Murmurs and hubbub rising from the Full Tilt/GBT rubble
You hear a lotta stuff … ok, maybe not so much now without 2+2 … but regardless, I go to our Manhattan-based pal Wendeen in matters of DOJ vs. Full Tilt/PokerStars et al … and sure, even though I was all over so-called poker radio screaming that there wasn’t a chance the supposed GBT/Full Tilt bailout plan would go through, Pokerati was just spouting on “instinct” and maybe “hunch” while Wendeen was collecting actual data to either confirm or deny various pieces of the ongoing online poker saga unfolding in her SDNY back yard.
Check out her latest in Poker Player Newspaper — Full Tilt Creates Drama at PokerStars. Wendeen doesn’t seem as willing as I am to flat-out scoff and pshaw at any suggestion that PokerStars could swoop in and “save” Full Tilt (while saving itself for less than a billion) … but she does provide more facts to put any emerging hubbub in context — including some rather interesting narrative about PokerStars’ designs on going public and American banking giant Morgan Stanley’s interest in online poker sites prior to Black Friday.
A good companion piece of reading is DiamondFlush’s GBT post-mortem, which includes the email Laurent Tapie sent to his extended inside circle, giving not only his presumably honest perception of the deal as it went afoul, but also insights into some of the hard, painful numbers in play.