6th July 2011 – Full Tilt Takeover Almost Completed

Full Tilt Takeover Almost Completed

A matter of a few days ago, Full Tilt Poker had its license suspended by the Alderney Gambling Control Commission.  The suspension was largely due to ongoing investigations in the United States following the events of Black Friday – April 15th.  The license suspension effectively shut the door on Full Tilt, which until that point had only ceased its U.S. operations.

By this time most sources were already explaining that a group of European investors were in talks with Full Tilt (and the parent company Pocket Kings Ltd) and the federal and financial authorities in the U.S. regarding a takeover of some description.  Details are still a little vague, especially as to the identities of the new owners, but it looks as if, for $150 million, they will acquire a controlling stake in the parent company with the funds then being set aside to refund all the players who are still awaiting repayment.

In another, though probably irrelevant twist, the French gaming regulator ARJEL then suspended Full Tilt’s license to operate in France, precisely because the website was no longer operational after Alderney regulators forced it to close.  The past three months have clearly been the worst in Full Tilt’s history – this is a company which once ran the second biggest online poker operation on the planet, with a cast of hundreds of poker pros.  Perhaps when the takeover is confirmed and the licenses reissued, Full Tilt can work its way back up the tree.

PPA Fully Behind Barton’s Bill

Recently we reported on Congreeman Joe Barton’s bill to push for online poker legalisation in the U.S.  The full title of the bill is the Internet Gambling Prohibition, Poker Consumer Protection, and Strengthening UIGEA Act of 2011.  The plan is to obtain a full hearing for the bill by the end of the summer and the Poker Players Alliance (PPA) are not surprisingly supporting the effort.

They are urging all members and poker players to get in touch with their various political representatives in whichever way they wish to keep the momentum for the bill going.  Supporters can leave messages on representatives Facebook pages, call their telephones to leave messages or simply write supportive letters.

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