Looks like Pocket Kings is going kablammo

3DataModem

http://www.egrmagazine.com/news/1673787/breaking-news-alderney-suspends-full-tiltsoperating-licence.thtml

A lot of people working out there. Can't do business for a month. I guess that means a lot of redundancies. Sucks.

starlit

Really? Thought they recently set up a business a few months ago and had vacancies etc I applied there but no luck with them. Interesting...how business go belly up after a short time. What is Ireland coming too. The economy has gone bust, how we going to walk out of this one!

Nody

Their problem has nothing to with Ireland and all to do with the fact the US shut down some online gambling sites and (which they supported).

flash harry

they didnt really go belly up after a short time to be fair....they're in Cherrywood a while and Full Tilt is around since 2005(ish?)

Fortunately for a good deal of their employees there will be options as the industry in general in thriving globally.

We cannot get people most of the time for a UK and a Spanish based client in the exact same industry (software developers/IT and gaming marketing roles typically) as they are in such high demand.

FH

p.s. an PK people looking PM me

um7y1h83ge06nx

Is it not a bit pre-mature to start talking about redundancies there?

It's obviously not good news but still.

3DataModem

Their business is completely shut down, and they employ 700 people in Cherrywood. This is a real shame.

gandalf

Bugger I know people working there!

3DataModem

Nody wrote: »

Their problem has nothing to with Ireland and all to do with the fact the US shut down some online gambling sites and (which they supported).

Pocket Kings supports Full Tilt Poker. Full Tilt Poker hasn't dealt a hand in over 24 hours, so is making no money. Now they have no licence. This is bad.

Edit: Nody is right, nothing to do with Irish Economy or credit crunch or downturn. I misunderstood his post.

Eoin

From [URL="Further fears for 600 Dublin jobs as poker site has licence suspended Read more: http://www.breakingnews.ie/ireland/further-fears-for-600-dublin-jobs-as-poker-site-has-licence-suspended-510974.html#ixzz1QlCPTbLX"]breakingnews.ie[/URL] today

Further fears for 600 Dublin jobs as poker site has licence suspended

An online gambling site which employs around 600 people in a Dublin subsidiary has had its licence to operate suspended by authorities in the Channel Islands, prompting fears for the future of the jobs.

The Alderney Gambling Control Commission in a statement last night said it had suspended the licences of Vantage Ltd, Oxalic Ltd, Filco Ltd and Orinic Ltd, which collectively trade as Full Tilt Poker.

"The decision to suspend these licenses follows a special investigation prompted by the
indictments unsealed by US Attorney General’s Office in the Southern District of New York
on 15 April 2011, during which grounds were found to indicate that these licensees and their
business associates were operating contrary to Alderney legislation," the Commission said in the statement.

The company Pocket Kings, based in the Cherrywood business centre in Dublin, is a service provider to Full Tilt Poker and employs around 600 people here in areas such as IT support, fraud detection, marketing and customer services.

The latest developments follow the indictment in April of executives from the three largest online gambling sites in the US - Full Tilt Poker, PokerStars and Absolute Poker - with 11 people charged with bank fraud, money laundering and illegal gambling offences.

Among the accused is 39-year-old Raymond Bitar, chief executive of Full Tilt Poker, and a director of Pocket Kings.

A regulatory hearing on the suspension of Full Tilt Poker's eGambling licence will be held on London on July 26.

The fulltiltpoker.com website today appeared to be offline, with a 'maintenance in progress' notice posted on its homepage.

3DataModem wrote:

Perhaps you misunderstand. Pocket Kings supports Full Tilt Poker. Full Tilt Poker hasn't dealt a hand in over 24 hours, so is making no money. Now they have no licence. This is bad.

Nody was correct. He was saying that the problem isn't down to Ireland's economic woes, as another poster suggested, but down to the legal issues in the States.

shoegirl

There is talk of Full Tilt being bought out by Europe based investors. While the US is a huge market there is still a considerable gambling market online outside of the USA.

