his plea, <a href="http://www.bloomberg.com/news/2011-12-20/online-poker-founder-beckley-pleads-guilty-in-fraud-case-1-.html">according to the report</a>.</p> <p>"I knew it was illegal to deceive the banks in this way."</p> <p>Beckley, also referred to as "Director of Payments" at the hearing, told Judge Ronald Ellis that Absolute Poker accepted credit cards from US players between 2006 and April 2011 and disguised the payments, contravening the UIGEA.</p> <p>Beckley admitted to hiring Ira Rubin in 2008 to process e-checks for Absolute as payroll processing, affiliate marketing or online electronics merchant transactions.</p> <p>Rubin is also said to be nearing a plea deal.</p> <p>Sentencing for Beckley is set for April 19.</p> <p>Beckley is one of eleven defendants in the case brought by the US Department of Justice against Poker Stars, Full Tilt Poker and Absolute Poker/UB.com on April 15th, now known as <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> in the poker industry.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 20 Dec 2011 08:00:00 -0800 http://www.pokerlistings.com/absolute-poker-co-owner-pleads-guilty-83960 http://www.pokerlistings.com/absolute-poker-co-owner-pleads-guilty-83960 http://www.pokerlistings.com/absolute-poker-co-owner-pleads-guilty-83960#comments Law &amp; Business <p>Called the PokerStars Player Protection Plan, this strategy will see the appointment of a fully independent UK trust company to oversee player funds. The trust company <a target="_self" href="content/poker-stars">PokerStars</a> has chosen is owned by IFG Group plc, an established financial services company with market listings in London and Dublin.</p> <p>PokerStars is introducing this plan in the closed French market first, but hopes it will become the industry standard across Europe. The <a target="_self" href="/online-poker-rooms">online poker</a> giant has already begun discussions to introduce the plan to regulated markets including Spain, Italy and Belgium.</p> <p>“The security of player accounts and the integrity of online poker play are fundamental to the ongoing and future success of the industry,” said PokerStars’ CEO Gabi Campos.</p> <p>“We are pleased to partner with the thought-leaders in European regulation to establish an industry-wide standard for ensuring player funds are protected,” he continued.</p> <p>Unlike Full Tilt Poker, PokerStars kept its player funds completely segregated from business assets, and was ready to repay players in the wake of Black Friday. This new plan is simply a more formalized version of that fund segregation, one that will be overseen by a third-party group.</p> <p>By installing a trusted third-party overseer, PokerStars has given its customers another avenue of recourse should problems arise.</p> <p>PokerStars has pledged that the third-party group will be regulated by the Financial Services Administration in the UK, and will ensure that player funds are kept in bank accounts in regulated banks with balances at least equal to outstanding amounts owed to players at any given time.</p> <p>Additionally, PokerStars has explained that it will be bearing any and all risks associated with the payment processors that handle deposits and withdrawals. That is to say, should a payment processor fail to transfer the money from a player deposit, PokerStars will still be responsible for crediting the segregated player fund accounts.</p> <p>For ongoing updates on Full Tilt Poker and everything that’s happening in the wake of Black Friday, keep an eye on our <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 16 Dec 2011 10:00:00 -0800 http://www.pokerlistings.com/pokerstars-unveils-new-player-protection-plan-83094 http://www.pokerlistings.com/pokerstars-unveils-new-player-protection-plan-83094 http://www.pokerlistings.com/pokerstars-unveils-new-player-protection-plan-83094#comments Law &amp; Business <p>The two groups executed an agreement to further transfer Full Tilt Poker’s assets to the French group. This comes roughly one month after <a href="http://www.pokerlistings.com/bernard-tapie-group-officially-acquires-full-tilt-63405">GBT successfully struck a deal with the DOJ to purchase forfeited FTP assets. </a></p> <p>According to that deal GBT will take on responsibility for repaying non-US players while the DOJ will facilitate the repayment of players within its borders. GBT paid a reported $80 million, taking on the estimated $150 million non-US player liability.</p> <p>This latest agreement was passed by a two-thirds majority vote by Full Tilt owners, according to Subject: Poker, and is thought to be an early, and relatively straightforward, step in what will be a long and very convoluted process.</p> <p>Subject: Poker also reported that Laurent Tapie personally appeared in Dublin to speak to Full Tilt Poker employees.</p> <p>The real forfeiture of FTP funds is expected to follow this agreement, as well as the dismissal of the civil charges against the companies that make up Full Tilt Poker that is essential to getting the poker room back online.</p> <p>And while this agreement marks an important step towards the DOJ dropping charges against FTP as a company, it will not effect the civil and criminal charges against the individuals involved in the mismanagement of Full Tilt Poker.</p> <p>For ongoing updates on Full Tilt Poker and everything that’s happening in the wake of Black Friday, keep an eye on our <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 15 Dec 2011 09:00:00 -0800 http://www.pokerlistings.com/gbt-and-ftp-reach-agreement-on-assets-35216 http://www.pokerlistings.com/gbt-and-ftp-reach-agreement-on-assets-35216 http://www.pokerlistings.com/gbt-and-ftp-reach-agreement-on-assets-35216#comments Law &amp; Business <p>Bodog had <a href="http://www.pokerlistings.com/bodog-to-withdraw-from-us-market-in-2012-73663">already announced this summer</a> it intended to transition the Bodog brand out of the US market by the end of December.</p> <p>The email, sent out yesterday, confirms the Bodog.eu website will no longer be offering its services to US customers as of December 14.</p> <p>The Morris Mohawk Gaming Group, Bodog's licensing agent in the US, will continue to provide the same operations as it did on Bodog via a new domain - www.bovada.lv.</p> <p>The .lv domain extension is the country code for Latvia.</p> <p>Below is the email sent out in full.</p> <p>Bodog.eu is changing - New Name, New Look, Same Great Service The Morris Mohawk Gaming Group's ("MMGG") brand licensing agreement with the Bodog Brand is expiring at the end of this year and as a result MMGG will no longer be offering its services using the bodog name or from the website, bodog.eu. From today, December 14th, MMGG will continue to operate as it has for over 4 years, just under its new name, BOVADA, at www. bovada.lv Your account and balance has automatically been transferred to the new website and you are able to log in to the site using your existing account details and password. PLEASE NOTE: As part of the transition process, there will be a scheduled outage overnight to both the old and new websites. </p> <p>We expect Bovada.lv to be live by 11:00am ET on December 14th, 2011. If you have any questions regarding your account or the new brand we ask that you contact the customer service team directly at 1-888-263-0000 or service @bovada.lv. We hope you enjoy the new site! Sincerely, Bodog.eu</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 14 Dec 2011 07:00:00 -0800 http://www.pokerlistings.com/bodog-re-branding-in-us-as-bovada-84283 http://www.pokerlistings.com/bodog-re-branding-in-us-as-bovada-84283 http://www.pokerlistings.com/bodog-re-branding-in-us-as-bovada-84283#comments Law &amp; Business <p>The review is intended to “provide full transparency” and “make the outcome public” in the best interests of players, license holders and the AGCC itself.