September 19, 2012
Large sums of money sourced from the $225 million paid over by Pokerstars in its settlement and Full Tilt Poker acquisition agreements with the US Department of Justice (see previous reports) are being kept in reserve in case claims against Full Tilt assets lodged by the state of Kentucky and private US company Cardroom International […]
September 19, 2012
The second episode of the Poker News interview series with Howard Lederer (see previous reports) is now available to registered users at: http://www.pokernews.com/news/2012/09/the-lederer-files-the-uigea-segregated-accounts-retirement-13432.htm Whilst Lederer continues to profess ignorance on the nitty gritty of Full Tilt financial and management issues, he does give interesting insights into how the company developed and grew, perhaps too fast […]
September 19, 2012
The latest applicant for a Nevada online poker licence – reportedly one of 30 in a growing pipeline of interested companies – is Vintage Vegas Gaming, which has applied for licensing as an operator, service provider and manufacturer, implying that it will bring its own software to the industry. VVG is the owner of one […]
September 19, 2012
International Game Technology chief executive Patti Hart expanded on her company’s withdrawal from the European online poker market in an interview with the Bloomberg business news agency Tuesday. Hart explained that the business shifted from dot-com to dot-country, commenting: “There’s less profitability and the product becomes less interesting.” The IGT decision came after the company […]
September 19, 2012
The Microgaming Poker Network has scored a major coup, announcing Wednesday that iGame Malta Ltd is to join, bringing with it a player base of over a million members with skins like 24hPoker.com, Pokerihuone.com, Casinohuone.com, NoiQ.com and iGame.com. The operator will be moving from an existing network – believed to be the IGT Poker network […]
September 19, 2012
Nelson Burtnick who headed up payment processing for Full Tilt Poker has admitted guilt in conspiring to deceive U.S. financial institutions by miscoding credit card transactions, fraudulently processing e-checks and attempting to corrupt U.S. banks during his tenure at both Full Tilt Poker and prior to that, PokerStars. Canadian born Burtnick (41), who resided in […]
September 18, 2012
This week’s statistics from the independent online poker monitor Pokerscout illustrate how quickly business decisions translate into a modern marketplace, with traffic at IGT Poker network plunging 30 percent in the wake of the US company’s decision to pull back from the sector Amid reports that member sites and players alike have begun to jump […]
September 18, 2012
The Pokerstars Macau Poker Cup Championship 2012 was concluded this week with a resounding main event win for local businessman Rui Chen (37), who entered the HKD 20,000 buy-in competition through a HKD 1,100 Pokerstars satellite, boosting his bank balance by HKD $1,108,500 (around US$ 143,000) after a tense 12 hour final table. “The past […]
September 18, 2012
Veteran professional poker player Howard “The Professor” Lederer has been much in the news lately as one of the key figures in the complicated series of criminal and civil cases that have grown from the Full Tilt Poker debacle (see previous reports). As an allegedly major shareholder who reportedly reaped tens of millions of dollars […]
September 18, 2012
Our readers will recall the extraordinary publicity accorded earlier this year to the bitter legal exchanges between poker pro Beth Shak and her former husband and hedge investment exec Daniel Shak as the two tangled over Ms. Shak’s extensive (believed to be around 1200 pairs) and valuable (around $1 million) shoe collection. This week the […]