UK Plans to Change iGaming Regs

July 14, 2011 - 8:12 PM EDT
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UK Plans to Change iGaming Regs

The United Kingdom's Department for Culture, Media, and Sport today announced its intentions to dramatically reform British internet gambling regulations. The planned changes would require all sites that serve British customers to obtain a UK license. Currently, the United Kingdom does not require a license from online gambling operators provided that their equipment is not in the UK. However, in order to advertise to the British market, gambling sites must have a license from a country in the European Economic Area (for example, Malta) or from one of the "white-listed" countries: Alderney, Antigua and Barbuda, Gibraltar, the Isle of Man, and Tasmania....

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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...

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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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