July 31 2012, PokerNews Staff

After months of negotiations with the U.S. Department of Justice, PokerStars has completed the purchase of Full Tilt Poker.

According to diamondflushpoker.com, the U.S. Attorney’s office has approved a deal allowing Full Tilt Poker to forfeit all of its assets to PokerStars. In return, PokerStars will forfeit $547 million to the U.S. government over the next three years. Once the transfer of assets is finalized, PokerStars will make available for immediate cash withdrawal or play the account balances for all of FTP’s non-U.S. players within 90 days.

The total amount of the deal worth $731 million, of which $330 million will go towards the repayment of Full Tilt Poker’s players.

We’ll have more on this story as it develops. For news, updates, and more follow PokerNews on Twitter and Facebook.

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July 30 2012, Chad Holloway

The World Poker Tour Season X continued on Fox Sports Network Sunday night with airing of the conclusion of the Bay 101 Shooting Star from the Bay 101 Casino in San Jose, California. The $10,000 tournament, which drew 364 players and created a prize pool of $3,458,000, originally took place from March 5 through 9, 2012, and offered a $5,000 bounty on the “Shooting Star” participants.

The early stages of the tournament were highlighted in Part I, and the eliminations of Joe Elpayaa and Andrew Badecker took place last week in Part II. The latter was eliminated after raising to 130,000 with on the button only to have Moon Kim move all in from the big blind with . Badecker snap-called for 1.61 million, and it was off to the races. The flop gave Badecker a pair of aces and a 71 percent lead, but the spiked on the turn to give Kim a wheel. The river was no help to Badecker who exited in fifth place for $192,300.

Here is a look at how things stacked up at the final table.

2012 WPT Bay 101 Shooting Star Final Table

First Hand: With the blinds at 30,000/60,000 and a 10,000 ante, Ubaid Habib raised to 150,000 under the gun with and received a call from Joe Serock holding in the small blind. The flop was no help to either player, and Serock checked. Habib nonchalantly tossed out two T100,000 chips for a bet of 200,000 only to have Serock wake up with a check-raise to 440,000. Not to be outdone, Habib three-bet to 725,000 and then showed the bluff when Serock folded.

“That’s how we do it,” the local amateur, who won his way into the tournament via a satellite and had knocked out Shooting Star bounty Jonathan Duhamel, said after the hand.

Habib Hits a Miracle: Serock raised to 160,000 on the button and then called when Habib moved all in for 1.455 million from the big blind.

Showdown

“You just can’t believe he’d make this play after showing his opponent a bluff,” Mike Sexton commented before the cards were turned up. Serock was all smiles upon discovering he was a 67 percent favorite, and that smile got even bigger when the flop made him a 92 percent favorite. Habib had a smile of his own and was looking for running cards, one of which he’d get on the turn. “Could he possibly make a wheel?” Sexton asked. Wouldn’t you know it, the spiked on the river to give Habib the improbably win, which literally made co-host Vince Van Patten fall out of his chair.

Serock Doubles Back: Habib raised to 170,000 from the button with and received a call from Serock, who opted to slow play from the big blind. The flop saw Serock check-call a bet of 200,000, and then both players checked the turn. Serock, who held aces full, checked for a third time on the river, and Habib bet 300,000 with his queen-high flush. Serock proceeded to check-raise all-in for 595,000 and Habib paid off his opponent.

Erik Cajelais Eliminated in Fourth Place: Habib opened for 200,000 under the gun with and was immediately met with an all-in three-bet shove to 460,000 from Erik Cajelais, who held on the button. Kim made the call from the big blind with , Habib called the additional 260,000, and then both active players checked it down as the board ran out . Habib’s pair of queens on the river was good, and Cajelais, who began the final table as chip leader and failed to collect a Shooting Star bounty during the tournament, was eliminated in fourth place for $256,300.

“Just a bad day of poker,” Cajelais told sideline reporter Matt Savage after the hand. “I didn’t have any cards all day, made a few mistakes at the beginning, and the rest is like card dead, and I didn’t have chips to make a move. So, I was waiting for a hand and it never came.”

Joe Serock Eliminated in Third Place: Kim opened for 210,000 from the button and then made the call when Serock moved all in for 1,020,000 from the big blind.

Showdown

It was a classic race situation, but the flop made Serock a 75 percent favorite. Unfortunately for him, the would spiked on the turn to make Kim a 95 percent favorite. The crowd erupted in cheers when the appeared on the river and they realized that the two local amateurs would battle it out in heads-up action; meanwhile, Serock exited in third place for $320,400.

Heads-Up Action: With the blinds at 50,000/100,000 and a 10,000 ante, Kim took a 6.255-million-to-4.655-million chip lead into heads-up play against Habib. In the first hand, Kim raised to 225,000 with only to have Habib make it 500,000 to go with . Kim made a quick call and then watched Habib lead out for 500,000 on the flop. Kim folded and then said, “Good job, man,” after Habib showed the bluff.

In another hand, Kim limped with and Habib checked his option with . Habib led out for 120,000 on the flop, Kim called, and then both players checked the turn. Habib checked the turn, and then check-raised Kim’s bet of 375,000 up to 900,000

“I wouldn’t blame the guy if he paid this off, but he’s gonna raise it, Vince,” Sexton said during the hand. “Really puzzled by this raise. He’s got a hand he can call the guy if he’s bluffing, but in case he’s got a real duke, all you’re doing is burning up your money here.” Sure enough, Kim made the call and was pushed the 2.32 million pot.

A New Bay 101 Champion: Kim opened with a raise to 240,000 with and was called by the of Habib. The flop gave Habib top pair, but also gave Kim a flush draw, so you just knew there would be some fireworks. The former check-raised Kim’s bet of 300,000 up to 900,000, prompting the latter to ask, “How much you got left?”

“I’m all-in,” Kim said. Habib stood, looked at the board, let out a sigh, and then called off for 3.25 million. “It’s coming,” Kim mumbled in regard to his flush draw. Fittingly, the jeweler needed a diamond to capture the title, and while he didn’t get it on the turn, the river brought the !

“Well, first of all, I’m really happy I came this far, but sad at the same time I couldn’t fade one more card and take this whole thing down,” Habib said in his post-elimination interview. “I only feel like a winner, I don’t feel like I lost anything.”

Kim, who won his way into the tournament via a $1,000 satellite, told Sexton, “I feel great,” before celebrating his $960,900 win with family and friends.

Tune in Next Week: A new episode of the WPT Season X is set to air on Sunday, Aug. 4, on FSN, so be sure to check your local listings. If by chance you miss it, check back next week for the latest recap of all the action right here on PokerNews.

Past WPT Bay 101 Shooting Star Champions

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*Picture courtesy of World Poker Tour.

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