PokerStars' Head of Corporate Communications just published a post on pokerstarsblog.com that says they can't say anything but rumors are running wild that PokerStars will be purchasing FTP and settle their outstanding legal issues with the DOJ as a result of Black Friday.
Sometime soon we can expect to hear good news. So far the rumors are:
- GBT deal with FTP/DOJ is off the table.
- PokerStars will pay $750 million to acquire FTP. This includes covering the $330 million owed to FTP players as well as fines to settle charges with the DOJ.
- FTP will continue to run as a separate poker room.
- FTP will re-enter the US market.
- Isai Scheinberg will be stepping down from his position at PokerStars.
GBT Out Of FTP Deal
FTP Players To Be Paid Within 90 Days
There were a lot of things concerning the GBT deal that didn't make sense.
PokerStars Bails Out The DOJ
After it was discovered that FTP and AP/UB were insolvent their hope of recovering $3 billion in fines as a result of Black Friday had to have been diminished.
Why would PokerStars Want To Own FTP
PokerStars Settles With The DOJ
PokerStars still has the threat of criminal and civil charges against their companies and some individuals. They were going to have to settle with the DOJ one way or another. Allowing PokerStars to buy FTP gives PokerStars something back for their fines in addition to having the charges settled.