Howard Lederer getting the eff outta dodge?
All right, we’re not going to add to the Full Tilt Poker pro pile on, at least regarding the venom pouring out towards the site’s alleged founders.
The Tilt U.S. cash-out problems have way more to do with the day-to-day (mis)management of Ray Bitar and others than the guys who founded the site. Maybe said founders could’ve paid a more critical eye to the books over the years, or player account funds could’ve been segregated from business operation funds [face palm], but who’s keeping track when you’re making A-Rod-money?
However, in light of The Events of 4/15TM, it looks like some of the associated founders are going to be taking a decidedly less high-profile role with the company, or potentially leave the country all together.
First, two long-time PPA Board members–Howard Lederer and Chris Ferguson—are no longer part of the organization. Ultimately, Tilt is probably looking to cut expenses in the marketing department and the ONYX Cup and PPA were easy choices to scratch off the line-item expenses. Zing!
Second, it appears as if Howard Lederer’s dream $4.75M Las Vegas home is now up for sale.
Lederer spent years building the property, and it’s widely recognized as one of the sickest pads in Las Vegas.
Read more about it here. And you’ll need to register an account, but you can view the listing here.
UPDATE: Nevermind. Forgot Rule #1 of poker journalism. Always verify a story if your source is Gambling911. The above house listed is the house across the street. Blah.
UPDATE 2: Looks like this correction unpublished. Working through technical glitches between this and our Disquss comments.
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May 17, 2011 9:26 pm,
This house belongs to the players of Full Tilt…at least it seems it was paid for with our funds that were on deposit. If they took too much money out of the company and have been living this extravagant lifestyle with the player’s money, then Lederer, Ferguson, et al should be selling all their assets to pay us back.
May 20, 2011 2:20 pm,
Couldn’t agree more. Don’t let the players take the hit!
May 17, 2011 9:42 pm,
I don’t know… that house is listed on realtor.com as having been for sale for 257 days: http://www.realtor.com/realestateandhomes-detail/91-Hawk-Ridge-Dr_Las-Vegas_NV_89135_M12965-47122?source=web
On Zillow, it’s marked as having been for sale for 177 days. http://www.zillow.com/homedetails/91-Hawk-Ridge-Dr-Las-Vegas-NV-89135/89591308_zpid/#{scid=hdp-site-map-bubble-address}
It’s not like it went up for sale just in the time since 4/15.
May 18, 2011 12:06 am,
It’s also the wrong address for his house…
May 17, 2011 9:56 pm,
How can you shift the blame away from founders when a) Lederer was previously based in the Dublin office and running the show for a good chunk of time and b) Ferguson made regular trips to Ireland to check on things (only what you would expect of the biggest shareholder).
Anyone who worked in PK (especially the original LA’ers) can verify this.
May 18, 2011 2:19 am,
Thats not even his house bad reporting wicked chops.
May 18, 2011 3:36 am,
You guys are idiots. The house that’s for sale is 91 Hawk Ridge owned by Robert Forbuss. Public info at http://www.clarkcountynv.gov/assessor
May 18, 2011 4:43 am,
No account needed to view the listing at http://www.searchsummerlinrealestate.com/4987783_0-91-HAWK-RIDGE-DR-Las-Vegas-NV-89135-MLS-1074501-RES_Detail.aspx