http://pokermaps.com/blogs/blog/ Print magazine and website provides a search engine for finding home games, poker forum, articles and blog. PokerMaps.com connects home game poker players, with local home game poker host and profiles a new home game each month. en Tue, 21 May 2013 03:47:50 GMT vBulletin 60 http://pokermaps.com/images/styles/TotallyPro/misc/rss.jpg http://pokermaps.com/blogs/blog/ http://pokermaps.com/blogs/blog/159-132-domain-names-seized-kentucky-news.html Sun, 01 Apr 2012 06:26:40 GMT /images/crunk/news/kcoj_seal.gifJudge Thomas Wingate ordered the seizure of 132 gambling domain names. But, the order wasn’t just to the registrars,... Judge Thomas Wingate ordered the seizure of 132 gambling domain names. But, the order wasn’t just to the registrars, it named the registry as well, Verisign.

The problem exists whether or not gambling sites constitute being by definition a gambling device. Quite effectively argued, the Internet Commerce Association took the stand that many of the sites offered only games of skill like poker. Also pointing out that poker is indeed legal in Kentucky.

Within 12 very decisive points, Judge Wingate addressed this particular issue in item number 6 when it clearly states, “The Court finds that evidence presented by the Commonwealth does establish by a preponderance of the evidence, ‘indeed by overwhelming evidence’, that the domain defendants are gambling devices and gambling records in violation of Kentucky statutes and therefore can be forfeited.”

Since the beginning of this issue, site owners and registrars have not taken the notifications too seriously. Some have complied. But for the most part, these notifications have gone unheeded.

In August of 2008, the Commonwealth of Kentucky launched a sting to see whether or not offshore gaming sites would allow Kentucky residents to conduct transactions. 141 sites were found to be in violation of the Kentucky statutes. However, FullTiltPoker.com, PokerStars.com, AbsolutePoker.com, UltimateBet.com, DoylesRoom.com, TruePoker.com, Bookmaker.com and Bodog.com have been seized by the Federal Government and have been thus removed from Kentucky’s list, having the Federal Government itself to deal with in their own cases.

As Kentucky cracks down and seems to have won for the day, the focus has shifted from .com domains. Because of the fact that most servers of .com domains are based in the U.S. and fall under the jurisdiction of the U.S. Commerce Department, most in the online gaming world are wondering if it wouldn’t just be more feasible to go to .eu domains. They don’t fall under the jurisdiction of the U.S. Department of Justice.

As this case has proceeded, at one time it was sent back to the lower courts because an appellate court ruled that domain names weren’t gambling devices. But, prosecutors returned with further arguments and maintained their stance against online gambling. Obviously with the Kentucky Derby, gambling isn’t frowned upon in Kentucky. Just when the money isn’t staying in Kentucky. ]]> blog http://pokermaps.com/blogs/blog/159-132-domain-names-seized-kentucky-news.html http://pokermaps.com/blogs/blog/130-bwin-party-launches-ipad-app.html Fri, 23 Mar 2012 03:41:32 GMT This week, bwin.party digital entertainment became the latest online gaming operator to launch a real money poker app for the iPad. The release comes... This week, bwin.party digital entertainment became the latest online gaming operator to launch a real money poker app for the iPad. The release comes more than a year after the company unveiled a real money platform for iPhone and Android devices. The iPad software is based on those models.
“The bwin iPad Poker app gives bwin.com customers unrestricted access to the bwin poker account — now with the full iPad resolution of 1,024 by 768 pixels,” said Berthold Kao, head of bwin.party’s mobile, touch and video department.
“The bwin iPad Poker app extends our lead in mobile entertainment on tablet devices and builds on our hugely successful iPhone Poker app that bwin.party designs with its own mobile development teams. Together with the bwin Sports App for pre-event and live betting enthusiasts and several Casino games for Android and iPhone as well as Java based phones, we now offer our customers an exciting portfolio of games.”
The app can be downloaded from the iTunes Store or the Bwin website, with one download covering both the iPhone and iPad versions of the game. ]]> blog http://pokermaps.com/blogs/blog/130-bwin-party-launches-ipad-app.html http://pokermaps.com/blogs/blog/92-shuffle-master-announces-purchase-ongame.html Wed, 07 Mar 2012 15:05:59 GMT http://3.bp.blogspot.com/_ygT7XlDAr-k/TK-QHccEpTI/AAAAAAAAAuc/lkrvF2s4XBw/s400/ongame-logo.jpgAn announcement was made yesterday that Nevada-based... An announcement was made yesterday that Nevada-based global gaming supplier Shuffle Master plans to purchase the Ongame Network from bwin.party for €19.5 million. The deal anticipates the legalization of online poker in the US, as the agreement contains a clause stating bwin.party will receive an additional €10 million if US poker legislation passes within 5 years of the deal’s closing. The purchase is to close within 9 months of this announcement. Rumors were already making the rounds about the acquisition after Shuffle Master applied for a Nevada internet gambling license in the past few weeks. Shuffle Master provides casinos worldwide with equipment such as automatic shuffling machines, roulette chip sorters, proprietary table games as well as electronic gaming machines.

