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View Full Version : Whispers of UB's Demise....

DeadlyGambit
10-12-2006, 06:01 PM
What is the deal with Ultimate Bet? Are they gonna be shutting out US players? I just switched to UB in light of the new legistlation b/c they indicated that they wouldn't be shutting there doors. However, a couple of recent posts seem to imply that UB could be headed out the door, and I'm kinda worried. Anybody have any info?
BluffTHIS!
10-12-2006, 06:07 PM
There's only 2 other threads on this active right now.
fleece_me
10-12-2006, 06:09 PM
they ponied up 10 million under some shell company to steal the software company back they spun off for hundreds of millions.

this is a good sign that ub is going nowhere.

this is a bad sign if you were seeking integrity out of ub ownership
Artsemis
10-12-2006, 08:08 PM
[ QUOTE ]
they ponied up 10 million under some shell company to steal the software company back they spun off for hundreds of millions.

this is a good sign that ub is going nowhere.

this is a bad sign if you were seeking integrity out of ub ownership

[/ QUOTE ]

You was corrected on the 10M in the other thread.
fleece_me
10-12-2006, 09:56 PM
corrected about what? everything i said was true. the compmay was sold for 10 mill, cash on hand and some phoney I.O.U.
gonebroke
10-12-2006, 09:58 PM
[ QUOTE ]
corrected about what? everything i said was true. the compmay was sold for 10 mill, cash on hand and some phoney I.O.U.

[/ QUOTE ]

I agree with your conclusion. Sportingbet appears to have done the same thing with some of their casino assets. The CEO's should be prosecuted and put in jail and fined.
MagCFO
10-12-2006, 11:14 PM
[ QUOTE ]
they ponied up 10 million under some shell company to steal the software company back they spun off for hundreds of millions.

this is a good sign that ub is going nowhere.

this is a bad sign if you were seeking integrity out of ub ownership

[/ QUOTE ]

Can someone explain how this is a bad sign on UB's integrity? Who are they screwing over? They are a private comapny, thus they can spin off whatever they want to.

I don't understand the comment.
rfrankb4
10-13-2006, 01:31 AM
see the other thread but if this was an american company the Board would owe HUGE sums of money to the shareholders based on breach of their fiduciary duty.
lfairban
10-13-2006, 03:12 AM
If I recall correctly, it was not UB but the company that creates the sofware that UB runs on. You may have noticed it is sort of unique. Anyway, the software company is publicly traded where as UB is not. So somebody, maybe the former WSOP champion who helped design the tournament structure, may be buying up the now discounted shares of the software company and taking it private where they don't have to worry as much about the legal issues as they would if it were publicly traded.

It is all very simple, really. It is probably perfectly legal, but it doesn't reflect well on UB if the people who invested in the spun off software company get screwed out of most of their investment because of the general missunderstanding of the legal issues.

UB is still solid as far as anyone can tell, just got back from their and it is business as usual.

See this link (http://forumserver.twoplustwo.com/showflat.php?Cat=0&Number=7640902&an=0&page=0&vc=1 ) .