'Black Friday' and associated fallout megathread

[dmorris68]

I think they're demanding that any Federal statutes cannot impinge upon the tribes' sovereignty and rights as they already exist.

Tribes' sovereignty only applying to their lands (reservations). If they wanted to run a reservation-only online poker room, I think they could already do that today unless forbidden by state law (states & local jurisdictions can still legislate what reservations can do, such as alcohol sales, gambling limits, table games, etc.). They just couldn't extend access to it beyond the reservation because they don't have sovereignty beyond their borders, so it wouldn't be a very practical application.

If Federal legislation passes, it will open up access across borders (states and reservations) but may impose restrictions that the tribes are not willing to accept given their sovereign nature. That's my interpretation anyway. I don't see it as an attempt to grab all rights to online poker for themselves.

 

[Charade You Are]

-They are against including Internet gaming in the deficit reduction package of the Super Committee.
-They also object to shutting out tribes from internet poker that don't do gaming or have enough gaming devices in one location.

Their other demands include:
"Indian tribes are sovereign governments with a right to operate, regulate, tax, and license Internet gaming, and those rights must not be subordinated to any non-federal authority;

Internet gaming authorized by Indian tribes must be available to customers in any locale where Internet gaming is not criminally prohibited; and

Consistent with long-held federal law and policy, tribal revenues must not be subject to tax;

Federal legalization of Internet gaming must provide positive economic benefits for Indian country."

To the last--I say why? Do lotteries and horse-racing and bingo and fantasy sports have to provide positive benefits for the tribes?

 

[OzExorcist]

To the last--I say why? Do lotteries and horse-racing and bingo and fantasy sports have to provide positive benefits for the tribes?

IDK (I imagine no), but the difference is lotteries and horse racing aren't really direct competitors to B&M casinos. Online poker almost certainly would be.

 

[ph0n3_j4ck]

I hope they can get pokerstars and full tilt poker open up to US players very soon, as US players were a big percent of their playerbase!!

 

[Charade You Are]

I hope they can get pokerstars and full tilt poker open up to US players very soon, as US players were a big percent of their playerbase!!

Dream on! and FTP isn't open to anyone right now.

 

[JoeShowdown]

Headline from NY Times Nov 25, 2011:

Real Black Friday Hits: DOJ Shuts Down Merge, bodog, Cake, Everleaf

In a final blow to USA online poker addicts, access to real money poker on every site has been taken away. Addicts who moved on from Full Tilt, Pokerstars, UB, and AP can no longer play in the land of the free. Will the gamblers merge onto the highway, rescue a dog named Bo, make some cake, and rake the leaves?

Subscribe to read more..........

 

[Charade You Are]

Headline from NY Times Nov 25, 2011:

Real Black Friday Hits: DOJ Shuts Down Merge, Bodog, Cake, Everleaf

In a final blow to USA online poker addicts, access to real money poker on every site has been taken away. Addicts who moved on from Full Tilt, Pokerstars, UB, and Absolute Poker can no longer play in the land of the free. Will the gamblers merge onto the highway, rescue a dog named Bo, make some cake, and rake the leaves?

Subscribe to read more..........

Not even funny.

 

[tbdbitl]

Not even funny.

True! But, could it really be that far off from the truth?

 

[msufan]

True! But, could it really be that far off from the truth?

I think things are moving in the opposite direction. As the country struggles with so many financial issues, it won't take too much longer before the potential financial windfall is too much for even the anti-gaming and anti-competition lobbyists to overcome. The government has the opportunity to make billions here AND to make a bunch of people happy at the same time... no way this doesn't get done in the next 18 months.

 

[cardriverx]

I think things are moving in the opposite direction. As the country struggles with so many financial issues, it won't take too much longer before the potential financial windfall is too much for even the anti-gaming and anti-competition lobbyists to overcome. The government has the opportunity to make billions here AND to make a bunch of people happy at the same time... no way this doesn't get done in the next 18 months.

+1

 

[Charade You Are]

Unfortunately billions is no longer enough. Maybe I have so little faith left that our government is capable of doing anything, much less anything logical, that I'm becoming more pessimistic by the day.

The ONLY thing that seems hopeful is that some pretty big $ is looking for legalization.

 

[brank]

Yet one step closer......

http://finance.yahoo.com/news/Groupe-Bernard-Tapie-buy-Full-cnnm-734536333.html?x=0&l=1

 

[dmorris68]

^^^ Was just coming here to post that.

As part of the deal, the French firm will take responsibility for the burned players outside the U.S., while the Department of Justice will facilitate paybacks to the American gamblers who lost about $150 million. American players will have to apply to the DOJ for compensation.

 

[coolnout]

did they remove that article?

anyways: http://www.pokerstrategy.com/news/world-of-poker/Breaking-News:-Full-Tilt-Poker-Sale-Complete_53852/

 

[brank]

Quite amazing how fast FTP actually made a public statement about this. I guess it's the first one that people will actually be happy about though so it kinda makes sense.

 

[WVHillbilly]

American players will have to apply to the DOJ for compensation.

lol

 

[Poker Orifice]

FTP Sale Finalized for $80million to GBT

FTP Sale Finalized for $80million!!!

weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
http://online.wsj.com/article/SB10001424052970203699404577044500491036394.html
(wallstreet journal)

 

[pcgnome]

Yeah, but you have to subscribe to read the whole article. I hate that.

 

[OzExorcist]

So if I'm reading this right... Full Tilt has effectively turned over all its assets to the DOJ for nothing.

GBT has then bought said assets for $80m, and it only has to cover ROW balances on top of that (which is $140m ballpark, right?). Am I wrong, or is that way less than anyone thought they'd be paying for it?

Another interesting note is Wicked Chops are reporting there will be no further prosecution of Full Tilt shareholders...

 

[mrmonkey]

Reserved optimism. :icon_prof

 

[dmorris68]

Another interesting note is Wicked Chops are reporting there will be no further prosecution of Full Tilt shareholders...

Yes, all civil charges against the company have been dropped. Not individual charges against the owners/officers previously named, however.

 

[msufan]

This is obviously a win for American players with funds tied up on FT, and it seems to me to be a win from a PR perspective for the US govt (they are no longer the reason players won't get paid) as well as a smart investment for the purchasing group who could NEVER have bought FT this cheaply under normal circumstances.

 

[the lab man]

did they remove that article?

anyways: http://www.pokerstrategy.com/news/world-of-poker/Breaking-News:-Full-Tilt-Poker-Sale-Complete_53852/

The second sentence makes me worry
"Some form of repayment for all players"

 

[KerouacsDog]

This is obviously a win for American players with funds tied up on FT, and it seems to me to be a win from a PR perspective for the US govt (they are no longer the reason players won't get paid) as well as a smart investment for the purchasing group who could NEVER have bought FT this cheaply under normal circumstances.

this, +1.

 

[dj11]

Here is a ticklish thought. With GBT now controlling the FT assets (including software) they could license the software to a site like........oh I don't know.....BODOG ?!?!?!?!