Full Tilt Sale Might Be Sealed Next Week

Poker Rooms | estimated reading time
2011. July 08. |
According to recent information, the European investors who are planning to buy into Full Tilt Poker are almost ready to sign the deal, which could be "on the table by the end of next week."
Full Tilt Poker

Jeff Ifrah
, attorney for Full Tilt Poker reported that the deal is soon to be signed between Full Tilt Poker and the European investors, as early as next weekend. According to sources close to Full Tilt, the site will commence the refund of the more than $150 million debt they owe to U.S. players. This means, they can get their license back soon.

"My hope is as the company formalises 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."
- claimed Ifrah. He added:

"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".

Ifrah also stated that, even though he cannot name the investor group, they do not come from the gambling industry, and they are certainly not one of the competitors; this is their first investment in the egaming sector.

It was rumored that Ray Bitar was voted down for the CEO of Full Tilt Poker, and now somebody else leads the company. These rumors, however are simply not true, according to Ifrah. This news actually "really ruined his day yesterday".

Full Tilt Poker is in continued discussions with the AGCC (Alderney Gambling Control Commission) about their license, but "although the island’s director of ecommerce development has dismissed reports that the operator’s licence - suspended pending a hearing later this month - could be restored as soon as tomorrow" - according to Egrmagazine.com.


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