Subject Poker: Groupe Bernard Tapie, DOJ reach deal

[The Buzz]

Subject Poker has been perhaps the leading source for all the latest in the drama that has been surrounding Full Tilt Poker. The site is reporting this afternoon that Groupe Bernard Tapie has reached an agreement with the U.S. Department of Justice that allows the French company to continue its purchase of Full Tilt Poker.

Subject Poker says multiple sources have confirmed that Ray Bitar sent out the following email to Tiltware shareholders:

Dear members,

I am pleased to announce that today the Department of Justice and Groupe Bernard Tapie have reached an agreement in principle regarding the acquisition of the companies comprising FullTiltPoker. My understanding is the deal provides that in exchange for an agreed upon payment by GBT, and a GBT commitment to assume responsibility for payment of ROW players, DoJ will reimburse US players and settle the outstanding civil litigation with the companies comprising FTP. Beyond these conditions, issues like the time frame and process for repayment of players remain unclear at this point and time.

With DoJ’s consent now in hand, GBT may now proceed to finalize an agreement to acquire the companies or assets that comprise FTP. That agreement will very likely address the status of your shares or interests in the successor company. When I receive that agreement, I will coordinate with our attorneys to ensure the terms of that proposed agreement will be shared with the membership and voted on.

-Ray

[Anthony]

This is great news hopefully the players will get their money back soon. So why was GBT able to come to a deal with the DOJ so quickly and FTP was not???

[TheGooner]

I think that the key is :

DoJ will reimburse US players and settle the outstanding civil litigation with the companies comprising FTP.

The DoJ look like they are continuing to go after existing FTP owners / operators ...

GBT will takeover operations and offer FTP to rest of world (excluding United States).

[grem]

here is fulltilts view on the situation
http://www.fulltiltpoker.com/full-ti...august-30-2011

The players should get their money back.