AGCC Suspends FTP Licenses

June 29, 2011 - 10:03 AM EDT
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The Alderney Gaming Control Commission, which supplies FTP’s licenses to offer poker games, has announced the suspension of Full Tilt Poker’s licenses.1 This means that FTP can no longer legally offer poker games through their Alderney licenses, nor can they process any deposits or withdrawals.

In a press release, the AGCC issues a Hearing Notice and a Suspension Notice to Full Tilt Poker. The hearing about the matters contained in the Hearing Notice will take place on July 26th in London. The Suspension Notice means that FTP must cease to:

  • Register new customers.
  • Accept deposits from existing customers.
  • Allow existing customers to withdraw funds that are held in their accounts.
  • Permit customers to participate in any form of poker game play or gambling transaction.

In a statement this morning, the AGCC said:

“The decision to suspend these licenses follows a special investigation prompted by the indictments unsealed by US Attorney General’s Office in the Southern District of New York on 15th April 2011, during which grounds were found to indicate that these licensees and their business associates were operating contrary to Alderney legislation. The nature of the findings necessitated the taking of immediate action in the public interest.”

Right now, players are unable to connect to the Full Tilt Poker platform, and their website displays the following notice:

Subject: Poker is closely following today’s events, and we will update as we learn more.

Edited on 6/29/2011 10:45 AM EST: Changed hearing date from 16th to 26th.
Edited on 6/29/2011 2:31 PM EST: Changed the word “license” to “licenses” and added the related footnote.

Footnotes

  1. The Alderney Gaming Control Commission licensed four companies related to Full Tilt Poker: Vantage Ltd, Oxalic Ltd, Filco Ltd, and Orinic Ltd.

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5 Responses to AGCC Suspends FTP Licenses

  1. FedJustLost
    June 29, 2011 at 11:33 AM EDT

    doesnt it look like the AGCC wants to save its reputation cuz they might know more / expect ftp to bust and act now. shouldnt they have been the institution to observe and regulate ftp _beforehand_ to avoid something like what happened and they failed or is it more likely they have been deceived by ftp?

    what is the licence ‘worth’ actually? ftp is not allowed to offer its services from those island but y not move somewhere else?

  2. Fuck FTP
    June 29, 2011 at 3:37 PM EDT

    Wait, so the AGCC makes a ruling that stops players from getting their cash? WHATTHEFUCKISTHEMATTERWITHYOUPEOPLE?!?!

  3. Kevin
    June 29, 2011 at 5:06 PM EDT

    At least they went from “scheduled maintenance in progress” which was an outright lie, to “maintenance in progress”.

    I’m not quite sure if that is progress though :(

  4. Ryan Yum
    June 29, 2011 at 9:56 PM EDT

    “The Suspension Notice means that FTP must cease to:

    Register new customers.
    Accept deposits from existing customers.
    Allow existing customers to withdraw funds that are held in their accounts.
    Permit customers to participate in any form of poker game play or gambling transaction.”

    The way you worded this makes the third statement confusing and worrying. Does it mean FTP must cease to allow existing customers to withdraw funds that are held in their accounts, or just allow existing customers to withdraw funds that are held in their accounts?

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