This latest development adds to the list of brick-and-mortar gaming companies in the US making deals with online poker sites, such as Caesar’s partnership with 888, bwin.party’s arragements with MGM and Boyd, ChiliGaming with the Golden Nugget, as well as Ladbrokes acquiring 65% of stock in Las Vegas company Stadium Technology. Businesses are clearly anticipating online poker legislation to pass in the near future, and are preparing themselves to grab their slice of what they see as one of the most profitable markets in the world.

Shuffle Master’s CEO says that the Ongame Network makes a great fit with their company’s B2B (Business-to-Business) orientation: “I am confident that Ongame will fit seamlessly into our ongoing interactive initiatives of delivering our renowned brands to online gaming operators, partner web sites, social networks and mobile platforms. Poker is a natural fit for our table-centric online offerings and our many jurisdictional licenses present a compelling opportunity for our current and future online customers.”

bwin’s own poker games are not expected to stay with the new Ongame Network (currently 5th in the world), and since bwin’s games make up for a large portion of Ongame’s traffic, it remains to be seen how Ongame fares without them. Ongame’s managing director Peter Bertilsson said about the deal, “We believe that our experience and expertise in the European market is a natural fit with Shuffle Master’s considerable commitment and history in developing innovative games and products for land based operators. I am confident that together, our organizations are going to be able to develop the very best in new and innovative solutions for the iGaming market.” ]]> blog http://pokermaps.com/blogs/blog/92-shuffle-master-announces-purchase-ongame.html http://pokermaps.com/blogs/blog/91-bodog-com-seized-%96-calvin-ayre-indicted.html Thu, 01 Mar 2012 01:59:33 GMT http://blstb.msn.com/i/FD/D142AF29313BA65EE749B60F9C86B.jpgBreaking news – BodogBrand has confirmed that the Bodog.com domain name has been seized by... Breaking news – BodogBrand has confirmed that the Bodog.com domain name has been seized by US Department of Homeland Security. Shortly following, it became known that Calvin Ayre, the founder of Bodog, has been indicted as of this morning for charges of operating an illegal gambling business and conspiring to commit money laundering.

Forbes has reported that the indictment charges claim that he collaborated with James Phillip, David Ferguson and Derrick Malloney to run an illegal gambling business between June 2005 and January 2012. The charges focus on the illegal movement of funds across international borders, from Switzerland, England, Malta and Canada (among others), to US bank accounts to pay media resellers and advertisers, as well as moving funds to pay winnings to gamblers.

They are also accused of working with payment processors in the US and abroad, of which two are named: JBL Services and ZipPayments.

As of this writing the operation of Bodog’s European domains bodog.co.uk and bodog.eu have not been affected, nor has Bovada.lv, the rebranded Bodog branch currently serving US players.

To quote the official statement from BodogBrand:
“The BodogBrand became aware late on 27th February that the domain Bodog.com had been seized by US Homeland Security. This domain is not currently in use by the BodogBrand or any Brand Licensee and has not been in use since the Morris Mohawk Gaming Group (MMGG) switched its operations from Bodog.com to Bodog.eu in May 2011.”

