More Trouble For Full Tilt Poker As Deals Collapse
- by Matt Farrington
More trouble seems to be in store for Full Tilt Poker, whose public hearing takes place before the Alderney Gambling Gaming Commission on July 26th. The second largest online poker site was forced to cease operating after the AGGC withdrew its gaming licence in June 2011, effectively shutting Full Tilt Poker down.
Takeover Rumours Come To Nothing
Before this, Full Tilt Poker was closed down in America after it was accused of having between 35-50 different companies who were siphoning illegal profits from online poker into Full Tilt’s offshore accounts.
Since its closure, rumours and speculation have been growing about a possible purchase of Full Tilt by Harrah’s, who operate the World Series of Poker, or by a consortium of European executives. Either way, insiders are now saying both deals are off the table and any agreements have fallen through.
FTP Deep In Lawsuits
Anyone thinking of looking to buy Full Tilt Poker must be having second thoughts at the moment. Full Tilt is currently facing lawsuits amounting to over $1 billion. The United States Department of Justice itself has taken out a suit against the site for $1 billion, while former sponsored poker player stars are themselves suing Full Tilt for around $150 million.
Full Tilt Poker’s fate and future is to be decided in central London on the 26th of July at a public hearing. The Full Tilt scandal has rocked the online poker world but the fallout will seemingly benefit others.
Poker players who are residing in legal jurisdictions will probably turn to the safe and popular poker sites who for years have been operating legally and who have a track record of proven transparency and honesty.