Poker Forum
Full Tilt Poker Acquisition Agreement Signed with Bernard Tapie Group (UPDATED)
On Friday, Full Tilt Poker announced on PokerStrategy.com that an acquisition agreement was signed with the Bernard Tapie Group. This comes just one day after the Alderney Gambling Control Commission revoked Full Tilt Poker's license.
The announcement was made by Laurent Tapie, managing director of the Bernard Tapie Group.
Laurent Tapie is the son of Bernard Tapie, a French businessman and politician. Bernard Tapie is credited with rebuilding a number of bankrupt companies and making them profitable. His most famous is Adidas, which he owned from 1990 to 1993. He also owned a cycling team...
bluestone77I'm happy for all who will get there money now (assuming the deal goes through). However, I don't see any reason to trust the new crook anymore than the old ones. A history of fixing games for monetary gain coupled with FTP? Frankly, that's a terrible prospect for the future of FTP. Again, as long as players get their $$ I'm happy. Take your money and get out of Dodge.
09-30-2011 10:06
Deep pockets have bought a great company and since they specialize with takeovers ... the management will be changed 100%. Good news for sure.
flintsword
"The lucky player is usually the player that knows how much to leave to chance."
www.myspace.com/flintsword
09-30-2011 10:07
flintsword
KeithwoernleOk, so this addresses the problem of player funds. FTP new management can now do a Mea Culpa and promise the U.S. DOJ to not interfere with their plans to impose a Poker Prohibition in the U.S.
So ... the bottom line (after the dust settles) is that the DOJ has chased out a billion dollar business model out of the U.S. (which has not had the legislative intelligence to develop regulations) into the arms of France (which is smart enough to pass innovative online poker legislation) creating a Niagra Falls of tax revenue for France. I guess the U.S. just does not need a few hundred million in easy tax revenue.
The bottom bottom line is that the DOJ is forcing the MIGRATION of talented poker-playing U.S. citizens because of the Poker Prohibition currently being set up in the U.S.
Nice to hear that players are getting their money, but let's not forget that there is the question of deposits FTP made into player accounts without withdrawing funds. The good thing about a serious business group taking over is that all these bogus seat-of-your-pants accounting practices will be gone (along w the so-called management) and a serious audit by a real accounting firm will sort out reality from fiction.
The DOJ wins because in reality it is their pressure that caused FTP to sell to real business people.
The former owners of FTP might also win in a big way because they could well keep the hundreds of millions they received from FTP.
I can hardly wait for the movie!
flintsword
"The lucky player is usually the player that knows how much to leave to chance."
www.myspace.com/flintsword
09-30-2011 10:39
Bernard Tapie has defrauded in the past so his buying FullTilt is just passing the name from one set of crooks to another...pretty sure the conditions of the sale will not be met and the deal will fall through. Is this a decoy move by the current management? Possibly...why would anyone consider buying a damaged name with huge debt from the onset? If it smells like fish, its rotten
09-30-2011 17:34
lol ... have you seen the new ADIDAS ads on TV? [Tapis rescued Adidas from bankruptcy in the 1990's ...]
"ADIDAS is all in" It just gets better and better from the spectator's point of view 
flintsword
"The lucky player is usually the player that knows how much to leave to chance."
www.myspace.com/flintsword
09-30-2011 19:15
I think people are making too much of the soccer match fixing by Bernard Tapie.
1. It was almost 20 years ago.
2. The guy did his time.
3. Bernard Tapie Group won't be be expecting to make much money via Full Tilt Poker profits. They probably won't see any profits the first couple of years. They'll make their money when the brand is healthy again, and they can sell Full Tilt Poker for a nice profit.
4. I doubt Bernard will have much say in what goes on with Full Tilt Poker. Sounds like it's his son's baby.
10-01-2011 08:21
5. It's harder to fix online poker results, thanks to poker tracking software.
6. Full Tilt Poker's software doesn't allow for anyone to see what's happening until after the hand is completed, and the hand history is created.
10-01-2011 08:25
Wonder if Howard and the boys thinks this gets them off the hook! 
Hope they get what is coming to them. 
While I am very happy if the players get their money back, a serious crime has been committed. The only reason they were working their asses off was to avoid Jail time. I don't think they deserve a break and prison sentences for everybody!!
10-01-2011 14:49
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10-04-2011 06:32
seems the tapies want bitar, lederer to remain with fulltilt without management rights?
10-04-2011 08:44
howard and ray...you can manage from prison. and tapies will not pay off the most owed players and offer them equity shares...lol
10-04-2011 08:46
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10-07-2011 05:46
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