Online Poker

Wall Street Journal reports on PokerStars buying Full Tilt Poker

by Jeremy

What were mere rumors yesterday have become fact today in regards to PokerStars plans to purchase Full Tilt Poker. This is even truer when you consider the fact that the Wall Street Journal has jumped into the fray by reporting on this monumental prospective deal.

Just hours after Groupe Bernard Tapie’s attempts to buy Full Tilt Poker failed, PokerStars apparently jumped into negotiations with the US Department of Justice. As the WSJ wrote, there are no details about how much Stars would pay for their former rival, nor is there any word on what exact assets they’d be receiving. However, even without details, this is a huge potential deal that could move PokerStars closer to an online poker monopoly.

As for speculation on this deal, the WSJ wrote the following:

The deal would include a way for poker players worldwide to retrieve funds they had deposited with Full Tilt Poker, the person said. Around $300 million was credited to poker players and not paid by Full Tilt, about half of that to players based in the U.S.

PokerStars executives have been conducting due diligence at Full Tilt’s Dublin, Ireland, offices for the last few days, according to the person.

Going back to our original thought on PokerStars moving towards a monopoly of the industry, they already command around 40-45% of total online poker traffic. And considering that FTP held around 20% of the online poker market when they were in business, Stars could give their player base a huge boost by purchasing Full Tilt.

Of course, this is all assuming that Stars’ negotiations with the US DOJ go well, and the former FTP players stick around when a deal is completed. After all, many players could just take their bankroll and run considering how long they’ve waiting for the money.

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