26 Sep 11
Exclusive: Full Tilt Investors Nearing Deal
Full Tilt Poker attorney Jeff Ifrah has informed PokerStrategy.com that the investors interested in purchasing the company are taking the steps necessary for completing a deal. Amongst other things, they have been in talks with the AGCC to try and prevent the revocation of Full Tilt's operating license.
Over the last several days it has been revealed that a French investment group is interested in purchasing Full Tilt Poker. If a purchase is finalized, it will provide the company with the refinancing it needs to stay alive and pay back their customers.
Jeff Ifrah, a Full Tilt lawyer, was in France this week to participate in the negotiations. He believes that the investors are serious but have one major reservation:
"The investors are totally committed to doing this- we've met with them and seen the funds. Their primary concern right now is the AGCC's decision on Full Tilt's license. The investor's position is that if Alderney revokes the license, they won't go through with the deal because it makes things too difficult."
In order to address concerns about the AGCC and potential issues with the United States Department of Justice, the investors are actively attempting to reach agreements with each entity. Ifrah told us that the investors are currently in Alderney to meet with the AGCC:
"They called and volunteered to discuss their commitment directly with the commissioners. Without hesitation, they are prepared to review the terms of their offer. Additionally, they've hired a prominent and respected lawyer in the gaming industry and are setting up a meeting with the DOJ to try and work out the issues Full Tilt has in the U.S."
The current talks will likely be the determining factor in whether or not Full Tilt as a company has a future. Each entity involved has an interest in finalizing a deal, so hopefully one can be reached before it is too late.
As always, PokerStrategy.com will keep you informed of any new developments related to Full Tilt as we receive them.
Recent Full Tilt Poker Stories
• Full Tilt Receives Letter of Intent (23 Sep 11)
• Full Tilt Hits Back, Gus Hansen Breaks Silence, Greg Raymer on CNN (22 Sep 11)
• Subject: Poker Reports French Investors Considering Purchase of Full Tilt (21 Sep 11)
• Jeff Ifrah on the 'Ponzi Scheme' + FTP License Revoked? + EPL Suspensions (21 Sep 11)
• How The Media Have Reacted to the Full Tilt Poker Story (21 Sep 11)
• The United States DOJ's Civil Complaint vs. Full Tilt Poker Amended [Updated] (20 Sep 11)
by Matt Kaufman
#1
Cpwpoker, 26 Sep 11 17:05
wowGo go frenchiessss ~
#2
Roxalon, 26 Sep 11 17:06
go go go!#3
JohnyPoker, 26 Sep 11 17:07
one time#4
aaaRt, 26 Sep 11 17:10
pls AGCC don't mess this up!#5
TiciBoy, 26 Sep 11 17:14
I think I'll use my ONE TIME here!#6
Krishjanis, 26 Sep 11 17:16
#5 Using mine too!#7
salflip, 26 Sep 11 17:16
what a rollercoaster ride#8
musashi87, 26 Sep 11 17:17
@4 honestly...FTP messed things up AGCC is just doing it's work.
#9
ktec, 26 Sep 11 17:17
tldr#10
Tim64, 26 Sep 11 17:26
crossing all fingers and toes and, for that matter, nostril hairs.#11
noisecore, 26 Sep 11 17:26
SHIP IT#12
boboistina, 26 Sep 11 17:27
gogo frenchies seal the deal, AGCC and DOJ please dont ask for too much!!@9 If AGCC did their work this wouldnt have happened at all, they should have forced them to keep players and company's funds separate or atleast check if enough funds are on company account to cover players bankrolls at random times and very often, so FTP scum knew if they steal even 1$ they would be closed immediately, not letting them rip us off for years.
#13
Avatars91, 26 Sep 11 17:28
Excited!!!#14
Jackalof, 26 Sep 11 17:32
go go want my nickels and dimes back. nvm they dont have casino :(#15
pavaka, 26 Sep 11 17:32
This is my HOPE#16
BOBOsvk, 26 Sep 11 17:33
gogogogo#17
blackaces82, 26 Sep 11 17:36
omfg, let it happen!#18
drbloody, 26 Sep 11 17:38
...I just don't get it, who would want to return to play at FTP after what happened :??#19
eteris, 26 Sep 11 17:38
@8 yes FTP messed up, but AGCC should have prevented that... and they didn't#20
Heffron89, 26 Sep 11 17:40
#12 you have no clue what a regulator body is lol...#21
Heffron89, 26 Sep 11 17:40
#19 THEY ARE POST ACTION NOT PRO.#22
achschelo, 26 Sep 11 17:42
ONE TIME!!!#23
B0YNAMEDSUE, 26 Sep 11 17:42
If the AGCC revokes Full Tilt's license, and the French Investors walk, players should boycott all sites licensed by the AGCC. The AGCC is partly to blame for this whole mess.That said, I don't think they will revoke Full Tilt's license. Doesn't make sense.
#24
boboistina, 26 Sep 11 17:42
@20 so why dont you enlighten me the please, i dont know, and you apparently do, explain it please so i know too.#25
Rauno9, 26 Sep 11 17:44
AGCC's main concern supposedly is regular players. We'll see.#26
B0YNAMEDSUE, 26 Sep 11 17:51
Btw, to anyone thinking, "Why would anyone play at Full Tilt Poker after this whole ordeal?"It isn't right to punish new owners for the sins of the previous owners, especially when the new owners are the ones responsible for everyone getting paid back.
I, for one, will have no problem playing there. You can bet they'll have player funds segregated. This whole situation has been embarrassing for Full Tilt, and the AGCC. I doubt the new Full Tilt owners (one time!) or the GACC want anything like this to happen again?
