Full Tilt Poker Set for New Management

According to a lawyer from Ifrah Law LLC, the law firm representing Full Tilt Poker, any takeover would also mean a complete managerial overhaul. Find out more here.

Ray Bitar won't be reprising his role as  CEO, according to Jeff Ifrah

The lawyer told E-Gaming Review that a takeover may require a change in management, which would see much maligned Full Tilt Poker CEO Ray Bitar struck off along with many of his workers.

With the September 15 hearing with the Alderney Gambling Control Commission (AGCC) looming, discussions between Full Tilt Poker and unknown, potential investors are ongoing.

According to attorney Jeff Ifrah, the original investor who came forward following the turmoil of Black Friday is still the closest to securing a deal. He is the only person to have entered into talks with the USA's Department of Justice (DOJ).

Casino mogul Jack Binion is just one of many people linked with a potential investment.

Ifrah went to state "I’m not directly involved in any of those discussions but I assume if everything goes to plan then the announcement will bring not just a new owner and new investor but also an entirely new management team, and I assume that will all be well-coordinated and closely coordinated with the regulators".

He also stressed the need to re-imburse players, "I assume there’s going to be a transition period [after any investment] and we hope that it’s not going to take that long to turn the lights back on and begin facilitating player withdrawals and obviously continue playing".

Ifrah Law LLC represents eight Team Full Tilt members, with only John Juanda under different legal representation. Of all the Full Tilt Poker founding fathers, it is believed that it was Chris Ferguson that first approached Ray Bitar back in 2004.

All eyes will now be on Full Tilt Poker's September 15 date with the AGCC, when details of an investment could also be announced.