“The BodogBrand.com revoked its licensing agreement with Morris Mohawk Gaming Group (MMGG) on December 15th 2011 after publicly stating it would do so in July 2011. It is equally important to state that Bodog UK, Bodog Europe and Bodog Asia have never taken bets from the US.”

Some media outlets are reporting that a former Bodog employee may have shared inside knowledge with the authorities. Stay tuned for updates. ]]> blog http://pokermaps.com/blogs/blog/91-bodog-com-seized-%96-calvin-ayre-indicted.html http://pokermaps.com/blogs/blog/89-bwin-party-sell-ongame.html Wed, 22 Feb 2012 04:58:08 GMT http://www.faqs.org/sec-filings/110310/SHUFFLE-MASTER-INC_10-Q/logo.gifBritish gaming group Bwin.Party is reportedly considering a sale of their... British gaming group Bwin.Party is reportedly considering a sale of their Ongame Poker Network. The company currently owns and operates a pair of networks, making Ongame largely expendable. This news was initially broken by Todd Eilers, a gaming analyst for Roth Capital Markets.

Bwin.Party acquired the Ongame Network in a recent merger, and has continued to support its sizable user base. At present, it represents the fifth largest poker network on the European continent, according to PokerScout.com. Their strongest suitor, at this point, appears to be a Las Vegas-based company named Shuffle Master.

For those unfamiliar with this group, Shuffle Master is a provider of electronic gaming content for casinos across the globe. They specialize in utility products (such as card shufflers, chip sorters, and intelligent table modules), proprietary table games, electronic table systems, and traditional electronic gaming machines. Boasting an office on every continent other than Antarctica, they are truly an international force.

For now, little information is available on other possible suitors. With the recent changes to the U.S. Justice Department’s views on the legality of online gaming, Shuffle Master could be in an excellent position to acquire a network which could eventually support American gamers. In the meantime, a strong U.S-based presence in the European market could open a few eyes on Capitol Hill.
“We view the interactive gaming opportunity as the most under-appreciated aspect of Shuffle’s growth story,” Eilers recently wrote. “Both opportunities could begin generating meaningful revenue this summer.” ]]> blog http://pokermaps.com/blogs/blog/89-bwin-party-sell-ongame.html http://pokermaps.com/blogs/blog/88-golden-nugget-gearing-up-legal-us-gaming.html Mon, 13 Feb 2012 16:05:36 GMT http://www.insidervlv.com/images/CasinoPics/GoldenNugget.jpgThe Golden Nugget is joining forces with Chiligaming to launch an online poker site . .... The Golden Nugget is joining forces with Chiligaming to launch an online poker site . . . in the United States . . . to be up and running in the next quarter.

Golden Nugget chairman, Tilman Ferttita, says, “We believe that online gaming is inevitable in the United States and that the Golden Nugget will be well positioned to compete when US laws allow for online gaming.”
It’s a wonderful quote for the gaming community to hear, but almost a superfluous one after the signing of such a landmark partnership. Just to use a few clichés, the action itself really does speak louder than words, and investing in software development before it’s even explicitly legal really does put their money where their mouth is.

Chiligaming, a French-based company, isn’t the most household name to American players, but they have strong selling points that obviously worked with the live casino mega-company. Many sexy buzz words are being used in association with Chiligaming and their iGaming platform, including platform-friendly, UIGEA-compliant, and iPhone and Android playing capability.
The press release may speak to the biggest reason behind the Golden Nugget’s selection, though. It says Chiligaming’s iGaming platform “is designed to both facilitate swift entry into the market and maximize options for the Golden Nugget as the US regulatory and vendor landscape takes shape.”

In other words, even going on the assumption that online poker becomes explicitly legal, there is so much uncertainty about everything from age verification and problem gambling regulation to rake and tax structure, and the Golden Nugget feels confident that iGaming is the most flexible and savvy option to account for and react to all of those variables.

