As most of you know, FTP had their europe license pretty much suspended until a hearing set for July 26th can clear this issue up. However, Jack Binion has expressed a real interest in coming in and buying out Ray Bitar’s shares of FTP. The Gaming license has been primarily suspended because of Ray’s pending indictment. Take note as well, Ivey has withdrawn his statement from his website concerning his pending lawsuit against FTP. I have heard Jack wants to bring FTP back to The USA market, and if he steps in, that will happen once the pending regulation legislation is passed in Congress.
Sources tell me that it will pass, and as well, the bills will be amended to allow DEBIT card deposits. This equates to FTP paying all of The USA customers and entering back into the USA Market. Remember, the indictments are not against FTP, but against Ray and the other guy there (forget his name atm). Once they are gone, FTP is “clean”. There is more I cannot say at this time. I would like to, but know this; You all will get paid, and Jack Binion will likey buy the controlling interest of FTP to make this happen.
UPDATE 7/01/11;
FTP controlling interest has been sold. It is not entirely clear to exactly whom. LATIMES reporting EU group. Jack might have something to do with that group. We will find out more. Latest class action suit by Todd Terry is typical coming from his past history. In my opinion, it has little merit on the damage end. Ignorance of the Law is not an excuse to say ” I didn’t know it was an illegal site” (per UIGEA) and it will find no jurisdiction in The USA..
Let me reiterate on some new info.
1. Ivey dropped his lawsuit against FTP… Do you think he did that because he is just a nice guy? I was a bit unfair to Ivey in this, Turns out, that Ivey was the only one on the right track here. Sure, he was looking out for himself first, and that is normal. Ivey has helped to make this happen. so I give him credit and apologize to him for being a little hard on him. It is what I do, I am a critical thinker, but I was partially wrong with him, He deseres a lot of credit.
2. Chris Ferguson has showed up at WSOP… Do you think he is doing that because he wants all the krap he would take, IF NOT THAT THE DEAL IS ALREADY DONE? same with IVEY IF NOT THAT THE DEAL WAS DONE?
Some people have been saying that this new group buying FTP wants to break it up. that is possible, BUT UNLIKELY.. why? IT IS CONTROLLING INTEREST, NOT THE WHOLE COMPANY! part of this deal is ironclad, that they MUST PAY BACK USA PLAYERS.. Yet I read the idiotic drivel on 2+2 and mere rumors and speculation, mostly ignorant and totally uninformed of how biz works and the current situation. If you choose to read this, and still believe you wont get paid, then so be it, but you ARE NOT THINKING CLEARLY.
If this company came in and didnt pay USA players.. THE SITUATION FOR THE BELOW mentioned players would become 10 fold worse. Most people would believe they jumped ship, got their money, while THEY SCREWED EVERYONE ELSE.. it would be likely many of the below mentioned could end up beaten or worse, even killed by angry people they would have “screwed”
For the love of MIDGET BOWLING, calm down everyone, especially you whacked out dumbshits posting on 2+2!!
Now, do any of you really think, not react with emotion over this, but THINK that Howard, Ferguson, Bloch, Ivey, and others wish to never be able to play in a poker game again, and even want to play poker to try to grind a living? That they just want to walk away from making up to 1 million dollars a day from rake from FTP? What would you do out there? Cut and run, declare Bankruptcy, try to make a living playing poker when YOU WOULD NOT BE ABLE TO SHOW YOUR FACE without risk of being beaten up, killed, etc? I know a lot of you are emotional over this because you have a lot of money tied up on FTP.. That is totally normal to be freaked over this. Now, take a breath and think about stuff with logic. FTP is the 2nd largest site in the world. They aren’t UB which took a huge hit over the Russ Hamiliton fiasco. This happened to FTP because they chose to let Ray handle things, and Ray handled stuff badly. This is why RAY, not Howard or the others, IS INDICTED! Jack Binion, do any of you think he is stupid? Do you believe Jack would come in, Buy FTP controlling interest, then screw all the American players he wishes to eventually serve? I really again, would ask all of you to logically think this out. Again, I know it sucks arse to be stuck money, and when it comes to money, we all get emotional over it, especially in this case. It is not that I am asking people to have faith FTP will pay. I am asking all of you to use logic so you can feel a bit better about getting paid. People who know me know that I have always been critical of FTP. My Brother has even got pissed off at me for “bashing on them”.. I try to be fair and logical, I try to get info on this. For your own sanity, please think the current situation totally thru!!
Scott
You nailed it Scott.