Monday, December 19, 2011

Tapie in Dublin could mean Accelerated Start-up

Sources have confirmed that Laurent Tapie 
appeared personally in Dublin today 
and spoke to the employees about the 
hurdles already jumped and those still ahead.


This was a throwaway line in an article about FT and GBT formally agreeing to transfer of assets from FTP (through the DOJ) to Tapie.  What I thought was interesting is that if Tapie is going to use not just the name/branding and software, but the physical set-up and employees, Full Tilt could be operating very quickly online for ROW players. Rather than the start-up being months away, it could be weeks away.

Tapie paid 80 million bucks for some physical assets not worth much and some software with, potentially, unlimited future worth and a $150 million dollar debt.  He also is responsible immediately for the overhead.  So, it's a race.  How fast can he build back his player-base and  generate income against how fast he bleeds money paying out account balances, rent and salaries?  I don't see a way in the world for this to work unless the US comes online in the next 6 mos.

Which means either Tapie is dum as a box o' rocks or he has some insider info and promises.

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