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Bernard Tapie Proposes Pocket Kings Coup

May.01, 2012 7:02:PM
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There has been some interesting developments in regards to Groupe Bernard Tapie and their failed deal with Full Tilt Poker. Earlier today, a story was published on Diamond Flush Poker regarding the failed deal and an email that Bernard Tapie sent to key staff members at Full Tilt Poker.

The email talks at first about why the deal failed. According to Tapie, the DOJ required that they repay the $184 Million owed to players outside the United States within a 90 day period of closing the deal, and they felt this was unreasonable. They also laid out what their plan was that called for most players being paid on the first day and other being spread out over a period of five years.

The most interesting part of the email regards Tapie’s discussion about how Pocket Kings does not have the money to continue to pay salaries past April and it does not appear that anything will be done to guarantee jobs with the company.

From that point, Tapie lies out a plan where he plans to open his own online poker company under the auspices of Gamed Cubed that he created in Ireland. However, in order to do so, he requires that the entire staff of Pocket Kings join him and asks that the decision be made by the end of the week.

His offer is to keep employees at their current salary levels, benefit levels, and seniority levels. From there he plans to have a new platform created that he claims will be the “best of breed in 6-7 months.” He also plans to have Poker Strategy setup an affiliate program for the new company.

If the employees of Pocket Kings accept this deal, they will have to sign a non-disclosure agreement as well as a non-compete and a non-solicitation agreement as part of their employment.

At present, there are no reports on anyone accepting the deal from Tapie, but per the terms of his offer, we should know something about this by the end of the week. We will keep you informed on this story as more information is made available.