UB Software Provider Out - The Merry-go-round continues

[fleece_me]

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So basically you created this thread to say "investing in online poker concerns is rigged" didn't you?

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Nope. Didn't see the other thread. Quit being a nit and behold the awesomeness of the theft that is taking place here.

They took a company public for several hundred million dollars.

Annie Duke and Phil H made 30 million each. Antonio Made 1 million for his 1/4 of 1 percent.

They are buying it back for 10 million.

Get it?

[BluffTHIS!]

Good for them and bad for the suckers who invested.

[fleece_me]

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I read the article and don't quite understand what it means. Can somebody knowledgeable explain what this means for the future of UltimateBet? Thanks.

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The founders of UB just dumped 10 million back into the online gambling business.

It is great news for UB players because it is a 10 million dollar commitment to stay in business.

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UB's software provider is dumping their gaming software business, so UB either has to start maintaining and upgrading their software themselves, or find new software.

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LOL. Who do you think EXCAPSA was? It is and was and always will be UB.

When there is fear, 2 things happen. You can get rich(er) and you can use that fear as an excuse to do otherwise unexcusable things.

Behold the great robbery.

[tmfs]

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I read the article and don't quite understand what it means. Can somebody knowledgeable explain what this means for the future of UltimateBet? Thanks.

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[MagCFO]

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I agree.

I mean where was the shareholders meetings held to decide to sell the software side of UB back to Russ H?

Where are the declarations from the AIM that these businesses cease trading if they don't get out of the US market?

Where are the declarations from the UK that these companies are breaking the law?

Of course they were all breaking the law. Sports betting has been illegal since 1961 and most of these poker sites are breaking a ton of state gambling laws by operating in each state. Of course there has never been a single state CRIMINAL prosecution of a gambling site so they can operate with impunity.

The whole thing is a scam and a very profitable one at that.

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What you aren't thinking about is the possible shareholder suits that could arise from doing business in the US (where poker is illegal).

If something happens (an executive is arrested by the DOJ) and the stock price tanks, shareholders will sue left and right.

I believe that is the main factor in public companies pulling out.

[fleece_me]

MagCFO, I disagree. When we see Cryptologic pull out and Real Time Gaming relocate from United States soil then I will believe you. As a shareholder I want to see them continue to do business here and I don't care who goes to jail as long as they stay in business. This isnt about lawsuits this is about pulling a damn good move at the perfect time.

Also note that the biggest provider of sportsbook software is a company called ASI. They are also located stateside.

This was a perfect opportunity to have a burglary and that is exactly what happened.

You can see how a regulated, ethical software company conducts itself by watching cryptologic.

[schlucky1]

WTF, I just read half of this thread and it's giving me a headache. Is this good or bad? Is UB staying or going? Simple answers please.

[Nate tha\\\' Great]

Please read the article carefully before inciting a riot. This company is NOT shutting out its US business. Instead, it has sold its business to a private, offshore entity that will have fewer concerns from a legal angle.

THERE IS NO REASON, BASED ON THIS ARTICLE, TO BELIEVE THAT ULTIMATE BET WILL BE CHANGING ITS PLANS ANY TIME SOON. In fact, it is probably deseriable to have as many links in the online gambling chain as possible sold to private interests.

[Vern]

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Please read the article carefully before inciting a riot. This company is NOT shutting out its US business. Instead, it has sold its business to a private, offshore entity that will have fewer concerns from a legal angle.

THERE IS NO REASON, BASED ON THIS ARTICLE, TO BELIEVE THAT ULTIMATE BET WILL BE CHANGING ITS PLANS ANY TIME SOON. In fact, it is probably deseriable to have as many links in the online gambling chain as possible sold to private interests.

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Nate,

Having read the whole thread, I think that was tehir point but they added the opinion that it was a sleezy move against the share holders. I did not get any doom and gloom on UB's continued operation from the thread, just a general impugning of the ethics of the UB operators.

[Zele]

Meh, buying shares is risky. I don't see anything particularly sleazy in this.