3DataModem

The European investors' exclusivity deal on DD ends on 21st and the AGC licence hearing is on 26th. One way or another we will know more by then.

breadmonkey

3DataModem wrote: »

<snip>
The European investors' exclusivity deal on DD ends on 21st and the AGC licence hearing is on 26th. One way or another we will know more by then.

I thought you worked for Pocket Kings?

3DataModem

breadmonkey wrote: »

I thought you worked for Pocket Kings?

Used to work there, not any more. A lot of friends still working there.

Eoin

rick_fantastic, please keep the recruitment to the Job Vacancies thread.

3DataModem

US employees reportedly laid off. http://www.quadjacks.com/2011/08/23/chris-porter-leaves-full-tilt-poker-layoff-of-all-u-s-staff-reportedly-complete/

3DataModem

http://www.pokerstrategy.com/news/world-of-poker/Exclusive:-PokerStrategy.com-Receives-New-Full-Tilt-Poker-Statement_51523/

Oranage2

Everybody sent home today and rumours of redeuncies and lay offs - not great times for a Pocket king worker

Eoin

News reporting 250 jobs at risk - no mention of people being sent home (and it would be good to back these up with links please).

http://www.independent.ie/business/irish/fears-growing-for-250-technology-jobs-in-dublin-2877132.html

Oranage2

Eoin wrote: »

News reporting 250 jobs at risk - no mention of people being sent home (and it would be good to back these up with links please).

http://www.independent.ie/business/irish/fears-growing-for-250-technology-jobs-in-dublin-2877132.html

It doesnt need a link - its a breaking news story -

I know people that work there and they were sent home = LINK

RoboSpud

Eoin wrote: »

News reporting 250 jobs at risk - no mention of people being sent home (and it would be good to back these up with links please).

http://www.independent.ie/business/irish/fears-growing-for-250-technology-jobs-in-dublin-2877132.html

I work there, people were sent home yesterday to contemplate the news which they had been given. Back to "work" today however, although that in itself is bemusing, as we have not been doing anything work related for nearing 3 months now!

castorpollux

RoboSpud wrote: »

I work there, people were sent home yesterday to contemplate the news which they had been given. Back to "work" today however, although that in itself is bemusing, as we have not been doing anything work related for nearing 3 months now!

RoboSpud

Do you have any word on what is happening other than this new press release that came out early this AM? I heard that there was some talk that pay was not guaranteed after September and that people were looking for work. Also heard that many key developers had already quit. Any truth?

mickman

castorpollux wrote: »

RoboSpud

Do you have any word on what is happening other than this new press release that came out early this AM? I heard that there was some talk that pay was not guaranteed after September and that people were looking for work. Also heard that many key developers had already quit. Any truth?

im sure it is. they cant keep paying them if the company has no income plus the developers would walk into other work in a day or so .

3DataModem

mickman wrote: »

the developers would walk into other work in a day or so .

Many already have.

castorpollux

3DataModem wrote: »

Many already have.

Well, that is what is odd, from the outside they seem to be acting like its business as usual. Would be nice to hear what people who are working there right now must be seeing (and feeling)....I mean, its like 3 months and not only no revenue but no business, what is everyone doing? Any comments?

Clearly they are trying to get funding, but who really believes that is likely....

They need like €200M, who is going to fund that for a business down that long and looking longer.

Oranage2

castorpollux wrote: »

Well, that is what is odd, from the outside they seem to be acting like its business as usual. Would be nice to hear what people who are working there right now must be seeing (and feeling)....I mean, its like 3 months and not only no revenue but no business, what is everyone doing? Any comments?

Clearly they are trying to get funding, but who really believes that is likely....

They need like €200M, who is going to fund that for a business down that long and looking longer.

What you a reporter or something?

castorpollux

Oranage2 wrote: »

What you a reporter or something?

Just damn curious....its an odd situation.

3DataModem

castorpollux wrote: »

They need like €200M, who is going to fund that for a business down that long and looking longer.

Closer to 500m.