It seems almost silly to point out, but this is great news for the US poker market. Of course this is a huge vote of confidence from a company that you’d imagine would have a strong feel for the legal climate surrounding gambling. But even for those who will only believe it when they see it, this news at the very least shortens the window between the hypothetical passing of the hypothetical legality bills and the launching of a regulation-ready US poker site.

So regardless of whether this convinces you that the online gaming renaissance is nigh in the US, or this is just a move that expedites the process of if and when the US can shuffle up and deal, this is a win-win for the online poker community. ]]> blog http://pokermaps.com/blogs/blog/88-golden-nugget-gearing-up-legal-us-gaming.html http://pokermaps.com/blogs/blog/84-nevada-approves-within-state-online-poker.html Tue, 27 Dec 2011 11:03:11 GMT http://gaming.nv.gov/images/shield_orig.jpg Late last week, the Nevada Gaming Commission officially approved Regulation 5A in a unanimous 4-0 vote....
Late last week, the Nevada Gaming Commission officially approved Regulation 5A in a unanimous 4-0 vote. This regulation sets the rules and framework for online poker within the state of Nevada, including licensing requirements. The Las Vegas Review-Journal estimates that “some sites could be up and running by the end of 2012“.

Nevada is the first state to officially allow for online poker within their state. As one of the few states where gambling is legal and in which there is a large enough of a player pool to make online poker feasible, Nevada has already had a number of companies apply for online poker licenses. Among them are Caesars Entertainment Corp and Boyd Gaming. Both of these companies have recently aligned themselves with larger international online poker sites. Boyd Gaming entered into an agreement with bwin.Party, while Caesars Entertainment has teamed up with 888 Holdings. Other companies are also setting themselves up to be able to quickly open their doors to all American player if and when federal legislation passes that would allow for regulated online poker.

Nevada’s Regulation 5A will hold online poker licensees just as accountable as their brick and mortar casino counterparts. Operators will also need to abide by other unique requirements. They will need to be proactive in preventing bot use, keep hand histories on file for a minimum of 5 years, ensure that only Nevada residents are able to play on their site, and no allow player to player money transfers.
As with brick and mortar gambling venues, the legal gambling age will be 21. Operators will also need to be able to detect fraudulent activities such as money laundering, as well as provide problem gambling resources and offer self-exclusion for players. The majority of internet poker license applications have come from already established brick and mortar casinos. It is expected that most, if not all, will be granted Nevada online poker licenses.

For those operators who do not already have internet poker software or an online market presence, it is questionable if they will be able to attract enough players to be successful. Unlike casino table games, poker requires a strong player base in order to start and keep games running. With Nevada’s limited population and the strong competition among casinos, it is likely that once the dust settles we will see only a handful of successful Nevada online poker sites. ]]> blog http://pokermaps.com/blogs/blog/84-nevada-approves-within-state-online-poker.html http://pokermaps.com/blogs/blog/78-nevada-passes-online-poker-regulations.html Fri, 23 Dec 2011 10:42:09 GMT http://www.pokernews.com/w/articles/4ef3/thumb_f2e4ea16e.pngOn Thursday, vegasinc.com reported that the Nevada Gaming Commission had approved... On Thursday, vegasinc.com reported that the Nevada Gaming Commission had approved regulations for intrastate online poker, becoming the first state in the United States to do so. The move sets the stage for the licensing of companies to offer online poker in Nevada, though play across state lines is prohibited. The regulations passed by a unanimous vote and allow for companies currently licensed by the state to apply. Six companies have already filed applications: Cantor Gaming, Shuffle Master, International Game Technology, Bally’s Technology, South Point, and Caesars Entertainment.

As vegasinc.com reported: “The new regulations require applicants to prove their ability to maintain controls on player registration, prevent underage play and establish the location of players before being licensed. Regulations also address what information must be presented on their websites, record keeping, dispute resolution, fees and taxation and problem gambling notifications.”

Companies that are not currently licensed in the state of Nevada will be investigated per state regulations.

The regulations open the door for the state to officially accept applications, a move that was first announced more than a month ago.

