Potential Full Tilt Poker Investors Only Eyeing Up UK and Irish Assets
Full Tilt Poker’s American customers have been left in the dark over the proposed purchase of the beleaguered poker website as it appears the unnamed European investors interested in the company are only concerned with purchasing the poker site’s UK and Irish assets, and possibly some of the firm’s other European licences.
Of course, Full Tilt was shut down – along with PokerStars and Absolute Poker – on ‘Black Friday’ by the US Department of Justice (DoJ) in relation to alleged violations of gambling laws when processing money transfers.
Now, however, it has emerged that the ongoing negotiations between the European investors and Full Tilt – which saw their licences suspended by the Alderney Gambling Control Commission (AGCC) last month – do not include any mention of the US-based arm of the struggling website.
Online magazine eGaming Review reports that an unnamed source suggested that “the purchase includes the family of companies in the UK and Ireland [including marketing and technology company Pocket Kings in Dublin], as well as the Alderney licences”.
That must be of great concern to Full Tilt’s American customers – particularly after former Full Tilt Pro Phil Ivey supposedly brought the principal players together – as they are still owed well over $100 million following the suspension of their accounts with the poker room.
Additionally, with the exclusive bargaining rights for investing in Full Tilt coming to a close on Thursday with no mention of a completed deal, this can only add to the concerns of American customers.
It will be interesting to see what happens when London-based solicitors Jeffrey Green Russell represent Full Tilt at Tuesday morning’s AGCC public hearing into the suspension of their licences and potential sale at London’s Park Plaza Victoria Hotel.
However, Rich Muny – the Poker Players Alliance vice-president of player relations – is still convinced that AGCC’s actions could result in American players receiving refunds.
Muny believes “it’s great news for American players because this is the type of action that will cause Full Tilt to take the steps it needs to in order to repay American players”.
That might seem like a hollow promise, but Muny reckons “the more pressure on Full Tilt, the better” and believes the hearing should hopefully produce measures that will allow Full Tilt to “repay US players”.
But it’s not just US-based players that will be concerned by recent developments as Canadian customers could well be brought into this mess as Full Tilt possesses a Secondary Client Provider Authorisation with the Kahnawake Gaming Commission (KGC).
Late last month, the KGC announced they were also “reviewing all available information” related to Full Tilt Poker in an attempt “to determine whether the Secondary CPA presently held by [the site] will be continued”.
Meanwhile, it has emerged that Full Tilt Pro Phil Gordon – who is also an author and poker commentator – has been “voluntarily dismissed” from a class-action lawsuit filed by Robin Hougdahl, Nick Hammer, Steve Segal and Todd Terry.
Lawyers were quoted as stating that that the 41-year-old American pro “never participated in any management decisions or operational roles at Full Tilt”.
Gordon, who finished fourth in the 2001 World Series of Poker (WSOP) main event, spoke to eGaming Review about the situation, stating that he has always held himself “to the highest standards of conduct (and) repeatedly emphasised that Full Tilt should repay the US players as quickly as possible”.
However, many other big-name pros are still mentioned in the lawsuit, including the likes of Ivey, Patrik ‘PA’ Antonius, Allen ‘Clever Piggy’ Cunningham, Gus ‘The Great Dane’ Hansen, Mike ‘The Mouth’ Matusow, Andy Bloch, Erik ‘Sly’ Seidel, Erick ‘E-Dog’ Lindgren, Jennifer Harman, John ‘JJ’ Juanda, Chris ‘Jesus’ Ferguson and Nelson Burtnick, as well as Howard ‘The Professor’ Lederer and Ray Bitar – who are founders, co-owners and chief executive officers with Pocket Kings, the creators of Full Tilt Poker.