</p> <p>Peter Dean, the former Chairman of the British Gambling Commission, has been appointed by the AGCC to conduct the review.</p> <p>André Wilsenach, Executive Director of the AGCC said:</p> <p>“As soon as we became aware that there were possible irregularities in relation to FTP’s operational integrity AGCC acted to discharge fully our statutory obligations.</p> <p>‘We believe we acted appropriately and fairly at all times but, following our own internal assessment and the inevitable questions that have been raised by third parties, the Commission decided that it is in the best interests of players, licence holders and AGCC itself to commission an independent review and to make the outcome public.”</p> <p>The three licences in question belonged to Vantage Limited, Filco Limited and Oxalic Limited, together trading as Full Tilt Poker.</p> <p>Dean will present his report and recommendations to the Commission by the end of March 2012.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 07 Dec 2011 08:00:00 -0800 http://www.pokerlistings.com/agcc-to-review-full-tilt-licensing-and-suspension-82280 http://www.pokerlistings.com/agcc-to-review-full-tilt-licensing-and-suspension-82280 http://www.pokerlistings.com/agcc-to-review-full-tilt-licensing-and-suspension-82280#comments Law &amp; Business <p>It’s been a big year for 888poker with a major software redesign and new exclusive features such as webcam tournaments, team tournaments, 3D graphics and private user-created games.</p> <p>Customers seem to have responded in a big way as <a target="_blank" href="http://www.pokerlistings.com/pacific-poker">888poker</a> reportedly had an increase of 122% in liquidity of active players over the year.</p> <p>"Winning the EGR Poker Operator of the Year is a great honor and reflection of a phenomenal year for 888poker,” said an 888poker representative.</p> <p>“We are committed to continuously enhance the playability at 888poker in order to give our consumers a poker offering that meets their needs, that's intuitive, simple and stands out from the crowd."</p> <p>Recent winners of the EGR Poker Operator of the Year include PKR in 2010 and bwin Poker in 2009. </p> <p>In addition to claiming Poker Operator of the Year, 888 was shortlisted for several awards including Affiliate Programme of the Year, Casino Operator of the Year, Innovation in Gaming, Marketing Campaign of the Year and Operator of the Year.</p> <p>It’s not the first time 888 has earned accolades from the <a target="_blank" href="http://www.pokerlistings.com/online-poker-rooms">online poker</a> industry. Leisure Reports, Egaming and the Gambling Online Magazine have all highlighted the company at various times.</p> <p>Founded in 1997, 888 has been involved in the online gambling industry for more than a decade and is now offered in 176 countries worldwide. The company is licensed and regulated by the government of Gibraltar and is listed on the London Stock Exchange.</p> <p>For more information be sure to check our <a target="_blank" href="http://www.pokerlistings.com/pacific-poker">888poker review</a>. The site is currently running a <a target="_blank" href="http://www.pokerlistings.com/freeroll-spotlight-888poker-offers-ten-on-top-15726">Ten on Top promotion</a> where players can instantly receive $10 for free, just for making their first deposit.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 06 Dec 2011 10:30:00 -0800 http://www.pokerlistings.com/888poker-gets-nod-as-2011-poker-operator-of-the-year-76682 http://www.pokerlistings.com/888poker-gets-nod-as-2011-poker-operator-of-the-year-76682 http://www.pokerlistings.com/888poker-gets-nod-as-2011-poker-operator-of-the-year-76682#comments Law &amp; Business <p>Presiding over a hearing today in Manhattan engineered by the lawyers of two of the lower-profile defendants in the case – Chad Elie and John Campos - Kaplan also said the chances of dismissal of the cases are slim.</p> <p>“I think it extraordinarily unlikely the entire indictment will be dismissed,” U.S. District Judge Lewis Kaplan said at the hearing, according to the report in <a href="http://www.businessweek.com/news/2011-12-01/online-gambling-trial-judge-unlikely-to-dismiss-indictment.html">Bloomberg Business Week</a>.</p> <p>Elie and Campos <a href="http://www.pokerlistings.com/campos-elie-fire-back-with-lawsuits-against-doj-99201">filed their motions for dismissal back in October</a> claiming the charges levied against them on <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> weren’t actually applicable.</p> <p>As to the UIGEA and Wire Act charges of offering online gambling services against federal law, the two are claiming poker doesn’t technically fall under either Act as it is primarily a game of skill and "not a gambling business."</p> <p>As for the separate charges of bank fraud and money laundering, the claim is that no bank was harmed in the process so no fraud had occurred.</p> <p>Judge Kaplan said he would rule later on the motion submitted by Elie and Campos and that a trial, if it comes to that, would start March 12.</p> <p>Eleven defendants in total are included under the case of U.S. v. Scheinberg, 10-cr-00336, U.S. District Court, Southern District of New York (Manhattan).</p> <p>Elie and Campos are the only defendants who have filed full motions to dismiss the charges</p> <p>Lederer and Furst File Claims, US District Court Extends Deadline</p> <p>Earlier this week both Howard Lederer and Rafe Furst joined Chris Ferguson in <a href="http://www.pokerlistings.com/ferguson-files-new-motions-to-reclaim-full-tilt-assets-84111">filing motions to claim seized bank accounts</a>.</p> <p>The US District Court for Southern New York also announced yesterday it has extended the deadline for Full Tilt Poker, PokerStars and Absolute Poker to respond to the amended complaint filed Sept. 21, 2011.</p> <p>Each company now has until Jan. 2, 2012, to respond to the amended complaint which added Full Tilt Poker owners Lederer, Ferguson and Furst to the civil complaint and famously <a href="http://www.pokerlistings.com/breaking-doj-calls-full-tilt-ponzi-scheme-claims-owners-defrauded-players-46671">accused Full Tilt Poker of being a Ponzi scheme</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 01 Dec 2011 08:00:00 -0800 http://www.pokerlistings.com/judge-sets-trial-date-for-black-friday-indictments-98261 http://www.pokerlistings.com/judge-sets-trial-date-for-black-friday-indictments-98261 http://www.pokerlistings.com/judge-sets-trial-date-for-black-friday-indictments-98261#comments Law &amp; Business <p>The report, (behind a <a href="http://www.egrmagazine.com/news/world_exclusive_facebook_in_exploratory_talks_to_open_real-money_gambling_in_uk">paywall at eGR</a> but covered in detail <a href="http://techcrunch.com/2011/11/30/facebook-in-talks-to-open-platform-for-real-money-gambling-in-the-uk/">here on TechCrunch</a>) says Facebook has spoken with up to 20 online gaming experts and potential facilitators over the last six months and is considering offering eight licenses for UK operators to offer real-money gambling apps.