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Poker News | World Poker News

Gaming News: Is The Full Tilt Sale a Done Deal?

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Full Tilt Poker has been constantly in the news since Black Friday. The buzz lately has been the ongoing outrage of former Full Tilt players who believe their money has been stolen – and they want it back.

The news that Full Tilt Poker has or is being sold to an unspecified ‘group of European investors’ has given a little hope to thousands of players who not just want, but need their money returned. Now it is being reported by EGaming Review that the deal may be done as early as this week. If true, the sale supposedly includes a plan to repay American players and hopefully put a halt to any current and pending class-action lawsuits against Full Tilt.

One of Full Tilt Poker's attorneys, Jeff Ifrah, gave a statement to eGaming Review saying, “My hope is as the company formalizes a deal with the European investors the terms include paying back the players, and we’d like to think this will help take care of the class action suit and any copycat suits on the table....Part of the deal with [the investors] will hopefully be a settlement of the DoJ case - [they have] met with Alderney and France already and will be meeting with the DoJ.”

Shooting down the rumor that another online poker room was behind the purchase, the attorney said, “They are not one of our competitors and to my knowledge it’s their first step into the egaming sector.” When the question came up as to whether the CEO of Full Tilt Poker, Ray Bitar, had been ousted, the attorney denied the rumor, saying, “We can completely deny the reports that Ray Bitar is no longer CEO. In fact that [rumour] really ruined his day yesterday. It doesn’t help anyone for sites to be reporting news that’s not true.”

Last month Full Tilt Poker lost their operator’s license pending a hearing to take place later this month. It has been reported that Full Tilt has been in discussions with the Alderney Gambling Control Commission to have their license reinstated. Rumors were rampant that Full Tilt may get their license back as soon as last weekend, however the island’s director of ecommerce development debunked the report as just another rumor. Apparently he was right - the weekend is gone with no word that Full Tilt was successful in reclaiming their operator’s license.

All those players who are owed money may find out if Full Tilt will be folding or raising from the ashes later this month. The public hearing set by the Alderney authorities in south London may determine just who is holding all the cards; the US Department of Justice, Full Tilt or the potential new owners.

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