Full Tilt players have been pretty worried during the past few months due to the problems the site has encountered after the Black Friday incident. But now it seems as if they have gotten something of a reprieve as the negotiations for its sale seems to be close to completion. They expect to have the deal sealed by July 22 of this year, too late for the WSOP, but a welcome development nonetheless.
Full Tilt’s Odyssey
Before the whole Black Friday incident struck, Full Tilt Poker had been one of the biggest poker sites in the Internet. In fact, it was second only to PokerStars and was considered to be better than the said site in certain aspects, such as software and the roster of poker pros. Also, Full tilt had been planning to launch the “Onyx Cup”, a series of huge live tournaments with unimaginably high buy-ins and an elitist player base. However, all that came crashing down when it got hit by a major lawsuit from the US Department of Justice. In fact, it went at an all time low just recently when its license got suspended by the Alderney Gambling Control Commission and subsequently by the ARJEL, the organization which regulates online gambling in France. The Full Tilt site has then been shut down and its players were rendered unable to play, deposit, or withdraw their funds. As such, the big wigs at Full Tilt Poker have decided to sell the site so that they may get funds for the payment of US players. It’s a good thing that some European investors have gotten interested at the site, or else US players – as well as those in other countries – can kiss their money goodbye.
July 22 – A Fateful Day
There’s one thing that Full Tilt wanted to clarify in regards to this whole deal: it’s not a competitor that’s going to gain control of the site. These European investors, who have remained unnamed as of yet, are said to be new to the whole business. This will be the group’s first foray into the online gambling business. Jeff Iffrah, FTP’s attorney, has revealed that the deal is likely to be sealed this July 22. Once done, the first order of business will be to pay the customers. There isn’t much known about the group for now, except that they’re from the financial sector. More details are likely to come to light as the days pass.
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