</p> <p>888 Holdings in the Mix</p> <p>Leading candidates among potential licensees are reportedly 888 Holdings, owner/operator of <a href="http://www.pokerlistings.com/pacific-poker">888 Poker</a>, and Gamesys, another well known UK online casino operator.</p> <p>According to eGR’s sources, TechCrunch says, Facebook has also begun "staffing up" for the launch and support of real-money gambling apps on its platform.</p> <p>eGR also speculated that Facebook is essentially using the UK as a trial run before rolling out real-money gambling apps across Europe.</p> <p>Facebook was notorious in the past for refusing to accept any advertising for online gambling operators but has recently opened up to gambling operators in certain countries.</p> <p>If Facebook is in fact planning a launch into real-money gambling it could be a real industry game changer.</p> <p>Facebook’s most popular poker app, Zynga Poker, has recently claimed it is not interested in pursuing real-money gambling but the free-play social media market offers a massive potential audience for real-money play with millions of daily users.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 30 Nov 2011 11:00:00 -0800 http://www.pokerlistings.com/facebook-angling-for-real-money-gambling-in-uk-81499 http://www.pokerlistings.com/facebook-angling-for-real-money-gambling-in-uk-81499 http://www.pokerlistings.com/facebook-angling-for-real-money-gambling-in-uk-81499#comments Law &amp; Business <p>According to a leaked Yahoo Finance story the Bernard Tapie Group has agreed to acquire FTP for $80 million in a deal brokered by the DOJ.</p> <p>As part of the deal FTP has agreed to forfeit its assets to the U.S. government, which then sold the assets to the Tapie Group.</p> <p>The French firm will take responsibility for the players outside of the U.S. who never got their deposits back from the site while the DOJ will return funds to American players.</p> <p>It was also revealed that Full Tilt shareholders will face no further prosecution. </p> <p>Full Tilt Co-Founder Ray Bitar has since released the following press release to PokerStrategy.com on the matter:</p> <p>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 for GBT to repay or make whole players outside of the United States and for the Department of Justice to permit United States players to request compensation out of the forfeited funds. Since Black Friday, repaying customers has been FTP’s number one priority. “I am extremely pleased with the efforts of the Department of Justice, and the Groupe Bernard Tapie corporation, and appreciate their continued dedication in  working towards a mutually beneficial agreement that will facilitate repayment of the players ." Now that the agreement with DOJ has been reached, GBT and Full Tilt Poker will now turn to memorializing the final terms of their agreement, to bring this matter to a complete resolution as soon as possible.  Full Tilt Poker would like to thank all its customers for their continued patience since Black Friday and during this negotiation process.</p> <p>For continuing updates on the status of US online poker and Full Tilt, keep an eye on our <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board.</a></p> <p> </p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 18 Nov 2011 11:00:00 -0800 http://www.pokerlistings.com/bernard-tapie-group-officially-acquires-full-tilt-63405 http://www.pokerlistings.com/bernard-tapie-group-officially-acquires-full-tilt-63405 http://www.pokerlistings.com/bernard-tapie-group-officially-acquires-full-tilt-63405#comments Law &amp; Business <p>Ferguson, who filed the documents with the United States District Court of Southern New York, is acting on behalf of the companies that comprise Full Tilt Poker, including Tiltware LLC, Pocket Kings Ltd, Vantage LTD, Kolyma Corporation A.V.V. and Filco Ltd.</p> <p>The documents outline accounts and amounts seized by the Department of Justice, and claim that Full Tilt’s companies have legal right to the assets under the Supplemental Rules for Admiralty and Maritime Claims.</p> <p>They go on to specify that the accounts contain funds deposited by Full Tilt Poker players and funds that were in the process of being returned to Full Tilt Poker players.</p> <p>There are numerous individual documents, corresponding to Full Tilt’s numerous companies. An example of one of the motions can be found <a href="http://docs.justia.com/cases/federal/district-courts/new-york/nysdce/1:2011cv02564/377900/111/0.pdf">here</a>. All the Black Friday legal documents filed so far can be found <a href="http://dockets.justia.com/docket/new-york/nysdce/1:2011cv02564/377900/">here.</a></p> <p>While the majority of the documents seek to regain control of seized assets, one seeks to add a new lawyer to Ferguson’s defense team.</p> <p>Ian J. Imrich, a Los Angeles based lawyer, will have to be admitted pro hac vice should he join Ferguson’s defense, since he is not licensed to practice law in the State of New York.</p> <p>Pro hac vice, Latin for “for this occasion”, allows out-of-state lawyers to practice law in a certain jurisdiction on a temporary basis.</p> <p>In his <a href="http://docs.justia.com/cases/federal/district-courts/new-york/nysdce/1:2011cv02564/377900/108/0.pdf">application to grant Imrich this special authorization</a>, Ferguson’s lawyer Jonathan Harris vouches for Imrich’s standing and ability, saying, “I have found Mr Imrich to be a skilled attorney and a person of integrity.”</p> <p>Harris also pointed to Imrich’s familiarity with federal practice and the Federal Rules of Procedure as reasons for allowing his involvement.</p> <p>For ongoing updates on everything related to Full Tilt Poker and Black Friday, keep an eye on PokerListings.com’s <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 16 Nov 2011 10:00:00 -0800 http://www.pokerlistings.com/ferguson-files-new-motions-to-reclaim-full-tilt-assets-84111 http://www.pokerlistings.com/ferguson-files-new-motions-to-reclaim-full-tilt-assets-84111 http://www.pokerlistings.com/ferguson-files-new-motions-to-reclaim-full-tilt-assets-84111#comments Law &amp; Business <p>That poker is still considered gambling in the eyes of US law.</p> <p>Calling on as diverse a range of precedents as the Kenny Rogers’ song “The Gambler” and an 1888 saloon trial, US attorney Preet Bhahara’s primary explanation for denial of the motions is that “Playing poker for money has, since the birth of the game in the 1800s, been treated both in American culture and law as a form of gambling.”