“We’ve taken our brick-and-mortar operational standards to a new level,” Michael Lipparelli, chairman of the Gaming Control Board, said in November at the U.S. Online Gaming Law conference. “We’re going to continue to be flexible, but we think we’ve set the bar high for licensing and suitability.” ]]> blog http://pokermaps.com/blogs/blog/78-nevada-passes-online-poker-regulations.html http://pokermaps.com/blogs/blog/77-full-tilt-transfer-assets-through-justice-department.html Wed, 21 Dec 2011 05:38:08 GMT http://www.pokernewsreport.com/wp-content/uploads/2011/12/full-tilt-poker-and-groupe-bernard-tapie-agree-on-asset-transfer.jpgFull Tilt Poker has... Full Tilt Poker has reached a transfer agreement with Group Bernard Tapie (GBT), the French investment firm planning to take the company’s reigns. According to a report from Subject:Poker, the former online poker giant will see its assets routed through the United States Department of Justice and then into the hands of their purchaser.

According to multiple sources, Full Tilt’s ownership went through with the purchase on the strength of a vote from their majority shareholders. Any members of the company’s former ownership will have to buy stock in the new group if they wish to receive equity. Thankfully, these shares will represent only a financial interest. Persons who owned a voting interest in the original Full Tilt will retain no voting privileges or other management abilities, locking them out of the decision making process. Members of the old board of directors, such as Chris Ferguson and Howard Lederer, however, will not be eligible for this offer.

So, here’s how things will work. GBT will pay $80 million to the Department of Justice, allowing them to purchase Full Tilt outright. Then, the new ownership group will be responsible for repaying the bankrolls of American players. This represents a significant investment for GBT, with some estimates of the total owed reaching as high as $150 million. In order to recover this massive expenditure, they’ll need to get the new Full Tilt up and running in a hurry.

One way to do this, of course, will be to open a new market, and Tapie is aiming to do just that. The company has applied for an operating license within the nation of Spain. The Spanish government plans to open their company for business in the early months of 2012, and has counted, according to PokerNews, the likes of Bwin.Party, 888, and Ladbrokes among those seeking permission to cater to their citizens. ]]> blog http://pokermaps.com/blogs/blog/77-full-tilt-transfer-assets-through-justice-department.html http://pokermaps.com/blogs/blog/73-barton-optimistic-about-us-online-poker-bill.html Tue, 13 Dec 2011 10:23:13 GMT http://www.csmonitor.com/var/ezflow_site/storage/images/media/images/0618-bp-barton-defending/8165253-2-eng-US/0618-bp-barton-defending_full_600.jpgCo... Congressman Joe Barton (R-TX) spoke optimistically about the future of online poker in the United States last week at the Digital Gaming and Lottery Policy Summit. Barton believes that acting swiftly and decisively is the way to go. He was quoted as saying that “the bottom line is we want to get to it as quickly as possible. The poker bill has a chance in this Congress… which means this year or next year.”

In June Barton introduced bill HR 2366, the “Internet Gambling Prohibition Poker Consumer Protection, and Strengthening UIGEA Act of 2011.” This bill seeks to amend the UIGEA of 2006 to allow for a distinct exception to the ban for games of skill, including poker. The bill focuses strongly on consumer protection aspects. It lays strict guidelines for liquidity of funds by operators, effective means for preventing underage gambling as well as identifying and providing help for problem gamblers.

“I think we have the votes in the House to get it through. If we get it to a vote on the floor of the House, I think it will pass,” said Barton. “A lot of this is politics and in this case it’s not Republican and Democrat politics. It’s more House and Senate politics.” It appears that we need to get our proverbial ducks in a row before making the final push to approve the bill through the House and then the Senate.

While the Unlawful Internet Gambling Enforcement Act (UIGEA) was “rubber stamped” into law after being attached to the SAFE Port Act in 2006, Barton sees little chance that his bill could use a similar tactic to expedite the process. Barton’s current focus is to help bill HR 2366 along the regular route through the House of Representatives and then through the Senate.

