Black Friday and the aftermath: Online Poker Implications

[outragous76]

Can an insolvent business hold a patent?

Why doesn't one of the shit euro sites by the tilt software and reskin it?

[Sheriff Fatman]

Can an insolvent business hold a patent?

Why doesn't one of the shit euro sites by the tilt software and reskin it?

I've never understood why no-one's reused the old Tribeca or Paradise software.  Both were the shizzles compared to Boss, iPoker, etc.

[sovietsong]

Are blondepoker.com considering taking over FTP?

[Longy]

http://www.pokerstars.com/poker/promotions/reload-bonus/

Hehe, never miss a trick!

[MANTIS01]

I haven't been following this story much but now that the big fat honey monster Lederer has stolen all my moneezzz I've kinda become suddenly interested.

The point could have been made already but I don't see how there's much danger of Tilt going bust?? Their software is the best around and importantly they own Rush Poker. Those two things together with the brand value must be worth in excess of whatever outgoings they are responsible for. I know the hearing is set for July 26th but I can't imagine Tilt will want to be closed for 1 month especially because Alderney aren't going to re-issue the license at that point anyway. The value and rep of the business surely plummets in that time? I imagine every day is going to be used to pursuit whatever back-up plan Tilt had. They must have expected it or at least feared it. Getting a licence elsewhere, opening up unlicensed, maybe merging with another site have all got to be more viable options than busto. In the meantime where's my dollar Honey Monsterrrrrr??

[Bongo]

Do they own Rush Poker or did they just license it?

[AndrewT]

Do they own Rush Poker or did they just license it?

Invented by these guys - http://www.holdemonepoker.com/index.php

Rush Poker patent application

[AndrewT]

Kahnawake confirms Full Tilt has a secondary licence with them, and that they are reviewing it in light of Alderney's actions.

-----
(MOHAWK TERRITORY OF KAHNAWAKE – June 30, 2011) – Since July, 2010, Kolyma Corporation A.V.V. (“Kolyma”), carrying on business as Full Tilt Poker, has held a Secondary Client Provider Authorization, issued by the Kahnawake Gaming Commission (the “KGC”).

The KGC issues a Secondary CPA only in cases where an operator holds a valid license issued by a primary jurisdiction and has its head office and focus of operations in that primary jurisdiction.

The KGC is aware that the Alderney Gambling Control Commission (“AGCC”), has recently issued Suspension Notices against several companies collectively operating as Full Tilt Poker.

In view of these recent actions, the KGC is reviewing all available information to determine whether the Secondary CPA presently held by Kolyma will be continued. A further announcement will be made shortly.

-------

http://www.subjectpoker.com/2011/06/kgc-statement-ft/

[Longy]

If KGC suspend/revoke FTP license, they must be in the worst kind of trouble. Pretty sure you could have killing babies as your primary goal and still get KGC to license you if you pay the fee.

[Bongo]

pay the fee.

Maybe that is the issue

[redarmi]

I haven't been following this story much but now that the big fat honey monster Lederer has stolen all my moneezzz I've kinda become suddenly interested.

The point could have been made already but I don't see how there's much danger of Tilt going bust?? Their software is the best around and importantly they own Rush Poker. Those two things together with the brand value must be worth in excess of whatever outgoings they are responsible for. I know the hearing is set for July 26th but I can't imagine Tilt will want to be closed for 1 month especially because Alderney aren't going to re-issue the license at that point anyway. The value and rep of the business surely plummets in that time? I imagine every day is going to be used to pursuit whatever back-up plan Tilt had. They must have expected it or at least feared it. Getting a licence elsewhere, opening up unlicensed, maybe merging with another site have all got to be more viable options than busto. In the meantime where's my dollar Honey Monsterrrrrr??

Think the value of software is overvalued in most peoples minds.  Unless you are going to go into the licensing business (and that is pretty saturated atm).  I would be surprised if the software in itself is worth more than $10m.  Rush certainly has value but I would be amazed if anyone was going to spend much money on anything poker related in the current climate.  I was involved in the sport betting market when the US passed the UIGEA and it was amazing how quickly bankers, investors, brokers etc who wanted to buy you dinner every night of the week before the clampdown now wouldn't even return your calls.

I know I won't be popular for saying this but i feel a bit sorry for Lederer and Ferguson.  The big mistakes were not made by them and yet this is going to impact on their lives so much more than it will on Bitar etc.  Presumably he will just disappear and enjoy the money he has made and whilst they have made money they are villified in the circles that they once were feted in.  I would imagine they would have lost 95% of their friends and can't really go back to what they did before yet it is possible they had no idea the complete state of the finances and even if they did it was only in this, the most catostrophic of circumstances, that it could end up like this.

[doubleup]

Can an insolvent business hold a patent?

It might be that the rights to the software are owned by a different company than the one that owes everyone money.

[pleno1]

I know I won't be popular for saying this but i feel a bit sorry for Lederer and Ferguson.  The big mistakes were not made by them and yet this is going to impact on their lives so much more than it will on Bitar etc.

I can pretty much gaurantee that any big motion that went through full tilt would have been passed or approved by Howard.

[TRIP5]

Press release from LA Times:-

Full Tilt to be sold to European investors

http://www.latimes.com/business/la-fi-online-poker-20110701,0,6054543.story

xx

[Ant040689]

damn you got there ahead of me as the first person to break the news

Looks interesting this.

I always thought that with rebranding and repayment to the tilt players that were owed that the playerbase will still play there and possibly even grow in Europe. However, this does mean a name change and trying to create as much distance as possible away from the farce that this was.

Hopefully these guys can create something reputable and really challenge pokerstars, but this is all very early and this report might even be crap in itself. I am just excited is all.

I don't have a lot of money locked up in full tilt [ ]