Full Tilt Poker Acquisition Agreement Signed - Bernard Tapie

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Full Tilt Poker Acquisition Agreement Signed - Bernard Tapie

Postby tcs » Fri Oct 07, 2011 11:14 am

Reprinted below is the press release in full:

Full Tilt Poker and Groupe Bernard Tapie Sign Acquisition Agreement

Dublin, Ireland (September 30, 2011) Laurent Tapie, Managing Director of Groupe Bernard Tapie announced today that the group has signed an exclusive agreement with the Board of Directors of Full Tilt Poker to acquire the company and all of its associated assets.

This agreement, which includes the repayment of Full Tilt Poker’s world-wide players in full, is subject to several conditions; the first of which is a favorable resolution with the United States Department of Justice. Discussions with the United States Department of Justice will begin immediately.

Groupe Bernard Tapie has over 30 years of experience in the salvation of financially distressed businesses, with over 40 companies acquired and managed to profitability, the most well-known being the sport equipment giant, Adidas.

Updated 9:45 a.m. PDT: Laurent Tapie granted an exclusive interview with iGaming France to discuss the acquisition of Full Tilt Poker. According to iGaming France, the agreement includes "repayment of Full Tilt Poker's world-wide players in full, and is subject to several conditions; the first of which is a favorable resolution with the United States Department of Justice."

Tapie didn't disclose how much money the acquisition would cost his company, but did say he "wouldn't have undertaken such a project if he didn't believe in its potential."

He also told iGaming France, "We have shown that we have the funds necessary to repay player debts. We want to find ways where we don’t have to put in all the money and will be talking to the US Department of Justice next week."

It seems Tapie believes in the Full Tilt Poker brand and said he would keep it. "The brand is not in question, it’s a well-known brand and the technology is widely recognized as being possibly the best in the industry. The management of the company is being questioned and it will be changed (should the takeover be concluded). I believe we have the tools necessary to once again make the site one of the leaders in the online poker sector."

According to iGaming France, he hopes to have the site reopened by Jan. 2012.


Read more: http://www.pokernews.com/news/2011/09/f ... -11134.htm



Other Quotable Quotes

TCS: hope that they can return back my money..

Daniel Negreanu: "Not a fan of the Lederer family. That brother, sister duo was behind the two biggest scandals in poker history," he said in a WCOOP chat.

Tony G: "No mention of Ivey in the documents. I believe we have our inside man."

Tony Dunst: "Feeling worse by the day about the money in my FTP account. Feeling better by the day that I declined being a red pro. #F***scammers"

Kathy Liebert: "I'm happy I never had any deals with FTP. I still can't believe all that player money stolen...so wrong."

"I don't believe all of Team FTP is responsible for the theft but they are responsible to return the millions they received."

Jon Aguiar: "With every day Phil remains silent more questions and rumors emerge about him, the latest ones being that he is an informant (unlikely) and that he has a substantial fortune that remains untouched, roughly equivalent to the fortunes stolen by the other board members. I've been a huge Ivey fan my whole poker life, but with every day that rumors fly with no answers it becomes harder and harder to have blind faith in my hero," he told PokerNews.

"Tom [Dwan] has received a lot of criticism for how he handled things, but put it this way: name someone who wore FTP patches and handled it better! Not a single dollar has been pledged by any of the numerous Full Tilt pros who now know without question that their dividends were simply players deposits and not profits from the business. There are few people in poker with the moral compass he was born with."

Adam Junglen: "If I ever get my FTP money my family is getting the sickest Christmas ever."

Dan O'Brien: "I really don't have much of a reaction. Obviously, it's extremely frustrating to be taken advantage of by some of the execs there, but it's been pretty clear to me for a while that they misallocated the funds and were trying to figure some way around it once they got closed up. A lot of the top Full Tilt pros are total douche bags, but that's not really news either. They have the money to promote themselves so people stay interested in them and poker reporting sites therefore continually run stories on them, but they've been pretty irrelevant in the professional poker world for a long time," O'Brien told PokerNews.

"As for the Ponzi scheme accusation by the U.S. government, that's more dramatization than fact from what I've seen. If Tilt was allowed to continue operating, it likely would have been able to pay back accounts down the road much like a bank does. So again while it was extremely deceitful and unacceptable, it doesn't appear to be a "Ponzi scheme." The government seems to be trying to rally support against the company, perhaps in an effort to absolve itself for putting us in this position to begin with. When you create a black market for a high demand item through an absurd set of laws, these things happen and it shouldn't be a huge surprise to anyone."

@PokerGrump: "I wonder if Preet Bharara is going to get Full Tilt t-shirts for knocking out three red pros."


Read more: http://www.pokernews.com/news/2011/09/p ... -11103.htm
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Re: Full Tilt Poker Acquisition Agreement Signed - Bernard T

Postby tcs » Fri Oct 07, 2011 11:15 am

lets see how it goes whether the new owner can return back all the loss.
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Re: Full Tilt Poker Acquisition Agreement Signed - Bernard T

Postby DM101 » Fri Oct 07, 2011 11:37 am

tcs wrote:lets see how it goes whether the new owner can return back all the loss.


I believe that we have to DANG KU KU before getting our $ back. :shock:
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Re: Full Tilt Poker Acquisition Agreement Signed - Bernard T

Postby tcs » Fri Oct 07, 2011 12:05 pm

DM101 wrote:
tcs wrote:lets see how it goes whether the new owner can return back all the loss.


I believe that we have to DANG KU KU before getting our $ back. :shock:


dang ku ku (wait long long)? haha.
bro please check pm
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