Despite the hard road ahead, Barton remains confident in the eventual passing of a bill allowing legalization/regulation of online poker in the U.S., even if it isn’t his own HR 2366. Barton believes that a federal internet poker bill will get through the House and Senate, and find its way to the President’s desk before the end of 2012. ]]> blog http://pokermaps.com/blogs/blog/73-barton-optimistic-about-us-online-poker-bill.html http://pokermaps.com/blogs/blog/70-newly-purchased-full-tilt-poker-given-us-market-blessing-doj.html Sun, 04 Dec 2011 02:40:55 GMT http://www.anteupmagazine.com/rw/news/377950c23.jpgLast week, it was confirmed that the Groupe Bernard Tapie (GBT) came to an agreement to buy the... Last week, it was confirmed that the Groupe Bernard Tapie (GBT) came to an agreement to buy the Fulltilt name, assets and debts from the U.S. Department of Justice for a sum of $80 million. The agreement stated that the GBT would be responsible for paying back all international player balances, while American players would still need to go through the DOJ to receive their funds.

The latest news on this deal is that the GBT has now struck an agreement with the DOJ that would explicitly permit the new Full Tilt Poker to re-enter the US market if and when legislation is passed for regulated online poker. This is big news, as until now, no online poker site had been given the go ahead by the DOJ to re-enter the US market. Of the deal, Full Tilt Poker attorney Jeff Ifrah says:
“The deal that was reached between the investors and the Department of Justice is going to pave the way for players to be reimbursed and it’s hopefully going to pave the way for a new FTP to be re-launched. Those two together, is good for poker, good for the industry and good for the players.”

While the approval from the DOJ certainly won’t hurt the chances of the new Full Tilt Poker re-launch, there are still many hurdles before online poker is legalized and regulated in the United States. There are multiple bills currently being debated and seeking more support among players and both private and public organizations. There are even a number of states who are seeking ways to offer intra-state online poker to their own residents, as the UIGEA only makes it illegal for online gaming across state and country borders.

On the international online poker stage, Full Tilt Poker will likely push soon to re-gain their gaming license from the Alderney Gaming Commission. Their license was revoked in September when it became evident to the commission that FTP could no longer remain solvent without the $331 million in funds that the DOJ had seized earlier in June of 2011. ]]> blog http://pokermaps.com/blogs/blog/70-newly-purchased-full-tilt-poker-given-us-market-blessing-doj.html http://pokermaps.com/blogs/blog/69-online-poker-license-applications-available-nevada.html Sat, 03 Dec 2011 01:35:54 GMT http://www.pokernewsreport.com/wp-content/uploads/2011/11/online-poker-license-applications-to-be-accepted-in-nevada.jpgNevada is preparing to allow... Nevada is preparing to allow casinos and other organizations to fill out applications which, if accepted, would allow companies to provide legal online poker to state residents. Come February 2012, parties will be able to vie for the right to become the first regulated, fully functional internet poker service in the United States.

Spearheaded by Control Board chairman Mark Lipparelli, this effort could very well shape the future of online gambling in America. The companies most likely to earn licenses, he states, would be those who already hold both an active gaming license and the goodwill of the state’s officials. Casinos such as Caesars or MGM already have a foot in the door, and could soon become the new face of US online poker.

This represents a historic shift in policy. During the years of the Poker Boom, brick-and-mortar casinos were the mortal enemy of online poker sites, claiming that their ultra-low stakes took players off of their floors. This is, all things considered, a half truth. While there were assuredly players who opted to remain in the comfort of their own homes to play, the easy availability of internet poker created a massive explosion in the game’s popularity. But now, as the only game in town, the casinos are positively drooling over the potential revenues a US-based online poker system could produce.

“We’ve taken our brick-and-mortar operational standards to a new level,” Lipparelli told VegasInc.com. “We’re going to continue to be flexible, but we think we’ve set the bar high for licensing and suitability.”

