Cracks appear in Full Tilt Poker sale to GBT
It appears that Subject: Poker isn’t the only online poker site that has been receiving some inside information on the Full Tilt Poker sale to Groupe Bernard Tapie, as the website WickedChops Poker is reporting that a source close to the company claims that the re-launch of Full Tilt Poker is expected to happen on March 1, 2012.
While this in itself is not breaking news –Laurent Tapie recently laid-out this very timeline in an interview with Gaming Intelligence, adding that Full Tilt Poker would be rebranded as well. But according to the Wicked Chops source this is also what GBT is telling people behind the scenes as well: A rebranded Full Tilt will be launched in March, AND they will receive a Nevada license!
However, as the article rightly points out, there are so many issues still to be resolved that even if the sale goes through (which at this point is anyone’s guess) there is literally no way for the site to be up and running by March.
The article can be found in the Insider’s Section of the WickedChops Poker site (you can gain access to this area for $3.99/month).
Will the Sale Happen?
This is the #1 question on everyone’s mind, especially after a Groupe Bernard Tapie lawyer, and then Laurent Tapie, threw a number of poker players under the bus by revealing that they owed millions to the faltering site. The revelations gave GBT an “out” if the sale falls through, by stipulating that these debts are holding up the sale –so if the sale doesn’t take place it will somehow be Barry Greenstein, Phil Ivey, and Erick Lindgren’s fault, to name but a few of the players named.
And this is just the latest hurdle that has come up that could derail the sale.
Can Full Tilt Reopen in March?
Unless GBT has already rebranded the site, hired high-level personnel, and laid out a full marketing strategy (which is completely unlikely since the deal is far from certain) how on earth can they expect to re-launch the site in less than a month!?!?!?
Granted, the software is in place, and running an online poker room is not as difficult as a brick & mortar card-room, but the notion that the site could be rebranded, licensed, and up-and-running in the span of a few weeks is wishful thinking.
Why is GBT making these Claims?
Ok, here is the real question: Is the deal falling through? Are Full Tilt’s books as bad as GBT lawyer Behnam Dayanim made them out to be in a recent interview? Are the player debts just the tip of the iceberg for the site? Are there more insidious financial issues?
It seems that when GBT has been silent for some time there is sudden progress in the sale, but when they and their lawyers speak out a new problem comes to light.
Tags: Barry Greenstein, Bernard Tapie, Cracks, Debts, Erick Lindgren, Full Marketing, Full tilt Poker, Gaming Intelligence, Hurdle, Launch, March 1, Marketing Strategy, Nevada License, Online Poker, Phil Ivey, poker players, Revelations, Timeline, Wicked Chops, Wickedchops
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