#27
nathanrenard, 26 Sep 11 17:53
OH YES PLEAAAAAAAAAAAAAASE!#28
w4terman, 26 Sep 11 17:53
omg! weeeeeeeeeee#29
AaronLambert, 26 Sep 11 17:54
Good point 26#30
Cpwpoker, 26 Sep 11 17:57
Don't blame the children for the parent crime !!!Just put an internal agcc audit in the business if they got the license back.
1st they will get audit fees from FTP
2nd Player will feel more safe
3rd Will clean a bit both ftp and agcc name
#31
pavaka, 26 Sep 11 17:59
After all this things i think that AGCC will get serious and watch the poker rooms so we stay portctedFTP will become with new owners and new manegers and etc so it will be like a hole new company but with the same software and rush which everybody liked
#32
boboistina, 26 Sep 11 18:02
any other rooms licensed by AGCC and which?#33
lolailo87, 26 Sep 11 18:02
ONE TIME BABY!!!#34
conall88, 26 Sep 11 18:03
"I told ya so Heffron"#35
HollyMichelle, 26 Sep 11 18:05
#26 Excellent point imo.If it re-opens then it is an individual choice to play there. If you don't want to, you don't have to.
#36
boboistina, 26 Sep 11 18:08
so heffron, you dont wanna explain, or maybe you dont know? cuase i have seen you post the same things on 3 different FTP news and when asked to elaboate you simply vanish never to be heard from again.oh and i forgot, ONE TIME!!!
#37
bolachasp, 26 Sep 11 18:13
pls AGCC we players need your help here, give them some more time this last time. PLEASEEEE#38
jozata, 26 Sep 11 18:17
One time!!!I am sure that if FTP reopen they ll offer good bonuses to keep their players,so I ll at least clear those before I grab my money and take off for good :)#39
eteris, 26 Sep 11 18:37
@32 all licenses by alderny http://www.gamblingcontrol.org/licensees2.php#40
nuteLka, 26 Sep 11 18:50
39 Pokerbiker.c ? :D#41
boboistina, 26 Sep 11 18:50
@39 thanks!#42
darrenrudolph, 26 Sep 11 19:07
One time!#43
taavi1337, 26 Sep 11 19:20
Would be sick if they manage to get this started again. Good luck!#44
SilverSag, 26 Sep 11 19:32
Well to put it simply - FTP did have 2nd best (if not No.) software out there. That alone is worth quite a lot. Also, most of the players have already said goodbye to their bankrolls, so they will not have a big problem staying there if there is an incentive (and there will be plenty for those who will stay for sure). Another thing - what competition is out there? Party? 888? So it's not a bad deal from investors point of view. Ofc all the old board will have to go for any credibility.#45
BOBOsvk, 26 Sep 11 19:49
invest 350M, make 30M in profitz/yeari heard they were making 100m before in profitz
good ROI imo
#46
fishlock, 26 Sep 11 19:58
Good news. wonder when we'll know one way or the other#47
gadget51, 26 Sep 11 20:28
@45 ye but what's that in bb/100? lol#48
NatRPheM, 26 Sep 11 20:37
I don`t dear to get excited yet, it will only set myself up for a big downer if nothing happens.#49
weedo25, 26 Sep 11 20:47
one time!#50
abc7777, 26 Sep 11 20:47
I'm wondering if there is fuller tilt than full tilt poker.......#51
pepsico, 26 Sep 11 20:52
One time, baby *rollz da dice*!!!#52
mikrobz, 26 Sep 11 21:34
give ftp back,best soft for sure..all those sites now operating = total crap compared to what ftp was even stars soft not so good..fast,but that's it..and new investors = new ppl at the wheel so nothing to worry about that same mistakes will happen#53
w34z3l, 26 Sep 11 22:11
ONE TIME!#54
Melissaash, 26 Sep 11 23:04
i would only play there again if my rakeback continued#55
nativehero2007, 26 Sep 11 23:18
ill play there when lederer and jesus go to the clink#56
LimburgCwboy, 27 Sep 11 00:29
I hope AGCC is wise enough to see the difference between the company and software (FTP) and the the former owners abusing it.If so, they should not make any problem for new owners.
Of course they should keep a very close eye on FTP, which they should have done before all this sh1t also.
I will be playing there again if they re-open.
#57
FruitNinja, 27 Sep 11 02:37
This is some welcome news. I hope it comes to fruition! It would be nice to be able to play there again if it comes back. Looking forward to big bonuses for those who will stick around with the New FTP. Good luck all!#58
pops87pl, 27 Sep 11 03:09
I never get there when I sue my ONE TIME so I wont. Right now I'll just forget about the cash and if it will come back... nice.#59
Fubu27, 27 Sep 11 05:43
Oh man this kind of feels like the week before Christmas.#60
Hagbard00, 27 Sep 11 06:02
one time!!1#61
Tudazul, 27 Sep 11 07:41
Let´s see the river.#62
apd1020, 27 Sep 11 09:05
This is such a sick roller coaster ride. One minute good news, next minute bad. It's. just. not. fair.#63
autheking, 27 Sep 11 10:18
go go go!#64
InsideMan2, 27 Sep 11 11:58
@61 Best comment ITT.#65
pavaka, 27 Sep 11 12:41
All these years I was wondering how these stupid players(Laderer & Furgoson) had money to play in high stakes games
for me they are looosers
BIG LOOSERS
#66
illium, 27 Sep 11 19:35
All we need now is a statement from the AGCC detailing the steps required for the license to be restored. I'm sure paying the license a year in advance would help too.#67
tammyccc, 28 Sep 11 10:16
anybody who goes back 2 full tilt arent rite in the head.#68
tammyccc, 28 Sep 11 10:17
a week time it,ll b the the same sad story.