For now, online poker would be legal only within the borders of Nevada, and only to state residents. But once other states see the sheer amount of money being made off of online poker taxes, it will be only a matter of time before either further intra-state or even federal poker regulation begins to gather steam. ]]> blog http://pokermaps.com/blogs/blog/69-online-poker-license-applications-available-nevada.html http://pokermaps.com/blogs/blog/68-tapie-group-full-tilt-poker-u-s-dept-justice-strike-deal.html Mon, 21 Nov 2011 05:34:10 GMT http://www.pokernews.com/w/articles/4e85/e3f29f235.jpgAs Congressional hearings regarding the possible future of online poker continue to occupy the... As Congressional hearings regarding the possible future of online poker continue to occupy the legislative branch of the U.S. government, the executive branch acted on Thursday with regard to online poker's past. It was announced late Thursday afternoon that a deal has been struck involving Full Tilt Poker, the Groupe Bernard Tapie, and the U.S. Department of Justice to allow for the French investors to acquire the embattled online poker site.

While the implications of the deal are significant in several ways, the one consequence of primary relevance to many observers is the fact that the deal will apparently facilitate the return of player funds not just to U.S. players with money locked up on FTP but to the "rest of world" (ROW) players as well.

Pending approval by shareholders of the various companies comprising Full Tilt Poker, the deal involves FTP forfeiting all of its assets to the DOJ who in turn will sell those assets to the GBT for a sum of $80 million. The DOJ will additionally dismiss current civil forfeiture proceedings against FTP for the return of funds.
It is possible that amount the GBT will owe the DOJ will in truth be less than the stated price. The Wall Street Journal is reporting today that some of the money seized by the DOJ from FTP accounts may in fact go to the GBT group, meaning "the amount spent by Groupe Bernard Tapie for the assets would actually be around $40 million, according to a person with knowledge of the situation."

As Wendeen H. Eolis reported for Poker Player Newspaper yesterday, the agreement includes provisions that "GBT will hold at least a majority interest in the company" and that "none of the current FTP directors will be permitted to hold shares in the company."

Eolis, who spoke with Groupe Bernard Tapie counsel Benhan Dayanim for her report, added further explanation that U.S. players will subsequently be invited to "submit petitions to the U.S. government to 'request compensation for their losses.'" Not exactly the method of withdrawing funds players would have ever anticipated when they first deposited money on the site -- that is, to have to apply directly to the DOJ for reimbursement.

Presumably the DOJ will be using both the $80 million it receives from the GBT for the deal and a portion of the significant sums it had previously seized from accounts belonging to FTP's companies to pay back the American players.
In late September the Alderney Gambling Control Commission indicated in its report detailing the reasons for its suspension of FTP's licenses to operate that "individual seizures made by the Department of Justice during the period 28th June 2007 to 20th June 2011... [had] amount[ed] to a cumulative total of approximately $331 million."

Meanwhile, the deal requires that the GBT take on the responsibility to "repay or make whole" the ROW players, Eolis reports. If recent reports regarding the GBT's plans are accurate, there may well be options given to at least some ROW players either to have their balances refunded to them or to take "equity stakes" in the company.

News of the deal being "brokered" by the DOJ was leaked prematurely yesterday afternoon on the CNN Money website, the article being posted prior to the reporters' obtaining needed confirmation by a representative of the Groupe Bernard Tapie's legal counsel. The article was thus taken down, leading to momentary uncertainty about the status of the deal.
However, such confirmation was eventually obtained by Eolis and others and it now appears the deal has indeed been struck, although a favorable vote from FTP company shareholders and other particulars regarding the transfer of assets from FTP to the DOJ is still needed in order for the deal to be finalized.
Since the initial report, two of the three parties involved have commented further on the deal.
Full Tilt Poker issued a statement to PokerStrategy declaring its happiness with the deal and in particular the way it will allow the site finally to repay its customers. Additionally, FTP attorney Jeff Ifrah described the deal to PokerStrategy as "clearly historic" and "an incredible achievement." Ifrah also indicated hopefully that subsequent steps will result in a new GBT-managed version of the site and that "Full Tilt will become operational."

Representatives of the GBT have also made statements to others including Subject:Poker, who like Eolis spoke with the French group's attorney Dayanim. To S:P Dayanim reiterated that "this is the first step in a process that will require agreement of the Full Tilt companies to the forfeiture of those assets and execution of a definitive agreement with the Department."

Meanwhile, the Department of Justice has been contacted by numerous outlets and to each the response has been that they have no comment on the deal as of yet.