</p> <p>By definition then, Bhahara contends, all of the <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> defendants violated US law - and specifically both the Illegal Gambling Business Act of 1970 (IGBA) and the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA).</p> <p>To make its case for denial of Elie's and Campos dismissal motions, the DOJ motion references 65 previous cases in US courts and 16 US statutes in the document.</p> <p>The DOJ’s full preliminary statement is included below:</p> <p>“Playing poker for money has, since the birth of the game in the 1800s, been treated both in American culture and law as a form of gambling. </p> <p>“Historically, states legislatures enacted laws that have either prohibited the operation of gambling businesses outright or subjected them to significant regulation, and state courts have regularly applied these gambling laws to poker rooms.</p> <p>“New York courts, for their part, have treated poker as illegal gambling in reported opinions dating back 100 years. Federal regulation of gambling is more recent, and has been explicitly crafted to build upon – not replace or alter – pre-existing state law.</p> <p>“Both the Illegal Gambling Businesses Act of 1970 (“IGBA”), 18 U.S.C. § 1955, and the Unlawful Internet Gambling Enforcement Act of 2006, 31 U.S.C §§ 5361-67 (“UIGEA”), incorporate by reference the gambling laws of states where the business at issue operates, and federal law too has therefore routinely been applied to poker businesses.</p> <p>“The 2006 enactment of UIGEA, which specifically criminalized the use of the United States. financial system to accept payments from gamblers, gave rise to the core of the conduct alleged in this Indictment. </p> <p>“The leading internet poker company of the pre-UIGEA era shut down its U.S. operation, and the founders of the gambling industry’s dominant payment processor were arrested.</p> <p>“The poker companies who rushed to fill the void encountered a daunting obstacle: there was no legitimate or easy way to obtain the billions of dollars from United States residents that was the lifeblood of their businesses. </p> <p>“So they engaged Elie and Campos, among others, to perform an indispensable service: find ways, by hook or crook, to move money from United States residents, through the United States financial system, to the offshore accounts of the poker companies.</p> <p>“They did so in violation of IGBA, the UIGEA and other federal statutes. Yet defendants argue in their motions to dismiss that the Indictment’s detailed allegations do not in fact allege the commission of any crime at all. </p> <p>“They claim that IGBA simply does not apply to poker, or at least is “ambiguous” in its application, notwithstanding longstanding precedent to the contrary at the state and federal levels. </p> <p>“Defendants then read UIGEA, which applies if anything more broadly than IGBA, to contain an implicit exemption for internet poker companies -- or, if not for the poker companies, for those who conspire with them to process payments -- based on a tortured construction of the statute at war with its plain language and clear legislative intent.</p> <p>“Elie, who is charged with a conspiracy to commit bank and wire fraud involving tricking banks into processing illegal transactions without their knowledge, nevertheless contends that this is not a federal crime since the banks earned fees and were thus not harmed by being deceived. </p> <p>“These conveniently cramped constructions of the statutes at issue are nothing more than exercises in wishful thinking. </p> <p>“If proven, the conduct alleged in the Indictment – a scheme through which the charged defendants abused the U.S. financial system in order to fund their illegal operations – amounts to clear violations of the statutes charged.”</p> <p>Campos and Elie are facing six and nine counts,, respectively under the current indictments and have plead not guilty to all counts.</p> <p>Read more about their <a href="http://www.pokerlistings.com/campos-elie-fire-back-with-lawsuits-against-doj-99201">motions for dismissal here</a> and the full DOJ motion for denial on <a href="http://pokerati.com/2011/11/10/doj-response-to-black-friday-response-lol/">Pokerati here</a>.</p> <br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 11 Nov 2011 09:00:00 -0800 http://www.pokerlistings.com/doj-on-elie-and-campos-motions-poker-is-still-gambling-12018 http://www.pokerlistings.com/doj-on-elie-and-campos-motions-poker-is-still-gambling-12018 http://www.pokerlistings.com/doj-on-elie-and-campos-motions-poker-is-still-gambling-12018#comments Law &amp; Business <p>In an interview with <a href="http://www.igamingfrance.com/full-tilt-poker-laurent-tapie-confirms-deal-with-doj-final-agreement-should-be-signed-in-next-15-days/25354">iGamingFrance</a>, Tapie also said he expects the final agreement to be drafted by the end of the week and should be signed within the next 15 days.</p> <p>The deal, which was originally reported on Tuesday, would see the Bernard Tapie Group reimburse European players while the DOJ would return U.S. player funds.</p> <p>Full Tilt CEO Ray Bitar initially broke news about the deal in an <a target="_blank" href="http://www.pokerlistings.com/bitar-email-says-full-tilt-deal-almost-done-92733">email to FTP shareholders</a>.</p> <p>In the past the Bernard Tapie Group has stated they are attempting to have the site up and running again by January 2012.</p> <p>It’s just another chapter to the ongoing Full Tilt Poker saga.</p> <p>Earlier this year Full Tilt was locked out of the U.S. market due to events of Black Friday. In the fall the site was shut down completely when the DOJ alleged Full Tilt was a Ponzi scheme and did not have cash to cover player deposits.</p> <p>The site is believed to owe over $150 million to U.S. players alone.</p> <p>For continuing updates on the status of US online poker and Full Tilt, keep an eye on our <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 03 Nov 2011 15:00:00 -0700 http://www.pokerlistings.com/tapie-group-full-tilt-doj-deal-in-15-days-60059 http://www.pokerlistings.com/tapie-group-full-tilt-doj-deal-in-15-days-60059 http://www.pokerlistings.com/tapie-group-full-tilt-doj-deal-in-15-days-60059#comments Law &amp; Business <p>As reported by <a href="http://www.subjectpoker.com/2011/11/breaking-gbt-doj-deal/">Subject Poker,</a> Bitar informed shareholders that the DOJ and BTG reached an agreement in principle that would see BTG take responsibility for repaying non-US players, while the DOJ would facilitate the return of US player funds.</p> <p>Subject Poker says the email has been confirmed by numerous sources, but doesn't elaborate on who those sources are.</p> <p>The DOJ’s consent was one of the biggest criteria of the conditional acquisition agreement between Bernard Tapie Group and Full Tilt Poker. With that consent, BTG is now free to finalize the acquisition and revive the now-defunct online poker room.</p> <p>The email in its entirety follows:</p> <p>Dear members,</p> <p>I am pleased to announce that today the Department of Justice and Groupe Bernard Tapie have reached an agreement in principle regarding the acquisition of the companies comprising FullTiltPoker. My understanding is the deal provides that in exchange for an agreed upon payment by GBT, and a GBT commitment to assume responsibility for payment of ROW players, DoJ will reimburse US players and settle the outstanding civil litigation with the companies comprising FTP. Beyond these conditions, issues like the time frame and process for repayment of players remain unclear at this point and time.