FTP Issues Statement Re: GBT/DOJ Agreement

November 17, 2011 - 7:57 PM EDT

Full Tilt gave Subject: Poker the following statement earlier today:

Full Tilt Poker is pleased that the terms of the agreement between Groupe Bernard Tapie (GBT) and the Department of Justice have been finalized, and that the agreement provides forGBT to repay or make whole players outside of the United States and provides a mechanism for U.S. players to get repaid.Since Black Friday, repaying customers has been FTP’s number one priority.

Ray Bitar, co-Founder and CEO of Full Tilt Poker stated: “I am extremely pleased with the efforts of the Department of Justice, and the Groupe Bernard Tapie corporation, and appreciate their continued dedication in working towards a mutually beneficial agreement that will facilitate repayment of the players .”

Now that the agreement with DOJ has been reached, GBT and Full Tilt Poker will now turn to memorializing the final terms of their agreement, to bring this matter to a complete resolution as soon as possible.

Full Tilt Poker would like to thank all its customers for their continued patience since Black Friday and during this negotiation process.

See today’s other article for more information.

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5 Responses to FTP Issues Statement Re: GBT/DOJ Agreement

  1. Matt Waldron
    November 18, 2011 at 10:37 AM EDT

    Congratz FTPers – the US government will now consider your full bankroll payback ‘gambling profit’ …have fun explaining that in April.

    Also, don’t get too excited, the DOJ hasn’t fully recovered US funds and has not established a mechanism for grievances to be filed for repayment.

    At least it is something but…

  2. Chappie
    November 21, 2011 at 11:13 AM EDT

    What does “Full Tilt Poker will now turn to *memorializing* the final terms of their agreement” mean?

    • Noah Stephens-Davidowitz
      November 21, 2011 at 2:21 PM EDT

      “Memorializing the deal” means putting everything in writing and signing it. The press release is referring to the work that still needs to be done to ensure that the DOJ takes temporary control over FTP’s assets.

  3. AbdulMalik Shakir
    November 21, 2011 at 8:00 PM EDT

    This reads like good news who thought they would never see their money again. I have three questions:

    1. Who has the record of how much is owed to each player?
    2. Has the amount owed to players been validated?
    3. Are there sufficient funds available to pay the full amount owed to players?


  4. mlb
    December 15, 2011 at 6:39 AM EDT

    abandon hope ye sinners!
    you will have a higher probability of getting gifts from santa claus than full tilt. unless you can get the prinipals to surrender their spoils, and good luck with that. your olny likely reward may be to see some prison time for these gentlemen.

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