It should be noted that the proposed deal does not resolve the "Black Friday" indictment and civil complaint (unsealed April 15 and amended September 20) in which Full Tilt Poker's companies and directors are among those targeted.
Interestingly, during both yesterday's oversight hearing of the Senate Committee on Indian Affairs and this morning's House hearing of the Subcommittee on Commerce, Manufacturing and Trade (previewed here), the example of Full Tilt Poker's unfair treatment of its customers was repeatedly evoked by witnesses arguing for the need for some form of licensing and regulating of online poker in the United States. ]]> blog http://pokermaps.com/blogs/blog/68-tapie-group-full-tilt-poker-u-s-dept-justice-strike-deal.html http://pokermaps.com/blogs/blog/66-online-poker-hearing-set-october-25th.html Wed, 26 Oct 2011 06:00:47 GMT http://whosright.com/uploads/ksR2KY_US-House-of-Representatives-Seal-Plaque-L.jpgThe U.S. House of Representatives’ Subcommittee for Commerce,... The U.S. House of Representatives’ Subcommittee for Commerce, Manufacturing and Trade will hold a hearing on online gaming tomorrow. Topics addressed in this hearing will include the safety of online gaming and likely a discussion of Congressman Joe Barton’s bill HR 2366. This bill seeks to legalize and regulate the online poker industry at the federal level.

This debate is an important step towards the future of online poker in the United States. Of the current law, Barton says “it’s lose-lose for everyone – the public, the taxpayer, the banking industry, and the people who want to play online poker openly and honestly on the internet”.

Poker Players Alliance (PPA) Chairman Alfonse D’Amato has been invited to this hearing as a witness. D’amato will testify on behalf of poker players, voicing concerns regarding important industry areas such as the need for independent audits of game fairness and segregation of player funds from other poker site capital.

Republican Congressman Joe Barton’s proposed bill HR 2366 sets a framework for legal online poker, with a strong emphasis on protecting the consumer and the accountability of licensed operators. The bill actually strengthens the Unlawful Internet Gambling Enforcement Act (UIGEA) by strictly prohibiting online gambling, while creating exceptions for poker, lotteries, horse betting and other skill games. The bill also includes strict penalties (up to three years in prison) for collusion and use of bots.

However, there are some drawbacks and unaddressed issues in this bill. The bill only applies to online poker, not online casinos or other games. Under this bill credit cards would also be prohibited for use as payment. The use of Heads-up Displays (HUDs), tracking software and even multiple account use aren’t mentioned either.

Although we are still a long ways off from returning to pre-Black Friday era online poker, this is great news and shows that there is light at the end of the tunnel. D’Amato views this hearing as “good for building momentum” in the struggle for safe and legal online poker in America. ]]> blog http://pokermaps.com/blogs/blog/66-online-poker-hearing-set-october-25th.html http://pokermaps.com/blogs/blog/65-prosecution-lands-tzvetkoff-star-witness.html Fri, 21 Oct 2011 00:03:01 GMT http://www.pokerstrategy.org.uk/wp-content/uploads/Daniel-Tzvetkoff.jpgThe legal battle over online poker in America may have just taken a decisive... The legal battle over online poker in America may have just taken a decisive turn. Daniel Tzvetkoff, the former operator of a fake payment processing scam, has apparently decided to testify against the 11 online poker executives nabbed in April’s Black Friday indictments.

Tzvetkoff himself may have already received a sentence for his involvement in the web-crime. But whether judgment has been passed or is yet to be passed, his cooperation will likely net him a reduction in the severity of his sentence.
According to sources cited by OnlinePokerNews.org, Tzvetkoff has been seen in New York, where he is believed to be hiding out.

“He,” the site goes on to say, “who made billions of dollars by hiding online poker transactions and was just as guilty as any other, will likely end up in witness protection to save his butt after he helps bring down some of the biggest online poker figures in the history of online poker. If it weren’t for these men, the industry would not exist in the capacity that it does throughout the world, as online poker is much bigger than the US now.” ]]> blog http://pokermaps.com/blogs/blog/65-prosecution-lands-tzvetkoff-star-witness.html