</p> <p>With DoJ’s consent now in hand, GBT may now proceed to finalize an agreement to acquire the companies or assets that comprise FTP.  That agreement will very likely address the status of your shares or interests in the successor company. When I receive that agreement, I will coordinate with our attorneys to ensure the terms of that proposed agreement will be shared with the membership and voted on.</p> <p>-Ray</p> <p>For continuing updates on the status of US online poker and Full Tilt, keep an eye on our <a target="_self" href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday Bulletin Board.</a></p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 01 Nov 2011 12:30:00 -0700 http://www.pokerlistings.com/bitar-email-says-full-tilt-deal-almost-done-92733 http://www.pokerlistings.com/bitar-email-says-full-tilt-deal-almost-done-92733 http://www.pokerlistings.com/bitar-email-says-full-tilt-deal-almost-done-92733#comments Law &amp; Business <p>All three companies put out <a href="http://www.marketwatch.com/story/mgm-resorts-international-announces-agreement-with-bwinparty-2011-10-31">press releases today</a> to publicize the partnership and follow-up interviews with several news agencies have outlined how the agreement would work.</p> <p>According to a report on <a href="http://www.reuters.com/article/2011/10/31/casinos-online-idUSN1E79U1KR20111031">reuters.com</a>, once the proper regulatory framework has been enacted by the US government a still-to-be-named company will be formed by the three parties in which bwin.Party will own the majority share at 65%.</p> <p>MGM will hold 25%, Boyd Gaming will hold 10% and each entity will be responsible for the same percentage of start-up and operating costs.</p> <p>Both MGM and Boyd would offer <a href="http://www.pokerlistings.com/poker-games">poker games</a> under current bwin brands like <a href="http://www.pokerlistings.com/party-poker">Party Poker</a> and the WPT but each will also have licenses to use bwin’s existing software to offer products under their own brands.</p> <p>MGM’s own brand entities include the MGM Grand, Bellagio and Mandalay Bay properties in Las Vegas. Boyd Gaming owns 17 gaming entertainment properties across six states including the Borgata in Atlantic City and Sam's Town, The Orleans and Gold Coast casinos in Las Vegas.</p> <p>Said MGM Chief Executive Officer Jim Murren in his interview with Reuters:</p> <p>"There is now an overarching opinion in Washington that this (online poker legislation) needs to be addressed."</p> <p>bwin.Party CEO Jim Ryan, who recently publicized his <a href="http://www.pokerlistings.com/party-poker-angling-for-return-to-us-market-40379">active pursuit of partnership agreements with US casino companies</a>, added:</p> <p>“The intention of the joint venture is to take the PartyPoker brand and the World Poker Tour brand and our operating expertise and combine that with the regulatory expertise of MGM and Boyd.</p> <p>“Effectively you will have four brands in the U.S. and all four brands will be acquiring players and putting them in one hub, one poker network.”</p> <p>Added Keith Smith, chief executive of Boyd Gaming:</p> <p>“We believe that the right approach to offering legal <a href="http://www.pokerlistings.com/US-poker-rooms">online poker in the United States</a> is through a federal regulatory structure that ensures the games are conducted with the greatest possible integrity and security,” he said.</p> <p>“Should Congress enact legislation to legalize Internet poker, this agreement will allow us to partner with the world’s most experienced and prestigious online operator to offer a secure, fair and entertaining experience for players in the United States.”</p> <p>Bwin.Party is the largest publicly traded online gambling company in the world with reported revenue of $716 million last year.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Mon, 31 Oct 2011 20:00:00 -0700 http://www.pokerlistings.com/bwin-party-seal-deal-with-mgm-for-us-partnership-58958 http://www.pokerlistings.com/bwin-party-seal-deal-with-mgm-for-us-partnership-58958 http://www.pokerlistings.com/bwin-party-seal-deal-with-mgm-for-us-partnership-58958#comments Law &amp; Business <p>Details in the release are somewhat vague, but it does outline the idea that AP and UB’s parent company, Blanca Games, is planning to liquidate Blanca’s assets and distribute the proceeds.</p> <p>It wasn’t noted if the plan was to liquidate just the AP and UB.com assets or all of Blanca Games' assets, which also include other bingo and casino sites.</p> <p>The full statement as released by the KGC below:</p> <p>“Since the actions taken by the US Attorney’s Office for the Southern District of New York (the “SDNY”) on April 15, 2011, the Commission has been in close and regular discussions with its licensee, Blanca Games Inc. (“Blanca”), operating as Absolute Poker and UB.com (“AP/UB”), to facilitate the reimbursement of both US and non-US players. </p> <p>"The Commission has also received regular updates of discussions between AP/UB and the SDNY.</p> <p>"Over the past several weeks, we were advised of a potential solution prepared by Blanca and its representatives, establishing a process to liquidate Blanca’s assets and distribute proceeds to players. </p> <p>"We understand that this process  has been presented to SDNY for consideration and approval.</p> <p>"The Commission’s foremost concern in this matter has been, and remains, the reimbursement of both US and non-US players, as quickly and completely as possible.</p> <p>"To avoid further prejudice to affected players, the Commission has demanded that all parties complete their discussions and implement a reimbursement solution without further delay.”</p> <p>See the official PDF from the KGC <a href="http://www.gamingcommission.ca/news/pr10272011a.pdf">here</a>.</p> <p>The smallest of the three <a href="http://www.pokerlistings.com/US-poker-rooms">US poker sites</a> seized by the US Department of Justice on <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a>, AP and UB.com had reached an agreement with the DOJ back in May to release the two domain names back to the company and begin the player repayment process.</p> <p>Despite a trickle of payments over the first few days post-April 15th, AP and UB.com have been unable to process most withdrawal requests.</p> <p>Estimates put the amount owed to Cereus Network players at around $48 million US.</p> <p>An Absolute Poker spokesperson also released an exclusive statement to PocketFives.com that confirmed the company is "still in discussions" with the DOJ and that the distribution of funds to US players remains its "highest priority."