News

Objective news from the poker world.

FTP Agreed to Exclusive Negotiations

July 10, 2011 - 7:43 PM EDT
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FTP Agreed to Exclusive Negotiations

Full Tilt Poker has entered into an exclusive bargaining agreement with a prospective European investor. The agreement, reached on June 30th, requires Full Tilt to stop negotiations with other prospective investors for at least three weeks while the primary suitor conducts due diligence investigations and negotiates with the poker site's executives. Due diligence presumably poses a significant hurdle in this case because Full Tilt is an opaque entity with a complex corporate structure, an indicted executive, a civil complaint against it from the United States Department of Justice's, and public troubles with regulators in Alderney, France, and the Kahnawake Mohawk Territory. Subject: Poker has confirmed from numerous sources that the US DOJ, the Alderney Gambling Control Commission, and the French regulatory authority ARJEL are all actively communicating with both Full Tilt and the...

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UMW/QT Plan to Repay

July 5, 2011 - 12:32 AM EDT
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UMW/QT Plan to Repay

Some tensions surrounding the May 23rd indictments may begin to ease as the UseMyWallet implementation QuickTender.com is back online and claims to be ready to process payments for previously inaccessible player funds. According to an e-mail that QuickTender sent to customers on June 23rd, users who want to access their funds have from July 1st to August 15th to send their banking details to the e-wallet via...

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FTP’s French License Suspended

July 4, 2011 - 4:32 PM EDT
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FTP’s French License Suspended

The French regulator Autorité de Régulation des Jeux En Ligne has suspended Full Tilt Poker's French license today. ARJEL held a meeting earlier today to discuss the French-facing poker site FullTiltPoker.fr, which has been down since last Wednesday when the Alderney Gambling Control Commission suspended Full Tilt's licenses. About an hour ago, the French regulator released a statement announcing that Full Tilt's French license is now suspended as well. ...

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AGCC in Talks with FTP

July 4, 2011 - 6:07 AM EDT
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AGCC in Talks with FTP

The Alderney Gambling Control Commission has released a new statement concerning Full Tilt Poker, stating that it is in talks "with its licensees trading as Full Tilt Poker and a third party concerning the prospective refinancing of Full Tilt Poker." The statement provides little detail. It describes the negotiations as "at an early stage," but does not provide a timeline. Though it mentions a third party, it does not even say explicitly that this third party...

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Ivey Lawsuit Dismissed

July 1, 2011 - 6:33 PM EDT
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Ivey Lawsuit Dismissed

Ivey v. Tiltware was dismissed on Thursday, June 30 2011. Online records Subject: Poker acquired from the Clark County Courthouse website indicate the case was voluntarily dismissed without prejudice by the plaintiff. Ivey, a member of Team Full Tilt who owns a piece of the poker site, filed the lawsuit against Tiltware, one of the many companies behind the Full Tilt brand, on June 1st. ...

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FTP Sold to European Investors?

June 30, 2011 - 10:10 PM EDT
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FTP Sold to European Investors?

Updated 7/1/2011, 3:40 PM EDT. An article written by the Los Angeles Times is quoting lawyers from Full Tilt Poker, saying that European investors have agreed to take over a majority share in the troubled poker site. The article mentions that the investors would invest enough money in FTP to pay back players, thereby acquiring a majority stake: Attorneys associated with Full Tilt said the company signed an agreement Thursday with a group of investors who would put...

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KGC Statement about FTP

June 30, 2011 - 5:46 PM EDT
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Kahnawake Gaming Commission

Subject: Poker has obtained a statement from the Kahnawake Gaming Commission about Full Tilt Poker:

Yesterday morning Full Tilt Poker had its licenses suspended by the Alderney Gaming Control Commission, and its site has been down since. We reported later in the day that FTP was considering using a permit from the KGC to continue operations. We had received conflicting reports about whether FTP already had such a permit or whether they were in the...

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Full Tilt Looks to the KGC

June 29, 2011 - 8:34 PM EDT
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Full Tilt Looks to the KGC

Full Tilt Poker is considering reopening its operations with a permit from the Kahnawake Gaming Commission. Earlier today, the Alderney Gambling Control Commission suspended Full Tilt Poker's licenses. Afterwards, players were unable to connect to the poker site using the client software, and Full Tilt's website reported that its...

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AGCC Suspends FTP Licenses

June 29, 2011 - 10:03 AM EDT
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AGCC Suspends FTP Licenses

The Alderney Gaming Control Commission, which supplies FTP's licenses to offer poker games, has announced the suspension of Full Tilt Poker's licenses. 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...

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Jack Binion Considers Investing in FTP

June 26, 2011 - 11:02 PM EDT
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Jack Binion Considers Investing in FTP

Subject: Poker has heard from numerous sources that Jack Binion is in advanced talks with Full Tilt Poker about potentially investing in the poker site. Full Tilt has failed to repay US players since some of its executives and payment processors were indicted on April 15th. After Black Friday, many have speculated that Full Tilt simply did not have the money to repay US players. The site has confirmed in public statements that it is...

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