Stars Update #2
 

For those of you who didn't read my previous thread, use search and you'll see why I'm posting this.

I received a PM on Saturday telling me that PokerEdge(the company that was banned by like every site) is including Stars on it's list of sites no longer accepting US players. I immediately shot off an e-mail to some people at FTP and Stars to notify them.

I was told that this info was "misinformation".

Accordingly, I get the feeling that a lot of wrong information towards Stars in the past two weeks has been malicious in intent. I also got a e-mail from a friend of mine who is a big affiliate saying that one of the FTP Affiliates had been promoting the fact that Stars was gone in order to try and lure more clients into his rakeback business. I believe he was told to stop from FTP, but could be off base with that. Things like this may be where alot of the wrong info has come from.

All information that I have is telling me that Stars has finished getting a statement from their lawyer in writing regarding the issue at hand, and should be issueing a statement later this week. I think the only remaining issue at hand is discussing their plans with the political figures of the countries that they reside in, which obviously will be a very important meeting.

Just trying to keep you guys up to date. If you have something specific to say, feel free to PM. I'll try to keep up with the thread.

-ZBT

Re: Stars Update #2
 

So you are basically saying that if they get good feedback on extradition isssues they will stay in business?

Re: Stars Update #2
 

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So you are basically saying that if they get good feedback on extradition isssues they will stay in business?

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I'm not "saying" anything. I have never had this told to me in so many words.

But that is my feeling of the whole situation.

Re: Stars Update #2
 

[ QUOTE ]
I received a PM on Saturday telling me that PokerEdge(the company that was banned by like every site) is not including Stars on it's list of sites no longer accepting US players.

[/ QUOTE ]

For my understanding the above put a little different but hopefully more clear but I concede maybe not:

I received a PM on Saturday telling me that PokerEdge (the company that was banned by like every site) has list of sites no longer accepting US players. PokerStars is not on that list.

Not trying to be a nit, just wanting to make sure I understand. Thanks for the info.

Re: Stars Update #2
 

[ QUOTE ]
[ QUOTE ]
I received a PM on Saturday telling me that PokerEdge(the company that was banned by like every site) is not including Stars on it's list of sites no longer accepting US players.

[/ QUOTE ]

For my understanding the above put a little different but hopefully more clear but I concede maybe not:

I received a PM on Saturday telling me that PokerEdge (the company that was banned by like every site) has list of sites no longer accepting US players. PokerStars is not on that list.

Not trying to be a nit, just wanting to make sure I understand. Thanks for the info.

[/ QUOTE ]

Indeed, I fixed my double negative above. I noticed this, and thought I already fixed it..Oh well. Thanks.

Re: Stars Update #2
 

Like I said in another thread I started but got moved, they have to be preparing to dump all american players anyway.

Party has already started the process, cutting off transfers, making plans to pro-rate bonuses, cancelling tournaments etc.

Stars has to do this too. On Friday, Bush will be signing this law, and if Pokerstars accepts one deposit after that point, they will be breaking this law.

So they obviously have to decide if this law applies to them.

People keep posting, *maybe they will just wait the 270 days to see what the restrictions and regulations are*

No, thats not the point. Either they are going to continue to accept deposits, or they are not. They aren't going to keep accepting deposits, then in 270 days decide its too hard because of regulations and stop.

By that point it will be too late and they will have already broken the law anyway, so what does it matter? The only decision is *does this law apply to us?*

In fact, by Friday it will be too late, so they better get their act together and decide soon.

Re: Stars Update #2
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I received a PM on Saturday telling me that PokerEdge(the company that was banned by like every site) is not including Stars on it's list of sites no longer accepting US players.

[/ QUOTE ]

For my understanding the above put a little different but hopefully more clear but I concede maybe not:

I received a PM on Saturday telling me that PokerEdge (the company that was banned by like every site) has list of sites no longer accepting US players. PokerStars is not on that list.

Not trying to be a nit, just wanting to make sure I understand. Thanks for the info.

[/ QUOTE ]

Indeed, I fixed my double negative above. I noticed this, and thought I already fixed it..Oh well. Thanks.

[/ QUOTE ]


That correction you made makes all the difference in the world. [img]/images/graemlins/smile.gif[/img]

Thanks for the update.

Re: Stars Update #2
 

[ QUOTE ]
Like I said in another thread I started but got moved, they have to be preparing to dump all american players anyway.

Party has already started the process, cutting off transfers, making plans to pro-rate bonuses, cancelling tournaments etc.

Stars has to do this too. On Friday, Bush will be signing this law, and if Pokerstars accepts one deposit after that point, they will be breaking this law.

So they obviously have to decide if this law applies to them.

People keep posting, *maybe they will just wait the 270 days to see what the restrictions and regulations are*

No, thats not the point. Either they are going to continue to accept deposits, or they are not. They aren't going to keep accepting deposits, then in 270 days decide its too hard because of regulations and stop.

By that point it will be too late and they will have already broken the law anyway, so what does it matter? The only decision is *does this law apply to us?*

In fact, by Friday it will be too late, so they better get their act together and decide soon.

[/ QUOTE ]

I'm not going to go too deep into this, but pretty much every conversation I've had with anyone at any site says this is completely 100% not true.

The sites have several concerns.

#1 is legal. LEGALLY. The decision must be made by Friday.

But Running a close #2 is money. If the countries they live in are not going to extradite them, then the next worry is that they will not be able to get money to their players. THIS will NOT be decided until the regulations are written.

I think there is a VERY good chance you might see FTP and Stars stick around until the regulations are written. If the regulations allow Neteller/Easy Work Around...they will stay open.

If they do not, they will fold. Quickly.

Re: Stars Update #2
 

[ QUOTE ]
Like I said in another thread I started but got moved, they have to be preparing to dump all american players anyway.

Party has already started the process, cutting off transfers, making plans to pro-rate bonuses, cancelling tournaments etc.

Stars has to do this too. On Friday, Bush will be signing this law, and if Pokerstars accepts one deposit after that point, they will be breaking this law.

So they obviously have to decide if this law applies to them.

People keep posting, *maybe they will just wait the 270 days to see what the restrictions and regulations are*

No, thats not the point. Either they are going to continue to accept deposits, or they are not. They aren't going to keep accepting deposits, then in 270 days decide its too hard because of regulations and stop.

By that point it will be too late and they will have already broken the law anyway, so what does it matter? The only decision is *does this law apply to us?*

In fact, by Friday it will be too late, so they better get their act together and decide soon.

[/ QUOTE ]

My take is that in the opinion of the U.S. government, Stars has already violated U.S. laws. Witness the arrests that have taken place of foreign execs mentioned in the thread about the Barron's article among many other places.

Re: Stars Update #2
 

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Witness the arrests that have taken place of foreign execs mentioned in the thread about the Barron's article

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Still this is unclear, these are sports betting sites and they used the phone to take bets (if not worse)