</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Fri, 28 Oct 2011 16:00:00 -0700 http://www.pokerlistings.com/absolute-poker-and-ub-liquidating-assets-to-pay-players-76766 http://www.pokerlistings.com/absolute-poker-and-ub-liquidating-assets-to-pay-players-76766 http://www.pokerlistings.com/absolute-poker-and-ub-liquidating-assets-to-pay-players-76766#comments Law &amp; Business <p>"The problem that we have now seems to me very parallel to what we had in Prohibition," D'Amato said.</p> <p>"Billions of dollars that today flow across our borders and onto offshore websites could be kept here... yielding billions of dollars in revenue for the federal government, all without having to raise taxes."</p> <p>"We're well behind the rest of the world," said D'Amato. "If we do nothing, [the problems] will grow and we will have no opportunity to fix it.”</p> <p>Titled “Internet Gaming: Is There a Safe Bet?”, today's hearing drew together a wide range of experts to debate the merits of two proposed online gambling bills put before Congress recently, in particular one put forth by Rep. Joe Barton, and how best to begin integrating online poker back under the legal umbrella of the US government.</p> <p>The panel was chaired by Rep. Mary Bono Mack from California.</p> <p>Despite differing opinions on how proper regulation should be executed, all participants agreed that gambling is currently legal in 48 states (excluding Hawaii and Utah), Americans are still currently playing <a href="http://www.pokerlistings.com/online-poker-rooms">online poker</a> at offshore gambling sites despite <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> and that by regulating the industry significant tax revenue could stay in the country.</p> <p>Government oversight could also provide critical consumer protection, added D’Amato.</p> <p>“This legislation can't protect everybody at every time in every instance.</p> <p>“But it can go a long way towards protecting people who have no protection at all right now. It will be imperfect, but a heck of a lot better than what we have now."</p> <p>Rep. G.K. Butterfield, a Democrat from North Carolina, testified to poker being a part of the very fabric of America, similar to baseball and football.</p> <p>Rep. Barton used his introduction to the game as a child as another point in poker’s favor.</p> <p>"Poker is the all-American game,” Barton told the committee.</p> <p>“I learned to <a href="http://www.pokerlistings.com/play-poker">play poker</a>, believe it or not, in the Boy Scouts. If you learned something in the Boy Scouts, it has to be a good thing."</p> <p>By the end of the meeting, Rep. Bono Mack agreed potential jobs and tax revenues from online poker could be a great asset if gaming can be effectively regulated and negative societal costs can be minimized, but that there’s still a lot of investigating to do before a decision could be made.</p> <p>"A lot of questions need to be fleshed out further," Bono Mack said.</p> <p>The next step is for the expert witnesses called today to answer more questions from the committee over the next 10 days and a follow-up hearing will be held at a date to be determined.</p> <p>The full list of expert witnesses and transcripts of their testimonies can be found <a href="http://energycommerce.house.gov/hearings/hearingdetail.aspx?NewsID=9027">here</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 25 Oct 2011 22:00:00 -0700 http://www.pokerlistings.com/d-amato-likens-online-poker-to-prohibition-at-hearing-93149 http://www.pokerlistings.com/d-amato-likens-online-poker-to-prohibition-at-hearing-93149 http://www.pokerlistings.com/d-amato-likens-online-poker-to-prohibition-at-hearing-93149#comments Law &amp; Business <p>Originally estimated at $331 million USD, the AGCC is now saying that figure is more accurately the amount of funds that are now “unavailable” to Full Tilt, of which only a part is as a result of DOJ seizures.</p> <p>The estimated seized amount from other sources put the number closer to $159 million, with roughly $115 million seized prior to <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> and $44 million seized on April 15th itself.</p> <p>The AGCC contends the mistake is “not of significance” in its assessment of Full Tilt’s licensing suspension and eventual removal.</p> <p>The full statement as it appears on the AGCC website can be found below:</p> <p>“AGCC wishes to correct and clarify an erroneous statement contained in the Commission tribunal’s published determination notice of the hearing into Full Tilt, which includes the statement:</p> <p>“the individual seizures made by the Department of Justice during the period 28th June 2007 to 20th June 2011, which amount to a cumulative total of approximately $331 million US Dollars.”</p> <p>The underlying evidence in the hearing clearly demonstrated that $331 million was the total of funds unavailable to Full Tilt, of which DOJ seizures formed only a part.</p> <p>“The mis‐statement is thus not of significance in the Commission’s assessment of the matter.”</p> <p>See the original release from the AGCC <a href="http://gamblingcontrol.org/">here</a>.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Thu, 20 Oct 2011 07:00:00 -0700 http://www.pokerlistings.com/agcc-amends-doj-seizure-statement-75894 http://www.pokerlistings.com/agcc-amends-doj-seizure-statement-75894 http://www.pokerlistings.com/agcc-amends-doj-seizure-statement-75894#comments Law &amp; Business <p>According to an i<a href="http://www.forbes.com/sites/nathanvardi/2011/10/18/bwin-party-bets-on-america-again/">nterview with Ryan published on Forbes.com</a>, Ryan has been actively seeking partnership deals with at least two US companies over the last five weeks and has been driving a major point home in his presentation:</p> <p>Full Tilt and PokerStars are out and bwin.Party, the world’s largest publicly-traded online gambling company, is in.</p> <p>“My focus is on the U.S.” Ryan told Vardi. “Even though there is no guarantee that online gaming will ever regulate in the U.S.”</p> <p>Ryan has apparently been using a chart for his presentations that has PokerStars and Full Tilt crossed out in red, implying that the recent indictments have made it unlikely either will ever be allowed to do business in the US again.</p> <p>Of all the online poker brands left, then, Party Poker is the one with the most brand awareness in the US.</p> <p>After the passing of the <a href="http://www.pokerlistings.com/industry-speaks-out-after-passage-of-hr-4411-9158">UIGEA</a> in 2006, Party Poker was one of several brands to completely withdraw from the US market while PokerStars and Full Tilt continued to allow American players to sign up and play.</p> <p>Party Poker eventually also came to an agreement with the US Attorney's office, admitting its operations were in violation of US law. </p> <p>At the time, Party Poker struck a deal to pay the DOJ $105 million in exchange for not being prosecuted.</p> <p>Party Poker founder Anurag Dikshit <a href="http://www.pokerlistings.com/partygaming-founder-makes-doj-deal-34229">also reached a personal agreement with the DOJ</a> to repay over $300 million in return for not being prosecuted.</p> <p>Given the recent <a href="http://www.pokerlistings.com/blog/black-friday-bulletin-board">Black Friday</a> indictments of PokerStars, Full Tilt and Ultimate Bet/Absolute Poker, Party Gaming Attorney Behnam Dayanim also suggested that Party Poker “has been vindicated now in getting out when they did and in dealing with the Department of Justice.”