> 200 potentially for the DOJ.
> 300 for the player segregated accounts.

So buyer has to drop half a bil into a hole before opening the doors.

3DataModem

Licence revoked.

http://www.gamblingcontrol.org/userfiles/frontpage/FTP_statement.pdf

Commiserations to all the staff, best of luck for whatever's next.

flash harry

PM me PK people if looking for gaming roles in Ireland, UK, Spain.....developers, affiliate managers, seo, etc etc....

FH

ciarriaithuaidh

http://www.igamingfrance.com/full-tilt-exclusive-in-his-first-interview-laurent-tapie-says-he-believes-in-the-full-tilt-project-and-has-the-funds-to-repay-players-but-admits-there-is-%E2%80%9Cstill-a-long-way-to-go%E2%80%9D/24972

Tapie family agrees to buy Tiltware...Could be a lifeline for Pocket Kings and Full Tilt...

Giblet

US want to control their own gambling and reap the benefits directly. These will be bought up by someone else. (Looks like it has started already)

3DataModem

180 to go...

http://www.irishtimes.com/newspaper/finance/2011/1022/1224306295486.html

3DataModem

Great too see they are hiring again (and applying for a licence). More competition will make the business tougher, but good to see some keeping / regaining their jobs (and some new jobs being created).

WolfgangWeisen

What happened Pocket Kings was a shame, but I'd be very hesitant to work for a company associated with Full Tilt Poker after all that has happened, regardless of who is owning it now.

feylya

They're part of Paddy Power now, aren't they?

tHE vAGGABOND

They're part of Paddy Power now, aren't they?

Not the company, only 90% of the ex-employees jumped ship from PK'ings to Paddy

ciarriaithuaidh

WolfgangWeisen wrote: »

What happened Pocket Kings was a shame, but I'd be very hesitant to work for a company associated with Full Tilt Poker after all that has happened, regardless of who is owning it now.

Fulltilt has basically ceased to exist. GBT (Group Bernard Tapie) is in negotiations to buy the company and its gaming licences. None of the employees of PK are to blame or could have known anything about the situation that unfolded. It was a handful of individuals at the top who basically lined their own pockets and were very negligent.

WolfgangWeisen

ciarriaithuaidh wrote: »

Fulltilt has basically ceased to exist. GBT (Group Bernard Tapie) is in negotiations to buy the company and its gaming licences. None of the employees of PK are to blame or could have known anything about the situation that unfolded. It was a handful of individuals at the top who basically lined their own pockets and were very negligent.

Oh I've no doubt that the average employee knew nothing of the financial mess Ferguson, Lederer and Bitar were driving the company into. However, it remains that I would be very hesitant to work for what was Full Tilt Poker simply because I believe the association may have a negative effect on your employability down the line.

Pilpkiller

Hi guys first time poster. Been scouring the web looking for info on pocketkings rehiring. Has anyone heard any news on if they are opening again soon? Sorry for my first post being a dumb question but those feckers have $600 of mine for ver a year now (fulltilt not pocket kings employees personally )

keane2097

Pilpkiller wrote: »

Hi guys first time poster. Been scouring the web looking for info on pocketkings rehiring. Has anyone heard any news on if they are opening again soon? Sorry for my first post being a dumb question but those feckers have $600 of mine for ver a year now (fulltilt not pocket kings employees personally )

For matters relating to Full Tilt paying out you'd be much better off asking about it on 2+2.

Pilpkiller

Yeah been looking there but WAYYYYYY too many people shouting at each other was hoping for a less noisy forum lol

keane2097

Pilpkiller wrote: »

Yeah been looking there but WAYYYYYY too many people shouting at each other was hoping for a less noisy forum lol

Ha, I know what you mean but in fairness they will be first with any new info that becomes available.

Irish Poker Boards is another place worth trying.

Pilpkiller

Thanks

Pilpkiller

WOW

Looks like the buy out from Bernard Tapie has fallen through and now poker stars is going to buy fulltilt.