There has been a lot of speculation surrounding the current financial status of Full Tilt Poker. Many people think that the once gargantuan poker site is now bankrupt. However, Full Tilt poker has just recently released a statement assuring its users that it has not gone bankrupt. The company also offered up an apology for the slowness by which they are handling the issue.
A Bad Situation
Things have been getting pretty annoying for the US players over at Full Tilt just recently. It all began, of course, with the Black Friday incident. Unable to play, users could only hope that they could at least get hold of their money without much trouble. But it seemed like this would not be the case either because the US government also seized the bank accounts of the sites that they accused. But then a silver lining came in the form of the US DOJ making deals with the poker sites. Two weeks later, PokerStars had managed to hand out their player refunds seemingly without difficulty. However, Full Tilt was not quite so adept at handling the crisis as PokerStars was; and now, more than a month after the deal was made, it seems like Full Tilt refunds are still nowhere in sight. The DOJ has already unfrozen one of the poker site’s bank accounts, leaving it with around $30 million to pay its US customers with, but Full Tilt said that players still have to wait a while before they’re going to begin paying.
Apologies, apologies, and more apologies
Before Full Tilt was giving out the same generic message that they’re experiencing several “hurdles” to facilitating the payments. However, because the rumors were getting so strong and could no longer be ignored, they released a new statement as an apology. Here were the words exactly:
“We acknowledge that our lack of communication reflects poorly on us, and rightfully so. We have been too optimistic in estimating how long it would take to sort through the issues we have faced since Black Friday. And as frustrating as the delays have been for us, we recognize that it cannot compare to the frustration you have been feeling.”
The apology, of course, did not satisfy anybody, and in fact some of them even angrier. What was important, however, was that they denounced all the rumors about the site being bankrupt. The statement issued by the Full Tilt’s representative clarified that the site’s world-wide business is still very much healthy and that it’s currently trying to ‘raise capital’ for facilitating the refunds.
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