</p> <p>Ryan said he is optimistic about <a href="http://www.pokerlistings.com/online-poker-rooms">online poker</a> returning to the US with major land-based casinos like MGM and Caesars now involved and actively lobbying in Washington.</p> <p>Still, Ryan suggests it may be on the state rather than federal level where regulation begins.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Wed, 19 Oct 2011 09:00:00 -0700 http://www.pokerlistings.com/party-poker-angling-for-return-to-us-market-40379 http://www.pokerlistings.com/party-poker-angling-for-return-to-us-market-40379 http://www.pokerlistings.com/party-poker-angling-for-return-to-us-market-40379#comments Law &amp; Business <p>While Bernard Tapie’s son Laurent has taken the reins with the media and in negotiations with the US Department of Justice, both the elder Tapie and an attorney for the company have weighed in in interviews with small details suggesting the Group's intentions.</p> <p>Combined with Laurent’s <a href="http://www.pokerlistings.com/laurent-tapie-ftp-could-be-back-up-by-january-2012-11692">interview last week with iGaming France</a> and now a New York Times reporter, a picture is slowly starting to emerge as to the nature of the ongoing negotiation and the possible future organization of the new company.</p> <p>Initial Response from Bernard Tapie Measured</p> <p>Enthusiasm in the poker community regarding <a href="http://www.pokerlistings.com/full-tilt-poker-sign-acquisition-agreement-with-bernard-tapie-group-19815">the agreement signed last week</a> was tempered after the elder Tapie spoke with Agence France Presse over the weekend.</p> <p>According to the interview, Tapie did confirm an exclusive agreement had been signed with FTP but that it’s far from either a done deal or a “full ownership” commitment.</p> <p>Tapie said his son Laurent has been tasked with determining the viability of the takeover and now has until the end of December to sort out the legal and technical issues with the DOJ to the Group’s satisfaction.</p> <p>Tapie also said if the deal goes ahead his Groupe would only retain a 5-10% stake in the new company and it would likely be held through the International Stadiums Poker Tour (ISPT), another organization the Groupe holds a 30% share in.</p> <p>The ISPT was founded in 2010 by Tapie and Prosper Masquelier, a former colleague at Partouche Interactive, which is an arm of the well-known French casino Partouche conglomerate.</p> <p>Information on the ISPT is somewhat scarce as of yet, but the ISPT.com website does feature a video clip promoting “the biggest poker event ever” allegedly coming to London’s Wembley Stadium from May 10-12, 2012.</p> <p>Billed as a $30 million guaranteed event, the promo video shows everything from a stadium full of people to electronic poker terminals and real poker tables spread across the stadium floor and a champion's trophy being handed out. Watch the video <a href="http://www.ispt.com/">here</a>.</p> <p>Calls to Wembley Stadium, however, confirmed the stadium is not yet booked for those dates.</p> <p>Regardless of the status of the ISPT’s events, Tapie did confirm that any deal regardless of the percentage is contingent on an agreeable settlement with the US Department of Justice.</p> <p>He has also now directed all media requests to his son Laurent.</p> <p>Laurent Tapie: "Full Tilt Poker is Injured But Not Dead"</p> <div class="image-container image-landscape-size-medium image-position"><a href="http://edge1.pokerlistings.com/assets/photos/LaurentTapie.jpg" class="lightbox"><img class="image-position image-landscape-size-medium" src="http://edge1.pokerlistings.com/assets/photos/_resampled/CroppedImage320180-LaurentTapie.jpg" alt="LaurentTapie" width="320" height="180"/></a> <div class="image-osd image-osd-compact"> <div class="image-osd-content">Laurent Tapie</div> <div class="image-osd-background"> </div> </div> </div> <p>Currently in the US to meet with the US Department of Justice, Laurent Tapie has reiterated in an <a href="http://bits.blogs.nytimes.com/2011/10/03/full-tilt-pokers-acquirer-shows-his-cards/">interview with New York Times reporter Matt Richtel published today</a>, that his plans are to bring Full Tilt Poker as a brand back to life.</p> <p>“Full Tilt Poker is injured but not dead,” he told Richtel.</p> <p>Tapie confirmed the company owes around $300 million to players around the world but that he feels players are the “key asset” and must be repaid in full for the deal goes through.</p> <p>“We are going to put all the money into the company we need to to please the players,” Tapie said. “They are the key asset, above all.”</p> <p>Tapie also confirmed that the Group would not continue with the acquisition unless there is an agreeable resolution to the civil matter with the Department of Justice.</p> <p>What the Group is looking for, he indicated, is a commitment from either the DOJ, current management or other investors to inject all or part of the money needed to repay players.</p> <p>Tapie also said some current employees or managers of Full Tilt could foreseeably continue on with the new compnay but none found guilty of a crime would stay.</p> <p>The company is also going forward based on the assumption online poker is still in legal limbo in the US and the US poker market will be closed to Full Tilt for at least the time being.</p> <p>One thing Tapie is counting on is a continued human desire to gamble.</p> <p>“It’s a natural instinct to gamble,” he told Richtel.</p> <p>“Gambling is something inside the human being. It’s something that’s inside of us. And online is something you can’t stop either.”</p> <p>Attorney Says Controlling Interest Would Be Held, May Offer Equity Stakes</p> <p>In <a href="http://online.wsj.com/article/SB10001424052970203791904576609333521473052.html?mod=googlenews_wsj">an interview with the Wall Street Journal</a>, Behnam Dayanim, an attorney for the Group, said the family is still interested in taking a controlling stake in Full Tilt if the proper deal can be arranged.</p> <p>Mr. Dayanim said it hasn't been determined how large an investment or stake Groupe Bernard Tapie would make.</p> <p>He did say the Group may address Full Tilt's liabilities by “offering equity in a revived company to poker players owed the most money.”</p> <p>Tapie Family No Stranger to Controversy</p> <p>While Laurent Tapie and Group attorneys are in New York meeting with the Department of Justice, more details about the Tapie's controversial past have also started to make their way across the Atlantic.</p> <p>Public figures in France for last few decades, both Bernard and Laurent are still somewhat unknown entities to the general North American public, let alone to the poker community at large.</p> <p>PokerListings.it reporter Giovanni Angioni compiled a brief history of the Tapie family and its controversial past for the benefit of our readers.</p> <p>Excerpts are posted below. For the full text in Italian, check it out <a href="http://www.pokerlistings.it/storia-della-famiglia-tapie-full-tilt-61387">here</a>.