Full Tilt Poker Pays Outstanding Licensing Fees to AGCC

Full Tilt Poker has decided to pay the $410,000 in outstanding licensing fees to the Alderney Gambling Control Commission (AGCC).

The most recent developments see Full Tilt Poker fork out £250,000 ($410,000) in outstanding licensing fees to the AGCC. Full Tilt lawyer Martin Heslop explained that the reason the site hadn't put up the money earlier was because it was unsure that the license still existed.

The AGCC had previously agreed to adjourn the case till September 15, giving the site a chance to secure an investment. European investors and casino mogul Jack Binion have previously been touted as potential candidates to bail out Full Tilt Poker.

The AGCC released a statement declaring: "The recent payment of overdue license fees by FTP is also in players' best interests since it allows commercial negotiations to take place that might result in a successful refinancing deal."

This development should come as good news, and a positive step towards the refinancing of players. Full Tilt Poker will now look to secure a substantial investment and might approach matters with the Department of Justice.

Just over a week ago, we reported on the AGCC's public hearing in London regarding the Full Tilt Poker license suspension, details of which you can find here.

A few days ago, it was discovered that the Kahnawake Gaming Commission had renewed Full Tilt Poker's secondary license for two more years, which suggested the site could potentially restart operations under Kahnawake regulations in the future.

There have been numerous twists and turns in the Full Tilt saga over the past few months. It was recently noted that esteemed pro Phil Ivey owed $6 million in funds to Full Tilt Poker after a series of transactions. Ivey had initially filed a lawsuit against Full Tilt, before withdrawing it.