Groupe Bernard Tapie and DoJ Reach Agreement on Details of FTP Forfeiture

According to Gaming Intelligence, Groupe Bernard Tapie and the United States Department of Justice reached a deal on the details of the forfeiture of the Full Tilt Poker assets, enabling GBT to purchase these directly from the Department for $80 million. Still, this is not yet the finale for the FTP in the process of getting the room restarted: GBT managing director Laurent Tapie said that a lot remains to be done, including finishing the negotiations with the Alderney Gambling Control Commission (AGCC) on re-licensing the room. Tapie originally expected the room to re-launch on 1st March, 2012 at the soonest.

The case of the forfeiture of FTP has been at issue since November, 2011. In December, shareholders of the company agreed to the action, so that the DoJ could sell the assets to the French for $80 million and compensate US players, while the Groupe would pay non-US clients. In addition, the DoJ would dismiss the civil complaints against FTP and its companies.