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Calling In Fulltilt Poker Loans To Pros
Saturday August 4,2012 : CALLING IN THE FULL TILT POKER LOANS
Ray Bitar's spreadsheet on loans to poker aces could run into millions
In the wake of the Pokerstars takeover of Full Tilt Poker the story of generous loans made by the failed online poker operator to a number of high profile players/stakeholders...and when the new owner will call them in...is gaining traction in news media this week.
Groupe Bernard Tapie, the erstwhile front-runner to acquire FTP, revealed earlier this year that its due diligence checks had uncovered a number of generous loans totalling over $18 million that had been dished out to favoured players by FTP's CEO Ray Bitar.
Respected pro Barry Greenstein confirmed that he was one such recipient, and that he would be repaying the $400,000 he had been loaned once the ownership question was clear. Other recipients of Bitar's generosity were not so forthcoming.
The loans issue was further revitalised when it was revealed in recent documents pertaining to the Pokerstars takeover that Bitar had delivered up to Pokerstars an Excel spreadsheet detailing the disbursements.
Neither the amounts involved nor the names on the spreadsheet have been made public, but inevitably leaks have led to claims on poker message boards that top players like Phil Ivey, Mike Matusow, Erick Lindgren and David Benyamine are involved.
Leading message boards like twoplustwo sport long threads of mainly speculative posts regarding the FTP loans from ordinary players who have been waiting impatiently for payment for the past 15 months, and therefore have a lively interest in how FTP monies were spent... and how much will be recouped by the new owners.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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