Jack Binion close to owning a stake in Full Tilt Poker? Subjectpoker.com has reported that Phil Ivey has been in Ireland meeting with Full Tilt Poker executives to presumably discuss repairing his relationship with the troubled company and how FTP will pay out the USD $60 million it still owes to its US players. Ivey is sponsored by FTP and is rumoured to own a large stake in the company, but their public rift (see Ivey Boycotts WSOP, Sues Tiltware) has apparently been scuttling negotiations on raising capital for the company, which are now reportedly centered around casino legend Jack Binion.
After PokerStars managed to pay out their US players back in April 2011, FTP has come under increasing fire for not finding the necessary funds to settle their debt to US players. One possible reason for the delay that has come to light recently through Bradley Franzen – the payment processor indicted on Black Friday – is a USD $60 million shortfall in funds which were not taken from players’ bank accounts after they had deposited on the site because it simply didn’t have a payment processor in place for the money. FTP was reportedly aware that this “loaning” of funds to players was happening but it was tolerated to keep players from moving to rival sites and the money was expected to be collected at a later date. This has since proved difficult.
Enter Jack Binion, one of the biggest names in the American casino industry. His father, Benny Binion, founded of the Horseshoe Casino, but his son sold his stake in the business in 1998. Jack Binion also founded the World Series of Poker and was appointed Chairman of Wynn International, in charge of Wynn Macau, and now acts as a consultant for the company. Binion has reportedly also been in Ireland discussing investing in the FTP and the two parties are said to be close to reaching a deal.
With a ton of industry and financial clout, Binion’s potential involvement is good news for the beleaguered poker site and any hopes for US players to be paid out anytime soon.
May 18, 2012 by Posted By: Adam Smith
With the launch of Poker Portal Asia’s revamped Player Database, users can now search by country and find out who are the top players from their respective homelands according to how much they have cashed in Asia Pacific tournaments since 2008. To coincide with the launch of this new feature we’re releasing a series of articles showcasing the top cashers in each major Asian...
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May 17, 2012 by Posted By: Adam Smith
May 16, 2012 may just go down as a landmark date in Macau’s poker history as it reportedly saw the widespread introduction of a new regulation allowing multiple poker tables to count as only one gaming table in each casino’s table cap.
According to World Gaming Magazine sources, as of 6am yesterday Macau’s table cap in relation to poker rose so that 20 poker tables wou...
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May 16, 2012 by Posted By: Adam Smith
On May 15, 2012, PokerStars officially launched the fast action ring game of Zoom Poker. The move has come after a successful beta release from March that has seen over 300 million hands dealt and more stakes and games added.
You can now play Texas Hold’em, Omaha, Omaha Hi/Lo and Five Card Draw and various No-Limit, Fixed Limit and Pot Limit variations of Zoom Poker. Stake...
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May 15, 2012 by Posted By: Adam Smith
The poker scene in Singapore just got a welcome boost today with the opening of Resorts World Sentosa’s long-awaited poker room. As the first legal poker room in the country, ‘Poker World’ opened for business at 12pm today and will be operating 24 hours, seven days a week for the foreseeable future.
As reported, the impending opening first came to Poker Portal Asia’s...
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May 15, 2012 by Posted By: Adam Smith
The Metro Independence Day Tournament (MIDT) is once again returning to Metro Card Club, Ortigas – the biggest card room in the Philippines – on June 14-19, 2012 and is a chance for local players to celebrate Philippines Independence Day in style. The tournament will feature a PHP 5000 buy-in this time around, as opposed to last year’s PHP 3000, while the guaranteed prize...
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May 11, 2012 by Posted By: Adam Smith
At long last we can say that PokerStars Macau has found a new home. Well, in actual fact, it’s an old home but what’s important is that Macau’s biggest poker room is finally about to be back in business. PokerStars Macau will officially return to the Grand Waldo Entertainment Complex on June 9, 2012, where it started its days in 2008 before shifting to Casino Grand Lisboa...
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May 11, 2012 by Posted By: Adam Smith
With the launch of Poker Portal Asia’s revamped Player Database, users can now search by country and find out who are the top players from their respective homelands according to how much they have cashed in Asia Pacific tournaments since 2008. To coincide with the launch of this new feature we’re releasing a series of articles showcasing the top cashers in each major Asian...
Read more»
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