</p> <p>"Bernard Tapie, a Life Between Scandals and Corruption </p> <p>“Familiar to all football lovers now in their thirties, the smile of Bernard Tapie is one of the most significant symbols of the nineties in Southern Europe and the absurd excesses that accompanied us during that long decade.</p> <p>"Charming, rich, powerful: the Bernard Tapie that in 1992 managed to sit in the CEO chair at Adidas is the perfect incarnation of the European dream.</p> <p>"A transalpine response to the rising trend of Berlusconism in Italy, the power system created by Tapie in France was a formidable one.</p> <p>"Tapie succeeded in finding his way to the front pages by leading the football team of which he was president, Olympique Marseille, to the heights to which all fans still remember with nostalgia and regret.</p> <p>"While the climb of Olympique Marseille was unstoppable both nationally (with 5 titles) and internationally, the house of cards built by the entrepreneur born in the Parisian suburbs collapsed a few days after the triumph that marked the apex of Tapieismo – a Champions League win in Monaco against the AC Milan of Van Basten, Maldini, Baresi, Rijkaard and Fabio Capello on the bench.</p> <p>"Probably driven by the intention to compete with friend Silvio Berlusconi’s AC Milan in the best possible way, Bernard Tapie bribed some of the Valenciennes players before a league match with Marseilles to allow Marseilles to earn 2 points without the effort that might have risked their top players for the Champions League final.</p> <p>"The outcome of the investigation against Tapie - which then saw the sports fraud accompanied by a number of other irregularities ranging from corruption to non-transparent financial management of the team - condemned the former rising star of French finance first to a two-year sentence then reduced to six months' imprisonment which he served in 1997.</p> <p>"Fast forward 10 years and, his past somehow forgotten, the smiling prodigal son returned to prominence as a star of national public life in 2007 when, even as a member of the leftist French Radical Party, the entrepreneur publicly stated support for the candidacy of Nicolas Sarkozy as President of the Republic.</p> <p>"According to the journalists of the Canard Enchaîné, Tapie would have done so mainly due to a presidential promise to keep an indulgent eye on his troublesome and never clear relationship with the French fiscal system.</p> <p>"The return to the public scene of Mr. Tapie also coincided with the reappearance of the scandals that have accompanied him since the beginning of his career – the lthe most recent example even bringing accusations against French finance minister Christine Lagarde with it."</p> <p>"According to the indictment lodged against Ms. Lagarde, she abused her authority to help her friend Tapie solve his long court case with Credit Lyonnaise relating to the sale of Adidas in favor of a 400 million euro judgement in Tapie's favor.</p> <p>"Laurent Tapie, a Son Who Knows How to Use His Last Name </p> <p>"The first time the name of Laurent, privileged son of Bernard, earned the honor of appearing in the Transalpine 'yellow papers' was because of a scandal.</p> <p>"Last December 13, Tapie found himself the protagonist of an unfortunate car accident which ended with a complaint filed against him and charges of verbally and physically assaulting the accident victim.</p> <p>"Accident aside, Tapie had already gained his spot in French public life a long time ago.</p> <p>"Attracted by the area of ​​e-business and utilising the power of his family name, Laurent launched the now-defunct FreeGoal.com in 2000, a free sports portal that turned out to be powerful enough to attract an investment of 8 million francs by Canal +, publicly one of Bernard Tapie’s historic enemies as the owners of the Paris Saint Germain football team at the time of Bernard’s presidency with Marseilles.</p> <p>"Only five years later, the young Tapie decided to move into online gambling with the launch of LiveBetting.com, a site then bought by French giant Partouche – where he then got the role of Executive Director of Partouche Interactive.</p> <p>"Tapie soon ended his affiliation with the Partouche group and founded consumer website <a href="http://translate.googleusercontent.com/translate_c?hl=en&amp;rurl=translate.google.com&amp;sl=auto&amp;tl=en&amp;twu=1&amp;u=http://www.bernardtapie.com/&amp;usg=ALkJrhhxpeSzSsMENR9hpEop45P19sJfRQ">BernardTapie.com</a>.</p> <p>"Within a few months of its launch, however, the site ended up in the center of controversy for its somehow arbitrary management of the privacy of its members and for complaints of a monopoly ("it is impossible to get others the same bids Tapie’s father can have thanks to his network," said some French bloggers)</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 04 Oct 2011 09:00:00 -0700 http://www.pokerlistings.com/details-emerging-about-full-tilt-acquisition-36228 http://www.pokerlistings.com/details-emerging-about-full-tilt-acquisition-36228 http://www.pokerlistings.com/details-emerging-about-full-tilt-acquisition-36228#comments Law &amp; Business <p>Don't come to us.</p> <p>In the wake of the announcement of the license revocations last week, AGCC Executive Director Andre Wilsenach <a href="http://www.pokerlistings.com/bitar-files-claim-against-doj-agcc-blames-full-tilt-82975">made it clear</a> he thinks Full Tilt is entirely to blame for the situation and the AGCC was duped into believing false financial statements.</p> <p>As for what happens next, the AGCC has further clarified its position and posted another message on its website for Full Tilt players left in the lurch.</p> <p>Titled "On-going concerns of Full Tilt's registered players," below is the post in full.</p> <p>"Following the revocation of the licences, AGCC no longer has authority to intermediate or arbitrate on player issues or disputes with Full Tilt (excepting for players registered under a Swiss address).</p> <p>Players may have the following alternative options:-</p> <p>1. Full Tilt has been requested to provide a specific player contact: this is awaited and will be incorporated here upon receipt.</p> <p>2. Any player who believes they are a victim of crime, as a result of their dealings with Full Tilt, should in the first instance contact their own local police in their country of residence and report the matter to them. These reports will then be co-ordinated centrally.</p> <p> 3. It is understood that a number of civil actions have been initiated by players against Full Tilt, some as class actions representing multiple players by UK, US and Canadian lawyers. Details of the firms concerned can be found through internet search."</p> <p>No time frame for the appointment of a player contact has been given by either the AGCC or Full Tilt.</p><br /><br />Visit <a href="http://www.pokerlistings.com/" title="http://www.pokerlistings.com/">www.pokerlistings.com</a> Tue, 04 Oct 2011 08:00:00 -0700 http://www.pokerlistings.com/agcc-to-ftp-players-dont-come-to-us-48591 http://www.pokerlistings.com/agcc-to-ftp-players-dont-come-to-us-48591 http://www.pokerlistings.com/agcc-to-ftp-players-dont-come-to-us-48591#comments Law &amp; Business