Full Tilt Poker Acquisition Progresses Slowly But Steadily

Poker Rooms | estimated reading time
2012. January 19.
According to unofficial sources, the acquisition of <em>Full Tilt Poker </em>goes as planned, even if the amount of paperwork slows things down.
As reported, Groupe Bernard Tapie, intending to buy Full Tilt Poker, reached an agreement with the United States Department of Justice in mid-November, so the last major obstacle in the way of acquiring the online poker room was removed. According to the deal, the FTP assets would be forfeited to the DoJ and they would consequently sell them to GBT for $80 million. The Department, then, would cover the room’s debts towards its US players, while the Groupe would pay the rest.

Full Tilt Poker - Groupe Bernard Tapie

Before the forfeiture could be initiated, however, FTP shareholders needed to agree to give up the assets. This took place a month later, taking another important step towards rehabilitating the room.

Although the community anticipated the process to speed up from this point on and the compensation of players to begin soon, no piece of news have surfaced since then regarding the progress of the acquisition. As a result, PokerKing.com contacted a person who takes part in the process to inquire about the current phase of the business.

Their unnamed source has reported that FTP, GBT and the DoJ are currently working on the further details of the acquisition and fix them in contracts with the help of lawyers. Even though red tape makes it hard to progress rapidly, everything is said to be going as planned and the conclusion of the deal is nearby.

Despite players with bankrolls frozen on FTP’s accounts becoming restless gradually, the current situation is much more comforting than it was a couple of months ago. Hopefully, no unpleasant surprises are left and it is now only a matter of time for the acquisition to be finished.

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