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Ivey’s White Knight Deal Almost Done + Full Tilt Poker Podcast
http://cdn.wickedchopspoker.com/wp-c...aficionado.jpg Change that title to the Patron Saint of Poker because Phil Ivey might've just saved Full Tilt.
The LA Times broke a story last night that Full Tilt Poker had sold to a group of European Investors (i.e. Ivey’s White KnightTM). Like Jason Biggs hopping in the sack with Shannon Elizabeth, the story jumped the gun a bit. According to our sources, the deal is almost done, but it’s not there yet. However, theTimes did get it right in that Jack Binion is not involved in this purchase, as has been widely circulated. What still stands in the way of this being a done deal? First, more legal. Like most major acquisitions, this is a complicated deal. Unlike most completed deals, this one needs to wade through a bookkeeping nightmare, as well as shareholder and shell company ambiguity. Next, the Department of Justice will need to bless it as any deal needs to ensure that U.S. players will get their money back. Also, Full Tilt still needs a gaming license, you know, so it can operate its business. We don’t want to paint a gloomy picture here, all signs point to the positive. But to paraphrase Winston Wolf, “let’s not start sucking each other’s dicks quiteyet.” We’ve been involved in enough deals over the years to know that a deal is not done until all contracts are signed and money has been wired. So how did the Full Tilt deal (potentially) (re)happen? Here’s how we see it. [NOTE: THIS IS MOSTLY OUR SPECULATION] It’s been widely reported that Phil Ivey was back in Dublin. He went there as discussions with his White Knight got put back on the front-burner. As talks rapidly progressed, Ivey dropped his lawsuit (can’t have a lawsuit pending from a shareholder and face of the company if you–as an investor–are going to buy a company). One of the main reasons Tilt management (Ray Bitar, Howard Lederer) rejected the White Knight deal the first time was the majority control (or amount of it) the buyer wanted. With no other viable options left, and with the AGCC revoking Tilt’s gaming license, Tilt management was essentially left with no other choice but to get this deal done. And that’s where we’re (almost) at. If everything eventually gets locked in and the deal is blessed by the DoJ and whoever is going to license Tilt in the future, you can bet that Phil Ivey will become the Patron Saint of the Poker WorldTM. With that out of the way, we recorded our first Wicked Chops Podcast yesterday with some friends from across the pond–Ben Fried, who launched Betfair’s poker room–and Kim Lund, who did the same for Poker Room. While some of the content is already dated (a lot of it is speculation about Tilt’s future in light of the AGCClicenserevocation), still some interesting European perspective on the Tilt situation and their international market perception. Visit Ben Fried’s consulting company, Gaming Edge Associates, here. Visit Kim Lund’s consulting company, Infinite Edge Gaming, here. Download the podcast on iTunes later today. Related Posts
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Rhea's Return
Rhea emerges ... After being occulted by the larger moon Titan. Occultation is a celestial event in which a larger body covers up a distant object. Observations such as this one, in which one moon passes close to or in front of another, help scientists refine their understanding of the orbits of Saturn's moons. Titan is about 621,000 miles (1 million kilometers) from Cassini in this image. Rhea is about 1.4 million miles (2.3 million kilometers) from Cassini. The image was taken in visible light with the Cassini spacecraft narrow-angle camera on Oct. 27, 2009. Image scale is 4 miles (6 kilometers) per pixel on Titan and 9 miles (14 kilometers) per pixel on Rhea. Image Credit: NASA/JPL/Space Science Institute
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Strauss-Kahn released from house arrest
Judge frees former IMF chief after evidence from his accuser is queried by prosecutors, but alleged rape case continues.
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4th Of July: Avoid The Tacky Clothing
Filed under: Fashion Files
From HelloBeautiful: With the fireworks in sight, it's time to pick out an outfit that's comfortable, light, and full of spirit. But just how much spirit is too much spirit? Of course, it's fun to do the stars, stripes, and overwhelming shades of red, white, and blue when you are young. But it's time to kick it up a notch and add some class to your July 4th outfit while still representing the land of the free and the home of the brave! Read more here.Share Tweet Permalink | Email this | Linking Blogs | Comments More... |
Nike re-signs Eagles QB Michael Vick to endorsement deal
Nike has officially renewed its relationship with Eagles QB Michael Vick , signing him to an endorsement deal nearly four years after dropping him in the wake of the dogfighting scandal that disgraced him and led to his incarceration. Eagles QB Michael...(read more)http://blackamericans.com/aggbug.aspx?PostID=289471
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Rulers Of Evil - Tupper Saussy
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Big Camera
As we look at all these old pictures, we forget how different photography was back in the day. Today's picture is from the Harris and Ewing news service, and it shows a typical portrait camera from the early 1900.s While bulky, these cameras took excellent pictures. I don't know if you have ever noticed this, but the little "Brownie" cameras that everyone had in the 1920's through about 1940's took excellent pictures. When I look at old family snapshots, I am amazed by the clarity and contrast that most of the pictures had. Then somewhere about the 50's or 60's the "instamatics" and "poloroids" came out, and the pictures were TERRIBLE! The low point of photography came with the 110 instamatic, and with the color polaroid that spit out a tiny picture that developed in front of your eyes. Those were dark days indeed for photography. With the advent of the modern digital camera, photography has gotten much better. I am amazed with the quality of picture that you can get from a $100 camera these days. I also believe that people are starting to become better photographers, thinking more about the pictures that they are taking. https://blogger.googleusercontent.co...s.blogspot.com http://feedads.g.doubleclick.net/~a/...awmoZY0Ks/0/di http://feedads.g.doubleclick.net/~a/...awmoZY0Ks/1/di http://feeds.feedburner.com/~r/blogs...~4/jRNyv0XBNCQ More... |
Daily Pic # 1211, “The Captain?s?
http://www.treksinscifi.com/trekdail...1_Captains.jpg
A great picture of two legendary actors – and Captains. Learn more about this HERE. More... |
Video: SÃÂn Cara vs. Christian en WWE SmackDown
Este es el encuentro entre Christian y SÃÂn Cara de las pasadas grabaciones de WWE SmackDown (1 de julio), desde el US Airways Center en Phoenix, Arizona. El Captain Charisma logró derrotar al mexicano por cuenta de tres, tras aplicarle una Spear. Por lo que la racha ganadora de la “maravilla enmascarada†ha llegado a [...]http://stats.wordpress.com/b.gif?hos...as&ref=&feed=1
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PHOTO: Gwyneth Goes TOPLESS In Vanity Fair
Another 50-50 sexy celebrity today, maybe 60-40, Gwyneth Paltrow has her detractors and her lusters, both sides pretty passionate about this second ge... Read more: Gwyneth Paltrow Vanity Fair, Gwyneth Paltrow Topless, Vanity Fair, Celebrity Skin, Gwyneth Paltrow, Entertainment News
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